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The Politicization of Social Responsibility

Gormley, Todd A.; Jha, Manish; Wang, Meng - National Bureau of Economic Research - 2024

Institutional investors are less likely to support shareholder proposals involving environmental and social issues for firms headquartered in Republican-led states. The lower support concentrates in recent years, when politicians became more vocal about firms' social responsibility activities,...

Persistent link: https://www.econbiz.de/10015056196

The Geography of Financial Misconduct

Parsons, Christopher A. - 2014

misconduct correspond with local waves of non-financial corruption, such as political fraud …

Persistent link: https://www.econbiz.de/10012458320

Corporate Social Responsibility

Hong, Harrison G.; Shore, Edward P. - National Bureau of Economic Research - 2022

Is shareholder interest in corporate social responsibility driven by pecuniary motives (abnormal rates of return) or non-pecuniary ones (willingness to sacrifice returns to address various firm externalities)? To answer this question, we categorize the literature into seven tests: (1) costs of...

Persistent link: https://www.econbiz.de/10013477263

Who Blows the Whistle on Corporate Fraud?

Dyck, Alexander - 2007

What external control mechanisms are most effective in detecting corporate fraud? To address this question we study in … depth all reported cases of corporate fraud in companies with more than 750 million dollars in assets between 1996 and 2004 …. We find that fraud detection does not rely on one single mechanism, but on a wide range of, often improbable, actors …

Persistent link: https://www.econbiz.de/10012465774

Crime, Punishment and the Halo Effect of Corporate Social Responsibility

Hong, Harrison - 2015

Three reasons are often cited for the value of corporate social responsibility: product quality signalling, delegated giving, and the halo effect. Previous tests cannot separate these channels because they focus on consumers, who value all three. We focus on prosecutors, who are only susceptible...

Persistent link: https://www.econbiz.de/10012457452

Is Model Accuracy Enough? A Field Evaluation Of A Machine Learning Model To Catch Bogus Firms

Barwahwala, Taha; Mahajan, Aprajit; Mittal, Shekhar; … - National Bureau of Economic Research - 2024

We investigate the use of a machine learning (ML) algorithm to identify fraudulent non-existent firms. Using a rich dataset of tax returns over several years in an Indian state, we train an ML-based model to predict fraudulent firms. We then use the model predictions to carry out field...

Persistent link: https://www.econbiz.de/10014635668

Screen Now, Save Later? The Trade-Off between Administrative Ordeals and Fraud

Aman-Rana, Shan; Gingerich, Daniel W.; Sukhtankar, Sandip - National Bureau of Economic Research - 2023

Screening requirements are common features of fraud and corruption mitigation efforts around the world. Yet imposing … beneficiaries on one hand and lower fraud on the other. We examine these trade-offs in one of the largest economic relief programs … measures of loan irregularities that are indicative of fraud. Moreover, our analysis reveals that a subset of borrowers with a …

Persistent link: https://www.econbiz.de/10014322752

What Purpose Do Corporations Purport? Evidence from Letters to Shareholders

Rajan, Raghuram Govind; Ramella, Pietro; Zingales, Luigi - National Bureau of Economic Research - 2023

Using natural language processing, we identify corporate goals stated in the shareholder letters of the 150 largest companies in the United States from 1955 to 2020. Corporate goals have proliferated, from less than one on average in 1955 to more than 7 in 2020. While in 1955, profit...

Persistent link: https://www.econbiz.de/10014247976

Selfish Corporations

Colonnelli, Emanuele; Gormsen, Niels; McQuade, Timothy - National Bureau of Economic Research - 2022

Motivated by the public debate regarding corporate responsibility, we construct a memory-based model of decision-making to illustrate how corporate and political communication can impact policy preferences. We test the predictions of our model in a new large-scale survey of U.S. citizens on...

Persistent link: https://www.econbiz.de/10013435138

Is ESG a Sideshow? ESG Perceptions, Investment, and Firms' Financing Decisions

Kräussl, Roman; Rauh, Joshua; Stefanova, Denitsa - National Bureau of Economic Research - 2025

We study the effects of market ESG perceptions, as proxied by ESG ratings, on public firms' security issuance and asset accumulation decisions. Higher ESG scores are followed by capital structure adjustments, specifically increases in equity issuance and decreases in net debt issuance of similar...

Persistent link: https://www.econbiz.de/10015409801