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Population, Productivity, and Sustainable Consumption
Pindyck, Robert S. - National Bureau of Economic Research - 2022
maximizes welfare. This raises a question: Given its cost, should sustainability be a social objective? …
Persistent link: https://www.econbiz.de/10013210047
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What Do Impact Investors Do Differently?
Cole, Shawn; Jeng, Leslie A.; Lerner, Joshua; Rigol, Natalia - National Bureau of Economic Research - 2023
In recent years, impact investors - private investors who seek to generate simultaneously financial and social returns - have attracted intense interest and controversy. We analyze a novel, comprehensive data set of impact and traditional investors to assess how the non-financial characteristics...
Persistent link: https://www.econbiz.de/10014437029
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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
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Corporate Social Responsibility Through an Economic Lens
Reinhardt, Forest L. - 2008
Business leaders, government officials, and academics are focusing considerable attention on the concept of "corporate social responsibility" (CSR), particularly in the realm of environmental protection. Beyond complete compliance with environmental regulations, do firms have additional moral or...
Persistent link: https://www.econbiz.de/10012464657
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The Impact of Corporate Sustainability on Organizational Processes and Performance
Eccles, Robert G. - 2012
We investigate the effect of corporate sustainability on organizational processes and performance. Using a matched … sample of 180 US companies, we find that corporations that voluntarily adopted sustainability policies by 1993 - termed as … High Sustainability companies - exhibit by 2009 distinct organizational processes compared to a matched sample of companies …
Persistent link: https://www.econbiz.de/10012460709
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ESG Confusion and Stock Returns : Tackling the Problem of Noise
Berg, Florian; Koelbel, Julian F.; Pavlova, Anna; … - National Bureau of Economic Research - 2022
How does ESG (environmental, social, and governance) performance affect stock returns? Answering this question is difficult because existing measures of ESG perfor- mance -- ESG ratings -- are noisy and, therefore, standard regression estimates suffer from attenuation bias. To address the bias,...
Persistent link: https://www.econbiz.de/10013435124
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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
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Corporate Social Responsibility and Voting over Public Goods
Samwick, Andrew; Wang, Sophie - National Bureau of Economic Research - 2023
This paper analyzes the impact of corporate social responsibility (CSR) on the total provision of public goods in a framework in which consumers who may make such voluntary contributions to public goods via CSR are also voters who decide on the level of taxes to finance publicly provided public...
Persistent link: https://www.econbiz.de/10014337865
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An Economic View of Corporate Social Impact
Allcott, Hunt; Montanari, Giovanni; Ozaltun, Bora; Tan, … - National Bureau of Economic Research - 2023
The growing discussions of impact investing and stakeholder capitalism have increased interest in measuring companies' social impact. We conceptualize corporate social impact as the welfare loss that would be caused by a firm's exit. To illustrate, we quantify the social impacts of 74 firms in...
Persistent link: https://www.econbiz.de/10014421228
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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