Enforcement problems plague shareholder activism and investor protection in many parts of the world. The importance of solving this problem has led scholars to consider a range of partial alternatives to weak domestic corporate law enforcement regimes, ranging from writing "self enforcing"...

We document that corporate social responsibility (CSR) activities increase the cost of equity in East Asia. Further, the effect is driven by economies with weak investor protection. Our findings are robust to alternative variable measurements, accounting for endogeneity of CSR, and various...