deviation reduces CSR investments by about 8.22%. Further analysis shows that managers raised CSR investments during the crisis …, consistent with the risk-mitigation view, where managers invest in CSR to reduce their risk exposure. However, managers appear to … of the CSR investments during the crisis is motivated by managers' own risk preference. Additional robustness checks …

directors’ risk aversion exacerbates managers’ risk aversion, resulting in a sub-optimal level of risk-taking. To offset this …

cultural attributes. Motivated by agency theory, we hypothesize that risk-averse managers favor cultural diversification, but …

The quiet life hypothesis argues that, when managers are insulated from the discipline of the takeover market, they … quiet life hypothesis, where managers adopt riskier CSR strategies and investments when they are more exposed to takeover …

Motivated by the on-going debate on the costs and benefits of CSR, we explore how talented managers view CSR … managers view CSR investments favorably. However, only those with especially strong talent are in favor of CSR investments. For … investments, suggesting that these strongly talented managers perceive CSR as enhancing firm performance. By contrast, for those …

insulate managers from the discipline of the takeover market. Entrenched managers are well-protected by the staggered board and …