This paper models Corporate Social Responsibility (CSR) as one of the outputs that results from a firm's decisions regarding what and how to produce. The framework developed allows for studying technical efficiency and deriving a system of internal shadow prices to quantify the value of...

Over the past few years, there has been a significant increase in the number of initiatives seeking to mobilize investor voice towards positive social impact. In this paper, I provide a framework outlining the role of investors as stewards of the commons. While companies are increasingly...

An increasing number of companies, in order to improve their competitive stance on the market, decide to outsource some of their service functions to external subjects. Outsourcing of this type of activity is frequently regarded as a strategic decision. A properly conducted outsourcing project...

Environmental, social, and governance (ESG) disclosure has greatly influenced firms’ performance. Given the influence, one can ask whether firms deliberately use ESG disclosure as a tool to mitigate performance shortfalls. Performance shortfalls are situations in which the firm does not attain...

This short paper analyzes the opinion of the Delaware Court of Chancery in Selectica, Inc. v. Versata Enterprises, Inc., in which the court upheld under Unocal the use of a NOL poison pill, including the re-loading of a such pill after an acquirer triggered the pill and was diluted

This article analyzes the dissatisfaction of Brazilian consumers through complaints related to purchases made in physical and online stores between 2019 and 2022. The open database of consumer complaints on the Portal Consuidor.gov.br was utilized, along with descriptive statistics, to explore...

This paper explores the relationship between consumer behaviour, corporate social responsibility (CSR) and a set of socio-political and economic factors using a sample of nearly 90,000 stakeholders drawn from 30 countries over the period 2000-2003. We develop a set of hypotheses relating...

This study examines the relationship between corporate social performance and stock returns in the UK. Using a set of disaggregated social performance indicators for environment, employment and community activities, we are able to more closely evaluate the interactions between social and...

This study considers the stock performance of America's 100 Best Corporate Citizens following the annual survey by Business Ethics. We examine both possible short-term announcement effects around the time of the survey's publication, and whether longer-term returns are higher for firms that are...

This paper examines the relationship between a firm's reputation and the returns on its shares. We employ a unique dataset from the UK based on ten years of surveys conducted for Management Today, where company directors and analysts at leading investment firms are asked to rate each company in...