The bottom up pressure of «concerned» consumers and the rise of «socially responsible» products represents a new market mechanism to fight inequality and promote social inclusion. To analyse the new phenomenon of competition in corporate social responsibility (CSR) amid doubts on consumer...

The aim of this chapter is to examine whether corporate governance in Serbia is based on affirmation of responsible and ethical conduct. The concept of corporate governance refers to the system by which companies are managed and controlled in order to generate long term economic value for its...

Environmental issues provide a rich ground for identifying the existence and consequences of human limitations. In this paper, we present a growing literature lying at the interface between behavioral and environmental economics. This literature identifies alternative solutions to traditional...

Are private voluntary environmental actions by firms a sign of mismanagement, or a profitable “win-win” replacement for regulation? Empirical evidence is decidedly mixed. In this study, we use 19 years of monthly stock price returns, from 1991 to 2009, to examine the profitability of...

This study provides novel evidence of the impact of corporate social responsibility (CSR) on investment sensitivity to cash flows. We posit that CSR affects investment–cash flow sensitivity (ICFS) through information asymmetry and agency costs, commonly viewed as the two channels through which...