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 tastes...

We analyze vertical product differentiation in a model where a good's quality is unobservable to buyers before purchase, a continuum of quality levels is technologically feasible, and minimum quality is supplied under competitive conditions. After purchase the true quality of the good is...

The paper inquires whether a public eco-label mitigatesadverse selection, where an ecologically superior (green) product variant is underprovided. A model, integrating entry into a perfectly competitive, vertically differentiated industry and rationally expected quality structure (REQS) under...

We analyze vertical product differentiation in a model where a good’s quality is unobservable to buyers before purchase, a continuum of quality levels is technologically feasible, and minimum quality is supplied under competitive conditions. After purchase the true quality of the good is...

Using a quasi-natural experiment that mandates a subset of listed firms to issue corporate social responsibility (CSR) reports, this paper examines the effect of mandatory CSR disclosure on market information asymmetry in China, where we estimate information asymmetry using high frequency trade...

Using Corporate Social Responsibility (CSR) performance scores from KLD STAT, we investigate whether CSR performance affects information asymmetry. We find that both positive and negative CSR performance reduce information asymmetry. Moreover, we find that the influence of negative CSR...

This study examines whether corporate social responsibility (CSR) reduces information asymmetry (IA). Using a firm-level CSR dataset of Australian publicly listed firms from 2004 to 2014, we estimate IA models using a fixed-effects panel estimator. We find that CSR performance is negatively...

Portfolio tilting deteriorates aggregate sustainable performance when investors use Environmental, Social, and Governance (ESG) ratings. Socially responsible investors shift their portfolios towards firms with high ESG ratings rather than sustainable firms because they experience difficulties...

The authors examine the effect of split environmental, social and governance (ESG) ratings on information asymmetry, corporate value and trading behavior. The authors test the risk-based hypothesis and the optimism-bias hypothesis on the relationship between diverging opinions and future stock...

We investigate the impact of media attention on a firm's CSR “strengths” and “weaknesses.” Drawing on social and organizational identity and stakeholder theory literatures, we develop and test two hypotheses concerning the influence that media attention has on these aspects of CSR. We...