When stakeholder protection is left to the voluntary initiative of managers, relations with social activists may become an effective entrenchment strategy for inefficient CEOs. We thus argue that managerial turnover and firm value are increased when explicit stakeholder protection is introduced...

In this paper, we investigate the relation between firm-level corporate governance and firm value based on a large and previously unused dataset from Governance Metrics International (GMI) comprising 6,663 firm-year observations from 22 developed countries over the period from 2003 to 2007....

In recent years, attention for corporate governance has not only increased but the notion has also broadened considerably, and started to cover some aspects traditionally seen as being part of corporate social responsibility (CSR). CSR, corporate governance and their interlink seem particularly...

This research article examines the relationship between women’s empowerment and corporate ESG disclosure variables by analyzing 10,121 publicly traded companies listed worldwide with historical ESG data available in Bloomberg from 2016 to 2020. The paper seeks to answer whether corporate...

As demands for environmental, social, and governance (ESG) data grow, mandatory ESG disclosure regulations are becoming more prevalent globally. However, corporate responses to these regulations remain unclear. Our ChatGPT-based analysis reveals a notable increase in ESG-related discussions...

Economic inequality is soaring and the consensus in some circles is that corporations' myopic focus on profits is largely to blame. At first glance a stakeholder approach would seem an appealing solution: surely if the purpose of corporations were not wealth maximization for shareholders but...

This paper proposes a Nash Bargaining model to show that there exits the inverted U-shaped relationship between state-owned enterprises (SOEs)' corporate social responsibility (CSR) performance and the level of executive compensation received by SOE managers. Based on annual data for...

Economic uncertainty disrupts firms' ability to create value. Most related literature examines how various organizational characteristics affect value under extreme conditions – the global financial crisis. However, recent work in quantifying economic uncertainty now makes it possible to take...

Institutional investors appear to have selective preferences regarding corporate social responsibility. They appear indifferent to the presence of positive environmental (E) and social (S) indicators, but underweight stocks with negative ES indicators. This asymmetric pattern is particularly...

The UK's recent vote for Brexit has sparked a fierce debate over the implications for the rights of EU citizens living in the UK and UK citizens living in the rest of the EU. So far, however, there has been relatively little discussion of the implications of Brexit for legal persons — that is,...