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An increasing number of investors want to invest their capital not only with profit but also responsibly, and they pay significant attention to the formula of socially responsible investing (SRI), which means that they consciously engage their funds in companies operating in accordance with CSR...
Persistent link: https://www.econbiz.de/10011960016
In this paper, we examine time and country specific institutional effects on CSR disclosures by big bank in fourteen Western European banks. For time effect, we compared banks' CSR disclosures in 2005, when societal expectation of banks' CSR disclosures was considered low, to their CSR...
Persistent link: https://www.econbiz.de/10013135444
The last two decades have shown us the growing importance of corporate, social and governance programs, as executives, investors and regulators have become increasingly aware of these programs' potential to mitigate corporate crises and build solid social reputation. Thus, mutual funds that...
Persistent link: https://www.econbiz.de/10013081084
This paper contributes to the existing literature about the effects of Corporate Social Responsibility (CSR) on market valuation. In particular, we investigate the impact of sustainability reporting under the global reporting initiative (GRI) on the firm value of non-financial EUROSTOXX 600...
Persistent link: https://www.econbiz.de/10013089534
This study examines whether product market competition affects corporate social responsibility (CSR). To obtain exogenous variation in product market competition, I exploit a quasi-natural experiment provided by large import tariff reductions that occurred between 1992 and 2005 in the U.S....
Persistent link: https://www.econbiz.de/10013065457
This paper empirically examines the effect of the inclusion in one of the most prominent sustainability stock indexes, namely the Dow Jones Sustainability World Index (DJSI World), on corporate financial performance. On the basis of panel data for European firms that were included in the Dow...
Persistent link: https://www.econbiz.de/10013070646
We analyze the influence of firm ownership structure on corporate social responsibility (CSR) as measured by the Dow Jones Sustainability STOXX Index and the Ethibel Excellence Index. Using data from 1,248 firms from five major European Union countries (United Kingdom, Germany, France, Italy,...
Persistent link: https://www.econbiz.de/10013071144
Theory offers differing perspectives and predictions about the impact of product market competition on corporate social responsibility (CSR). Using firm-level data on CSR from 2002 through 2015 and panel data on competition laws in 48 countries, we discover that (1) intensifying competition...
Persistent link: https://www.econbiz.de/10012833528
We quantify to what extent the quality of credit rating predictions improves through integrating measures of corporate social performance (CSP) in an established credit risk model. We provide comprehensive evidence of the comparative informational advantage of considering CSP in predicting...
Persistent link: https://www.econbiz.de/10012837925
In 2014, the European Union (EU) passed a corporate social responsibility (CSR) directive that mandates large listed firms to prepare non-financial reports beginning from fiscal year 2017 onward. We examine whether firms within the scope of the directive (hereafter, “treated firms”)...
Persistent link: https://www.econbiz.de/10012901107