We examine the value consequences of corporate social responsibility through the lens of institutional shareholders. We find a sharp asymmetry between corporate policies that mitigate the firm's exposure to environmental risk and those that enhance its perceived environmental friendliness...

Shareholder activism on sustainability issues has become increasingly prevalent over the years, with the number of proposals filed doubling from 1999 to 2013. We use recent innovations in accounting standard setting to classify 2,665 shareholder proposals that address environmental and social...

We examine the value consequences of corporate social responsibility through the lens of institutional shareholders. We find a sharp asymmetry between corporate policies that mitigate the firm's exposure to environmental risk and those that enhance its perceived environmental friendliness...

1. Introduction: ESG and Corporate Accountability -- 2. Emergence of ESG Principles -- 3. ESG-Related Theoretical Frameworks -- 4. Public Policies -- 5. Corporate Strategy -- 6. Strategy Selection -- 7. Strategy Implementation -- 8. Approach to ESG Policy -- 9. ESG Stakeholders -- 10. ESG in...