Currently, there is much debate about the role that non-investor stakeholder interests play in the governance of public companies. Critics argue that greater attention should be paid to the interest of stakeholders and that by investing in initiatives and programs to promote their interests,...

Environmental, social, and governance (ESG) has become a major focal point for a broad array of stakeholders: investors, creditors, regulators, boards of directors, affected communities, customers, the general public, consultants, and academics. This article provides a history and current...

This paper develops a risk-management view of CSR by arguing that CSR provides insurance-like effects in adverse corporate events. Since passive investors have diversified away most idiosyncratic risks, we predict that they demand less CSR as a strategic approach to manage risks. Using the...

This study examines how corporate governance moderates the association between corporate social responsibility (CSR)/corporate social irresponsibility (CSI) and firm risk. In adopting this research design, our research simultaneously tests three prevailing theories, i.e., Corporate Social...

CEO activism — the practice of CEOs taking public positions on environmental, social, and political issues not directly related to their business — has become a hotly debated topic in corporate governance. To better understand the implications of CEO activism, we examine its prevalence, the...

This study is designed to provide empirical evidences on the conditional influence corporate social responsibility (CSR) on corporate accounting and market performance. This study considers risk management (RM) as a conditional or moderating variable. Accounting performance was proxied by return...

Does corporate compliance help to reduce firm risk? We explore this question by examining the reported compliance activities of 150 publicly listed German firms over the years 2014 to 2018. We build a summary score that accounts for 24 clearly identifiable compliance elements and find that...

Approaching the institutional environment through its regulative component, we distinguish between shareholder-oriented and stakeholder-oriented countries. Identifying first this classification with the distinction between common law versus civil law countries and using a large sample of 5,716...