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Institutional investors located in cities with social norms friendlier towards the environment (“green” cities) are sensitive to corporate environmental practices. Their portfolios are tilted away from stocks exhibiting negative environmental practices, particularly those headquartered in...
Persistent link: https://www.econbiz.de/10014359338
This paper delves into the primary association between corporate social responsibility (CSR) and hedging strategies. By employing textual analysis of 10-K filings to measure corporate hedging, we demonstrate that firms with higher levels of CSR are more inclined to engage in hedging practices...
Persistent link: https://www.econbiz.de/10014355754
This paper presents an industry equilibrium model where firms have a choice to engage in corporate social responsibility (CSR) activities. We model CSR as an investment to increase product differentiation that allows firms to benefit from higher profit margins. The model predicts that CSR...
Persistent link: https://www.econbiz.de/10012897379
This paper presents an industry equilibrium model where firms have a choice to engage in corporate social responsibility (CSR) activities. We model CSR as an investment to increase product differentiation that allows firms to benefit from higher profit margins. The model predicts that CSR...
Persistent link: https://www.econbiz.de/10012940360
We investigate the relationship between corporate social responsibility (CSR) and firm-level capital allocation efficiency. Using seminal investment-Q framework, we provide evidence that CSR distorts investment sensitivity to Q. We further determine that this effect of CSR is moderated by the...
Persistent link: https://www.econbiz.de/10012945531
Research on capital structure and product market interactions shows that high leverage is associated with substantial losses in market share due to unfavorable actions by customers and competitors. We examine whether corporate social responsibility (CSR) affects firms' interactions with...
Persistent link: https://www.econbiz.de/10012901975
We propose a theory of corporate social responsibility by linking it to the characteristics of a firm's product market. The firm's product features a network property in the sense that the value of the product to each consumer increases with the number of consumers. Moreover, with the technology...
Persistent link: https://www.econbiz.de/10013491592
For more than thirty years, scholars have investigated the connection between corporate sustainability and financial … that guidance from the Sustainability Accounting Standards Board (SASB) enabled the formation of scales of sustainability … between corporate sustainability and financial performance, as well as demonstrating the practicality of determining, in …
Persistent link: https://www.econbiz.de/10013226895
Passion - in the sense of fervent commitment to action - and compassion - understood as sensitive openness for social and ecological concerns - are not a sure formula for business success. Whether social or ecological entrepreneurs, who find themselves under pressure from market competition,...
Persistent link: https://www.econbiz.de/10011784179
The purpose of this article is to develop an ordonomic conceptualization of corporate citizenship and new governance that (a) provides a framework for positively explaining the political participation of companies in new governance processes and (b) does not weaken but instead strengthens the...
Persistent link: https://www.econbiz.de/10011786669