We examine how employee layoffs, an action that lowers a firm's social performance, affect stakeholders' wealth and contract terms. We find that although layoff-performance sensitivity is similar between firms with high and low corporate social responsibility (CSR) performance, high CSR firms'...

Global headwinds of change have created a volatile, uncertain, competitive and ambiguous (VUCA) environment, which has perplexed business organizations now a days.With the backdrop of twisters like Global economic recession, Euro zone turmoil, Chinese recession and Brexit problem, organizations...