We use synthetic control group methods to analyse the causal impact of CSR certification on the economic performance of a small set of Italian manufacturing firms that underwent SA8000 certification in 2009 or 2010. We find no evidence of a positive or negative impact of SA8000 certification on...

Nonprofits provide services for the common good and are having an increasing influence on the economy over time. There is consensus among prior studies in for-profit settings that social capital positively influences corporate financial performance. In contrast, this study analyzes the...

The purpose of the article is to investigate whether female presence in microfinance institutions' management team, i.e. board members, managers and loan officers, will improve their financial performance. We combine financial data on MFIs that is available from the MIX Market database with...

Among the 41 items from five corporate social responsibility dimensions: community, diversity, employee relations, environment, and human rights, we examine which corporate social deeds influence institutional investors' motivated equity ownership most in the U.S. We find that enforcing...

Using two national culture dimensions, we show a strong interaction effect between culture and firms' corporate social performance (CSP), which significantly influences firm performance. Specifically, firm performance is higher in those firms where CSR initiatives are congruent with the cultural...

We analyze how ownership concentration and type, and board independence are related to corporate social performance (CSP). Drawing from agency, team production and stakeholder perspectives, we argue that the distribution of costs and benefits to shareholders and other stakeholders is crucial to...

This paper explores an increasingly prevalent element of board-level commitment to sustainability. We propose a theoretical framework under which the existence and associated actions of board-level sustainability committees are motivated by shared value creation, where the interests of a diverse...

Sustainability in business and ESG (environmental, social, and governance) in finance has entered the mainstream and has generated thousands of research articles that analyze its correlation with financial performance. We surveyed 1,141 primary peer-reviewed papers and 27 meta-reviews (based on...

In the literature on corporate social responsibility (CSR) the origin of the equity is seen as one the drivers of CSR. There is evidence of multinational corporations stimulating diffusion of CSR practices in a few emerging economies. There are no similar studies focusing on the Polish economy....

This paper investigates the link between corporate social performance and cost of debt financing. The literature on the determinants of the cost of debt generally documents a negative association between measures of the risk of the firm and its cost of debt. The literature on Corporate Social...