Harjoto, Maretno Agus; Hoepner, Andreas G. F.; Nilsson, … - 2020 - This draft: July 23, 2020
Using Barney's (2018) stakeholder perspective of resource-based theory (SRBT), we arguethat bondholders represent the ultimate fixed claimants who value corporate socialresponsibility (CSR) in relation to the firms' risk. Bondholders' returns and the stakeholders'interests are aligned when firms...
