The coronavirus pandemic caused a sharp market decline while raising heterogeneous responses across companies related to their employees, supply chain, and repurposing of operations to provide needed products and services. We study whether during the 2020 COVID-19 induced market crash, investors...

The debate over how firm stakeholder engagement is tied to preserving shareholder wealth has received growing attention in recent years, especially in the wake of the COVID-19 crisis. Against this backdrop, we examine the relation between corporate social responsibility (CSR) and stock market...

In the past decade, the stakeholder approach has gained much acceptance among academics and practitioners. Noticeably, there has been little consideration of the motivations and processes used by businesses to avoid or neglect stakeholder power and pressures. This is all the more remarkable in...

This study analyzes the effect that banks' investments in corporate social responsibility (CSR) have on bank performance. I find that banks' investments in CSR have a positive impact on financial performance, measured in terms of both accounting performance and stock market value. However, not...

This paper begins with discussing how Coca-Cola paved its way from a rip off of Vin-Mariani (wine-cocoa luxury drink popular in the 18th century) to a global beverage brand, through diplomatic strategies, political lobbying, the formation of powerful allies and other strategies through covert...

The financial crisis has brought about dramatic consequences for economies and societies. Questions emerge about responsibility for the crisis and, implicitly or explicitly irresponsibility; the obligations to take responsibility for the costs and other adverse effects of the recession; and the...

Compared to conventional mutual funds, socially responsible mutual funds outperform during periods of market crisis. This dampening of downside risk comes at the cost of under performing during non-crisis periods. Investors with Prospect Theory utility functions would value the skewness of these...

The significant amount of research related to corporate social disclosure (CSD) over the last few decades indicates its importance. Prior studies have revealed continuous improvement in the level of CSD by corporations in different sectors. The recent economic and financial crisis has been...

We exploit the Great Recession of 2008 to study how firms view corporate social responsibility (CSR). When confronted with an adverse exogenous shock, firms are forced to prioritize. Our results show that, during the Great Recession, firms do not lessen their overall CSR investments, suggesting...

This chapter discusses the legal issues of rescue and corporate social responsibility during times of public crisis. It analyzes a corporate board's fiduciary duty related to the management of a public crisis and the provision of aid to government and the public. The thesis is that American...