Although it is an accepted methodology to exclude financial companies from any comparative financial analysis of a sample of companies when performance is being analyzed, and this exclusion is due to the different financial structure of such organization, it seems to have also become standard...

Family firms are playing an important role in the world economy. In some countries, especially in Asia and continental Europe, the family firm is the main form of corporation.Although corporate governance is usually addressed to corporations with high dispersion, corporate governance and...

This study focuses on the wealth-protective effects of socially responsible firm behavior by examining the association between corporate social performance (CSP) and financial risk for an extensive panel data sample of S&P 500 companies between the years 1992 and 2009. In addition, the link...

This study examines whether product market competition affects corporate social responsibility (CSR). To obtain exogenous variation in product market competition, I exploit a quasi-natural experiment provided by large import tariff reductions that occurred between 1992 and 2005 in the U.S....

In 2010, Maryland became the first state to allow firms to incorporate as “benefit corporations,” which are for-profit entities with a social purpose. Since then, nineteen other states have followed. Using survey data from the population of 94 benefit corporations existent at the time of 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...

Using Corporate Social Responsibility (CSR) performance scores from KLD STAT, we investigate whether CSR performance affects information asymmetry. We find that both positive and negative CSR performance reduce information asymmetry. Moreover, we find that the influence of negative CSR...

In an increasingly resource-constrained and unequal world, luxury brands are normally expected to be more accountable in justifying the value of their products. Despite strong societal drivers for greater sustainability, the majority of luxury labels have traditionally been slow to recognize...

Social and environmental ratings provided by social rating agencies are multidimensional. Using the six sub-ratings provided by the Vigeo rating agency, we perform a principal component analysis and we highlight three main socially responsible (SR) dimensions related to (1) the direct...

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...