We examine the role of corporate culture in M&As by utilizing a unique corporate social responsibility (CSR) dataset, providing in-depth information on multiple dimensions of organizational culture in 22 developed markets. In accordance with the prediction of the culture clash theory, a wider...

Corporate customers are an important stakeholder in global supply chains. We employ several unique international databases to test whether socially responsible corporate customers can infuse similar socially responsible business behavior in suppliers. Our findings suggest a unilateral effect on...

Socially Responsible Investing (SRI), which integrates social and environmental criteria into traditional investment decision process, has emerged as a new concept in investing, especially in the wake of growing concerns for corporate social responsibility. This paper provides an extensive...

When seeking to influence firms' behaviors, investors have a range of strategic alternatives through which pressure can be exerted. These approaches range from collaborative dialogue with firms, to other more coercive methods such as divesting their shareholdings. However, limited consideration...

We study the effect of corporate cultural similarity on merger decisions and outcomes. Using the similarity in firms' corporate social responsibility characteristics to proxy for cultural similarity, we find that culturally similar firms are more likely to merge. Moreover, these mergers are...

We study the pace at which socially responsible investors can induce firms to reduce negative externalities in private capital markets. Investors with broad preferences, who care about firm externalities independent of their ownership in the firm, value acquiring firms with high production...

This paper documents a negative effect of institutional cross-blockholding on portfolio firms’ corporate social responsibility (CSR) performance. Our baseline results show that cross-held firms perform worse in CSR than non-cross-held firms do. A quasi-natural experiment based on mergers...

Using archival material and underutilized printed sources this article provides an intellectual history of Milton Friedman’s critique of corporate social responsibility. This evidence demonstrates how his arguments developed within the context of ‘neoliberal’ discussion in Europe and the...

We examine the effects of CSR information on stakeholder decision-making, specifically on supply-chain contracting decisions. To obtain plausibly exogenous variation in CSR information, we exploit the 2017 CSR rating coverage expansion from Russell 1000 to Russell 2000 firms (hereafter,...