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Akey, Pat; Lewellen, Stefan; Liskovich, Inessa - 2018

We exploit unexpected corporate data breaches to study how firms respond to negative reputation events. Data breaches negatively affect firm profitability, value, and reputation for years following the event, but are not triggered by high or low reputations. In response, firms increase their...

Persistent link: https://www.econbiz.de/10011897968

Corporate Green Bonds : Market Response and Corporate Response

Bhagat, Sanjai; Yoon, Aaron - 2023

We analyze the stock market response to a comprehensive international sample of 1,560 corporate green bond announcements between January 2013 and January 2022. We do not find any significant market response to these green bond announcements. We conduct a battery of tests to check the robustness...

Persistent link: https://www.econbiz.de/10014349672

Corporate Social Responsibility and Hedging Policies

Agcayazi, Busra; Lonare, Gunratan; Tuncez, Ahmet M. - 2023

This paper delves into the primary association between corporate social responsibility (CSR) and hedging strategies. By employing textual analysis of 10-K filings to measure corporate hedging, we demonstrate that firms with higher levels of CSR are more inclined to engage in hedging practices...

Persistent link: https://www.econbiz.de/10014355754

Corporate Social Responsibility, Product Market Perception and Firm Value

Bardos, Katsiaryna - 2020

We examine whether corporate social responsibility (CSR) is used to signal product quality and whether CSR affects firm value through its positive effect on product market perception. Using a proprietary database, we find that visible CSR, such as environmental and community involvement,...

Persistent link: https://www.econbiz.de/10012853803

Trade Shocks and the Role of Stakeholder Preference in Corporate Social Responsibility

Banerjee, Shantanu - 2020

This paper investigates the role of stakeholder preference on corporate social responsibility (CSR). We find that Indian firms increase CSR expenses when trade restrictions (Antidumping) are initiated against competing Chinese exports from countries with a high stakeholder preference for CSR....

Persistent link: https://www.econbiz.de/10012854055

ESG Shareholder Engagement and Downside Risk

Hoepner, Andreas G. F. - 2020

We examine whether engagement on environmental, social and governance (ESG) issues can benefit shareholders by reducing firms' downside risk, measured using the lower partial moment and value at risk. Using a proprietary database, we provide evidence supporting this hypothesis. We further find...

Persistent link: https://www.econbiz.de/10012854933

Corporate Social Responsibility and CEO Risk-Taking Incentives

Dunbar, Craig G. - 2020

We examine how firms adjust CEO risk-taking incentives in response to risk environments as-sociated with their corporate social responsibility (CSR) standing. We find strong evidence that as a firm's CSR status improves (declines), increasing (decreasing) its risk-taking capacity, the firm...

Persistent link: https://www.econbiz.de/10012855215

Corporate Social Responsibility and Dividend Policy

Benlemlih, Mohammed - 2020

Using a sample of 22,839 US firm-year observations over the 1991-2012 period, we find that high CSR firms pay more dividends than low CSR firms. The analysis of individual components of CSR provides strong support for this main finding: five of the six individual dimensions are also associated...

Persistent link: https://www.econbiz.de/10012856331

Corporate Environmental Responsibility and the Cost of Capital : International Evidence

El Ghoul, Sadok - 2020

alternative specifications and proxies for the cost of equity capital, to accounting for noise in analyst forecasts, and to …

Persistent link: https://www.econbiz.de/10012856614

Corporate Social Responsibility and Market Efficiency : Evidence from ESG and Misvaluation Measures

Bofinger, Yannik - 2020

We study the impact of corporate sustainability on market efficiency in the US. Our results indicate that a firm … sustainability leads to a higher ratio of actual to true firm value. Analyzing the relation between ESG and misvaluation separately … moderating role of market sentiment towards sustainability in the ESG-misvaluation relationship …

Persistent link: https://www.econbiz.de/10012837550