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  1. Corporate Social Responsibility Performance, Incentives, and Learning Effects.Giovanni-Battista Derchi, Laura Zoni & Andrea Dossi - 2020 - Journal of Business Ethics 173 (3):617-641.
    This paper examines the effectiveness of the use of executive compensation linked to Corporate Social Responsibility goals across US firms. Empirical analysis of a cross-industry sample of 746 listed companies for the period 2002–2013 showed that the use of CSR-linked compensation contracts for Named Executive Officers promotes CSR performance. More specifically, we found that linking NEOs’ compensation to CSR goals produces positive effects in the 3rd year after adoption. As firms accumulate experience and learn how to use the system over (...)
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  • Board Diversity and Corporate Social Responsibility: Empirical Evidence From France.Rania Beji, Ouidad Yousfi, Nadia Loukil & Abdelwahed Omri - 2020 - Journal of Business Ethics 173 (1):133-155.
    This study analyzes how the board’s characteristics could be associated with globally corporate social responsibility CSR and specific areas of CSR. It is drawn on all listed firms, in 2016, on the SBF120 between 2003 and 2016. Our results provide strong evidence that diversity in boards and diversity of boards globally are positively associated with corporate social performance. However, they influence differently specific dimensions of CSR performance. First, we show that large boards are positively associated with all areas of CSR (...)
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  • Value-Enhancing Social Responsibility: Market Reaction to Donations by Family vs. Non-family Firms with Religious CEOs.Min Maung, Danny Miller, Zhenyang Tang & Xiaowei Xu - 2020 - Journal of Business Ethics 163 (4):745-758.
    Using a signaling framework, we argue that ethical behavior as evidenced by charitable donations is viewed more positively by investors when seen not to be based on self-serving motives but rather on authentic generosity that builds moral capital. The affirmed religiosity of CEOs may make their ethical position more credible, while their embeddedness within a family business suggests that CEOs are backed by powerful owners with long-time horizons and a desire to build moral capital with stakeholders. We find in a (...)
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  • Environmental, Social and Governance (ESG) Scores and Financial Performance of Multilatinas: Moderating Effects of Geographic International Diversification and Financial Slack.Eduardo Duque-Grisales & Javier Aguilera-Caracuel - 2019 - Journal of Business Ethics 168 (2):315-334.
    This paper examines whether a firm’s financial performance is associated with superior environmental, social and governance scores in emerging markets of multinationals in Latin America. The study addresses the current research gap on this issue; it develops hypotheses and tests them by applying linear regressions with a data panel drawn from the Thomson Reuters Eikon™ database to analyse data on 104 multinationals from Brazil, Chile, Colombia, Mexico and Peru between 2011 and 2015. The results suggest that the relationship between the (...)
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  • Is Doing Bad Always Punished? A Moderated Longitudinal Analysis on Corporate Social Irresponsibility and Firm Value.Zhihua Ding & Wenbin Sun - 2021 - Business and Society 60 (7):1811-1848.
    Theoretical evidence suggests that corporate social irresponsibility should produce long-lasting negative influences on firm performance. Yet, little empirical evidence exists in the literature to support this time-embedded research frame. This research was conducted by collecting a large set of firm data and by employing a series of vector autoregressive models to map out the longitudinal dynamic relationships between CSI and firm value under high versus low levels of two external factors, environmental dynamism and competition intensity, and one internal factor, firm (...)
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  • Towards the Development of an Empirical Model for Islamic Corporate Social Responsibility: Evidence from the Middle East.Petya Koleva - 2020 - Journal of Business Ethics 171 (4):789-813.
    Academic research suggests that variances in contextual dynamics, and more specifically religion, may lead to disparate perceptions and practices of corporate social responsibility. Driven by the increased geopolitical and economic importance of the Middle East and identified gaps in knowledge, the study aims to examine if indeed there is a divergent form of CSR exercised in the region. The study identifies unique CSR dimensions and constructs presented through an empirical framework in order to outline the practice and perception of CSR (...)
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  • Do Returnee Executives Value Corporate Philanthropy? Evidence from China.Lin Zhang, Yuehua Xu & Honghui Chen - forthcoming - Journal of Business Ethics:1-20.
    While past studies have enriched our understanding of the impact of returnee executives on firm market strategy and outcomes, we know relatively little about the relationship between returnee executives and firm nonmarket strategies. Grounded in upper echelons theory, this study explores the relationship between returnee executives and corporate philanthropy, the latter of which is an important nonmarket strategy in emerging economies such as China. Using data on publicly listed Chinese companies from 2010 to 2017, we find that the proportion of (...)
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  • Does Equity Ownership Matter for Corporate Social Responsibility? A Literature Review of Theories and Recent Empirical Findings.Christian M. Faller & Dodo zu Knyphausen-Aufseß - 2018 - Journal of Business Ethics 150 (1):15-40.
    Based on the concept of shareholder primacy, many scholars have argued that it is more important for businesses to earn profits for their shareholders than to provide benefits to society at large. Corporate social responsibility is often regarded as an investment that comes at the expense of shareholders. In contrast, research analyzing the connections between the equity ownership structure of a company and its level of CSR engagement suggests that CSR offers benefits to shareholders that go beyond direct financial returns (...)
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  • New Evidence on the Role of the Media in Corporate Social Responsibility.Ajay Patel, Robert Nash, Omrane Guedhami & Sadok El Ghoul - 2019 - Journal of Business Ethics 154 (4):1051-1079.
    Prior research suggests that the media plays an important information intermediary role in capital markets. We investigate the role of the media in influencing firms’ engagement in corporate social responsibility activities. Using a large sample of 4396 unique firms from 42 countries over the period 2003–2012, we find strong evidence that firms engage in more CSR activities if located in countries where the media has more freedom. This relation is robust to using various proxies for media freedom, an alternative source (...)
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  • Business Strategy and Corporate Social Responsibility.Yuan Yuan, Louise Yi Lu, Gaoliang Tian & Yangxin Yu - 2020 - Journal of Business Ethics 162 (2):359-377.
    This study examines the relation between a firm’s business strategy and its corporate social responsibility performance. Using a comprehensive measure of business strategy based on the Miles and Snow theoretical framework, we find that firms following an innovation-oriented strategy are associated with better CSR performance than those following an efficiency-oriented strategy. Specifically, compared with defenders, prospectors engage in more socially responsible activities, fewer socially irresponsible activities, and perform better in both stakeholder- and third-party-related CSR areas. Taken together, our results suggest (...)
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  • Is There Informational Value in Corporate Giving?Kiyoung Chang, Hoje Jo & Ying Li - 2018 - Journal of Business Ethics 151 (2):473-496.
    In this article, we propose that giving in cash and non-cash differ in their relation with the giving firm’s future corporate financial performance and only cash giving is associated with future CFP. Using a novel dataset from ASSET4 that differentiates corporate giving over a sample period of 2002–2012, we examine three competing hypotheses: agency cost hypothesis that cash giving reflects agency cost and destroys value for shareholders, investment hypothesis that cash giving is an investment by management that aims for better (...)
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  • Employee Treatment and Contracting with Bank Lenders: An Instrumental Approach for Stakeholder Management.Haizhi Wang, Liuling Liu, Iftekhar Hasan & Bill Francis - 2019 - Journal of Business Ethics 158 (4):1029-1046.
    Adopting an instrumental approach for stakeholder management, we focus on two primary stakeholder groups to investigate the relationship between employee treatment and loan contracts with banks. We find strong evidence that fair employee treatment reduces loan price and limits the use of financial covenants. In addition, we document that relationship bank lenders price both the levels and changes in the quality of employee treatment, whereas first-time bank lenders only care about the levels of fair employee treatment. Taking a contingency perspective, (...)
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  • The Role of Mutual Funds in Corporate Social Responsibility.Zhichuan Frank Li, Saurin Patel & Srikanth Ramani - forthcoming - Journal of Business Ethics:1-23.
    This paper examines the role of mutual funds in corporate social responsibility. Using a fund-level, holdings-based CSR score, we find that CSR-friendly mutual funds improve firms’ CSR standings. This effect is more pronounced for firms with higher mutual fund ownership and stronger corporate governance. We further show that while CSR-friendly mutual funds have influence on almost all CSR categories, they focus on increasing CSR strengths rather than reducing CSR concerns. We also discover that CSR-friendly funds are more likely to vote (...)
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  • Exploring the Curvature of the Relationship Between HRM–CSR and Corporate Financial Performance.Olivier Meier, Philippe Naccache & Guillaume Schier - 2021 - Journal of Business Ethics 170 (4):857-873.
    This article contributes to the general literature on the relationship between corporate social performance and corporate financial performance, as well as to the emerging HRM–CSR literature, by exploring the curvature of the relationship between HRM–CSP and CFP. We advance conceptual arguments in favor of an inverted U-shaped relationship. Our results demonstrate a significant quadratic relationship between HRM–CSP and CFP. We provide evidence that this relationship is not linear or S-shaped but rather inverted U-shaped.
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  • Corporate Governance and Corporate Social Responsibility Disclosures: Evidence From an Emerging Economy. [REVIEW]Arifur Khan, Mohammad Badrul Muttakin & Javed Siddiqui - 2013 - Journal of Business Ethics 114 (2):207-223.
    We examine the relationship between corporate governance and the extent of corporate social responsibility (CSR) disclosures in the annual reports of Bangladeshi companies. A legitimacy theory framework is adopted to understand the extent to which corporate governance characteristics, such as managerial ownership, public ownership, foreign ownership, board independence, CEO duality and presence of audit committee influence organisational response to various stakeholder groups. Our results suggest that although CSR disclosures generally have a negative association with managerial ownership, such relationship becomes significant (...)
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  • Board Composition and Corporate Social Responsibility: The Role of Diversity, Gender, Strategy and Decision Making.Kathyayini Rao & Carol Tilt - 2016 - Journal of Business Ethics 138 (2):327-347.
    This paper aims to critically review the existing literature on the relationship between corporate governance, in particular board diversity, and both corporate social responsibility and corporate social responsibility reporting and to suggest some important avenues for future research in this field. Assuming that both CSR and CSRR are outcomes of boards’ decisions, this paper proposes that examining boards’ decision making processes with regard to CSR would provide more insight into the link between board diversity and CSR. Particularly, the paper stresses (...)
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  • The Global Diffusion of Supply Chain Codes of Conduct: Market, Nonmarket, and Time-Dependent Effects.Thomas G. Altura, Anne T. Lawrence & Ronald M. Roman - 2021 - Business and Society 60 (4):909-942.
    Why and how have supply chain codes of conduct diffused among lead firms around the globe? Prior research has drawn on both institutional and stakeholder theories to explain the adoption of codes, but no study has modeled adoption as a temporally dynamic process of diffusion. We propose that the drivers of adoption shift over time, from exclusively nonmarket to eventually market-based mechanisms as well. In an analysis of an original data set of more than 1,800 firms between the years 2006 (...)
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  • A Further Examination of the Impact of Corporate Social Responsibility and Governance on Investment Decisions.Jeffrey Cohen, Lori Holder-Webb & Samer Khalil - 2017 - Journal of Business Ethics 146 (1):203-218.
    The value relevance of corporate social responsibility performance disclosures for financial markets participants remains uncertain despite advances in the literature and the recent proliferation of CSR disclosures around the world. Using an experimental approach involving MBA students at universities in the United States and Lebanon, we study the value relevance of CSR disclosures by testing whether they affect participants’ personal portfolio management investment decisions. We also examine whether the degree to which the CSR disclosures affect these decisions is influenced by (...)
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  • Religious Values Motivating CSR: An Empirical Study from Corporate Leaders’ Perspective.Bo Xu & Linlin Ma - forthcoming - Journal of Business Ethics:1-19.
    Using a panel data of 806 U.S. firms from 2006 to 2015, we find that in their ratings of corporate social responsibility performance, firms with top managers who attended religiously affiliated schools outperform their peers with no such managers. The positive relationship between religious school attendance and CSR performance is stronger among firms with lower level of community religiosity or less external monitoring. Our findings lend support to early theoretical work that suggests managerial CSR-oriented values can be key motivating factors (...)
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  • Contemplating the Impact of the Moderators Agency Cost and Number of Supervisors on Corporate Sustainability Under the Aegis of a Cognitive CEO.Muddassar Sarfraz, Ilknur Ozturk, Syed Ghulam Meran Shah & Adnan Maqbool - 2020 - Frontiers in Psychology 11.
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  • How Market Value Relates to Corporate Philanthropy and its Assurance. The Moderating Effect of the Business Sector.Lourdes Arco‐Castro, Maria Victoria López‐Pérez, Maria Carmen Pérez‐López & Lázaro Rodríguez‐Ariza - 2020 - Business Ethics: A European Review 29 (2):266-281.
    Business Ethics: A European Review, EarlyView.
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  • CSR and Banking Soundness: A Causal Perspective.Sana Ben Abdallah, Dhafer Saïdane & Mehrez Ben Slama - 2020 - Business Ethics: A European Review 29 (4):706-721.
    Business Ethics: A European Review, EarlyView.
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  • Corporate Social Responsibility and Firm Debt Maturity.Mohammed Benlemlih - 2017 - Journal of Business Ethics 144 (3):491-517.
    In this article, we extend the streams of research on the capital structure of socially responsible firms by investigating the impact of corporate social responsibility on firm debt maturity. Using a large sample of US firms, we provide evidence that high CSR firms significantly reduce their debt maturity. In particular, our results suggest that diversity and community are the dimensions that matter the most in explaining debt maturity. In additional analyses that use a seemingly unrelated regression approach, our results show (...)
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  • Value-Enhancing Capabilities of CSR: A Brief Review of Contemporary Literature.Mahfuja Malik - 2015 - Journal of Business Ethics 127 (2):419-438.
    This study reviews and synthesizes the contemporary business literature that focuses on the role of corporate social responsibility to enhance firm value. The main objective of this review is to proffer a precise understanding of what has already been investigated and the findings of those investigations regarding the value-enhancing capabilities of CSR for public firms. In addition, this review identifies gaps in the existing literature, evaluates inconsistent findings, discusses possible data sources for empirical researchers, and provides direction for exploring other (...)
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  • Achieving Shared Triple Bottom Line (TBL) Value Creation: Toward a Social Resource-Based View (SRBV) of the Firm.Wendy L. Tate & Lydia Bals - 2018 - Journal of Business Ethics 152 (3):803-826.
    While the economic and environmental dimensions of the triple bottom line have been covered extensively by management theory and practice, the social dimension remains largely underrepresented. The resource-based view of the firm and the natural resource-based view of the firm are revisited to lay the theoretical foundation for exploring how the social dimension might be addressed. Social capabilities are then explored by looking at the social entrepreneurship literature and illustrative cases with the purpose of elaborating RBV toward a social resource-based (...)
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  • Corporate Social Responsibility and Investment Efficiency.Mohammed Benlemlih & Mohammad Bitar - 2018 - Journal of Business Ethics 148 (3):647-671.
    Using a sample of 21,030 US firm-year observations that represents more than 3000 individual firms over the 1998–2012 period, we investigate the relationship between Corporate Social Responsibility and investment efficiency. We provide strong and robust evidence that high CSR involvement decreases investment inefficiency and consequently increases investment efficiency. This result is consistent with our expectations that high CSR firms enjoy low information asymmetry and high stakeholder solidarity. Moreover, our findings suggest that CSR components that are directly related to firms’ primary (...)
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  • The Causal Effect of Corporate Governance on Corporate Social Responsibility.Hoje Jo & Maretno A. Harjoto - 2012 - Journal of Business Ethics 106 (1):53-72.
    In this article, we examine the empirical association between corporate governance (CG) and corporate social responsibility (CSR) engagement by investigating their causal effects. Employing a large and extensive US sample, we first find that while the lag of CSR does not affect CG variables, the lag of CG variables positively affects firms’ CSR engagement, after controlling for various firm characteristics. In addition, to examine the relative importance of stakeholder theory and agency theory regarding the associations among CSR, CG, and corporate (...)
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  • Doing Well While Doing Bad? CSR in Controversial Industry Sectors.Ye Cai, Hoje Jo & Carrie Pan - 2012 - Journal of Business Ethics 108 (4):467 - 480.
    In this article, we examine the empirical association between firm value and CSR engagement for firms in sinful industries, such as tobacco, gambling, and alcohol, as well as industries involved with emerging environmental, social, or ethical issues, i.e., weapon, oil, cement, and biotech. We develop and test three hypotheses, the window-dressing hypothesis, the value-enhancement hypothesis, and the value-irrelevance hypothesis. Using an extesive US sample from 1995 to 2009, we find that CSR engagement of firms in controversial industries positively affects firm (...)
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  • Does CSR Reduce Firm Risk? Evidence From Controversial Industry Sectors.Hoje Jo & Haejung Na - 2012 - Journal of Business Ethics 110 (4):441-456.
    In this paper, we examine the relation between corporate social responsibility (CSR) and firm risk in controversial industry sectors. We develop and test two competing hypotheses of risk reduction and window dressing. Employing an extensive U.S. sample during the 1991-2010 period from controversial industry firms, such as alcohol, tobacco, gambling, and others, we find that CSR engagement inversely affects firm risk after controlling for various firm characteristics. To deal with endogeneity issue, we adopt a system equation approach and difference regressions (...)
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  • Ownership Concentration and CSR Policy of European Multinational Enterprises.Lammertjan Dam & Bert Scholtens - 2013 - Journal of Business Ethics 118 (1):117-126.
    This study investigates how ownership concentration in European multinational firms is associated with these firms’ corporate social responsibility (CSR). We employ factor analysis on responsibility data from EIRiS and use a regression analysis. Using firm-level data for almost 700 European firms, we find that shareholder concentration is significantly related to such policies. That is, more concentrated ownership goes hand in hand with poorer CSR policies. In our analysis, we control for size, leverage, profitability, industry, and country of origin. We use (...)
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  • How Do Board Size and Occupational Background of Directors Influence Social Performance in For-Profit and Non-Profit Organizations? Evidence From California Hospitals.Ge Bai - 2013 - Journal of Business Ethics 118 (1):171-187.
    This study investigates how board size and occupational background of directors differentially influence social performance in for-profit and non-profit organizations. Using data from California hospitals, we develop a quantitative measure of social performance and provide the following empirical evidence. First, board size is negatively (positively) associated with social performance in for-profit (non-profit) hospitals. Second, the presence of government officials on the board is negatively (positively) related to social performance in for-profit (non-profit) hospitals. Third, representation of physicians on the board is (...)
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  • The Effect of Corporate Social Performance on Financial Performance: The Moderating Effect of Ownership Concentration.Chih-Wei Peng & Mei-Ling Yang - 2014 - Journal of Business Ethics 123 (1):171-182.
    The purpose of this study is to extend prior research on this topic by investigating whether the impact of ownership concentration moderates the link between corporate social performance and financial performance. This study uses a set of unique, hand-collected pollution control data to measure CSP, based on a sample of Taiwanese listed companies during the period from 1996 to 2006. The results of the empirical analysis provide firm support for the idea that the divergence between control rights and the cash (...)
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  • Corporate Social Responsibility and Firm Value: Disaggregating the Effects on Cash Flow, Risk and Growth.Alan Gregory, Rajesh Tharyan & Julie Whittaker - 2014 - Journal of Business Ethics 124 (4):1-25.
    This paper investigates the effect of corporate social responsibility (CSR) on firm value and seeks to identify the source of that value, by disaggregating the effects on forecasted profitability, long-term growth and the cost of capital. The study explores the possible risk (reducing) effects of CSR and their implications for financial measures of performance. For individual dimensions of CSR, in general strengths are positively valued and concerns are negatively valued, although the effect is not universal across all dimensions of CSR. (...)
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  • The Heterogeneous Impact of Corporate Social Responsibility Activities That Target Different Stakeholders.Kiyoung Chang, Incheol Kim & Ying Li - 2014 - Journal of Business Ethics 125 (2):1-24.
    We aggregate different dimensions of corporate social responsibility (CSR) activities following the stakeholder framework proposed in Clarkson (Acad Manag Rev 20(1), 92–117, 1995) and present consistent evidence that CSR strengths targeting different stakeholders have their unique impact on firm risk and financial performance. Institutional CSR activities that target secondary stakeholders are negatively associated with firm risk, measured by total risk and systematic risk. Technical CSR that target primary stakeholders are positively associated with firm financial performance, measured by Tobin’s Q, ROA, (...)
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  • Corporate Governance and Corporate Social Responsibility Disclosure: Evidence From the US Banking Sector. [REVIEW]Mohammad Issam Jizi, Aly Salama, Robert Dixon & Rebecca Stratling - 2014 - Journal of Business Ethics 125 (4):1-15.
    There is a distinct lack of research into the relationship between corporate governance and corporate social responsibility (CSR) in the banking sector. This paper fills the gap in the literature by examining the impact of corporate governance, with particular reference to the role of board of directors, on the quality of CSR disclosure in US listed banks’ annual reports after the US sub-prime mortgage crisis. Using a sample of large US commercial banks for the period 2009–2011 and controlling for audit (...)
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  • Legal Vs. Normative CSR: Differential Impact on Analyst Dispersion, Stock Return Volatility, Cost of Capital, and Firm Value.Maretno A. Harjoto & Hoje Jo - 2015 - Journal of Business Ethics 128 (1):1-20.
    This study examines how the sell-side analysts interpret firms’ corporate social responsibility activities. Specifically, we examine the differential impact of overall, legal, and normative CSR on the analysts’ earnings forecast dispersion, stock return volatility, cost of equity capital, and firm value. Employing a sample of U.S. public firms during 1993–2009, we find that overall CSR intensities reduce analyst dispersion of earnings forecast, volatility of stock return and cost of capital , and increase firm value. However, its impact is reduced for (...)
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  • Workforce Diversity and Religiosity.Jinhua Cui, Hoje Jo, Haejung Na & Manuel G. Velasquez - 2015 - Journal of Business Ethics 128 (4):743-767.
    Workforce diversity has received increasing amounts of attention from academics and practitioners alike. In this article, we examine the empirical association between a firm’s workforce diversity and the degree of religiosity of the firm’s management by investigating their unidirectional and endogenous effects. Employing a large and extensive U.S. sample of firms from the years 1991–2010, we find a positive association between a measure of the firm’s commitment to diversity and the religiosity of the firm’s management after controlling for various firm (...)
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  • Corporate Social Responsibility and Insider Trading.Jinhua Cui, Hoje Jo & Yan Li - 2015 - Journal of Business Ethics 130 (4):869-887.
    This study examines the impact of corporate social responsibility activities on insider trading. While opponents of insider trading claim that the buying or selling of a security by insiders who have access to non-public information is illegal, proponents argue that insider trading improves economic efficiency and fairness when corporate insiders buy and sell stock in their own companies. Based on extensive U.S. data of insider trading and CSR engagement, we find that both the number of insider transactions and the volume (...)
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  • The Effects of Women on Corporate Boards on Firm Value, Financial Performance, and Ethical and Social Compliance.Helena Isidro & Márcia Sobral - 2015 - Journal of Business Ethics 132 (1):1-19.
    The European Commission has recently proposed the introduction of legally binding quotas for women on corporate boards of European companies. This proposal has put the spotlight on the question of whether increasing female representation on the board brings economic benefits to the firm. In order to shed light on the issue, this study investigates the direct and indirect effects of women on the board on firm value. We use a simultaneous equation model to estimate the effects of women on the (...)
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  • Board Diversity and Corporate Social Responsibility.Maretno Harjoto, Indrarini Laksmana & Robert Lee - 2015 - Journal of Business Ethics 132 (4):641-660.
    This study examines the impact of board diversity on firms’ corporate social responsibility performance. Using seven different measures of board diversity across 1,489 U.S. firms from 1999 to 2011, the study finds that board diversity is positively associated with CSR performance. Board diversity is associated with a greater number of areas in which CSR is strong and a fewer number of areas in which CSR is a concern. These findings support the stakeholder theory and are consistent with the view that (...)
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  • Vice or Virtue? The Impact of Corporate Social Responsibility on Executive Compensation.Ye Cai, Hoje Jo & Carrie Pan - 2011 - Journal of Business Ethics 104 (2):159-173.
    We empirically examine the impact of corporate social responsibility (CSR) on CEO compensation using a large sample of the US firms from 1996 to 2010. We develop and test two hypotheses, the overinvestment hypothesis based on agency theory and the conflict–resolution hypothesis based on stakeholder theory. We find that the lag of CSR adversely affects both total compensation and cash compensation, after controlling for various firm and board characteristics. Our estimates show that an interquartile increase in CSR is followed by (...)
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  • Christian Religiosity and Corporate Community Involvement.Jinhua Cui, Hoje Jo & Manuel G. Velasquez - 2019 - Business Ethics Quarterly 29 (1):85-125.
    ABSTRACT:We examine whether religion influences company decisions related to corporate community involvement. Employing a large US sample, we show that the CCI initiatives of a company are positively associated with the level of Christian religiosity present in the region within which that company’s headquarters is located. This association persists even after we control for a wide range of firm characteristics and after we subject our results to several econometric tests. These results support our religious morality hypothesis which holds that companies (...)
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  • The Impact of Corporate Welfare Policy on Firm-Level Productivity: Evidence From Unemployment Insurance.Masako Darrough, Heedong Kim & Emanuel Zur - 2019 - Journal of Business Ethics 159 (3):795-815.
    We study how changes in unemployment risk affect firms’ productivity and whether firm-initiated policies can mitigate the moral hazard problem created by increases in unemployment insurance benefits that might decrease workers’ incentives to work hard. We focus on state-specific changes in UIB levels as a quasi-natural experiment. While a large body of research has examined UIBs, including their effect on unemployed workers, few studies investigate whether UIBs have any impact on a firm’s overall productivity. Using data on firm-level total factor (...)
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  • Female Institutional Directors on Boards and Firm Value.María Consuelo Pucheta-Martínez, Inmaculada Bel-Oms & Gustau Olcina-Sempere - 2018 - Journal of Business Ethics 152 (2):343-363.
    The aim of this research is to examine what impact female institutional directors on boards have on corporate performance. Previous research shows that institutional female directors cannot be considered as a homogeneous group since they represent investors who may or may not maintain business relations with the companies on whose corporate boards they sit. Thus, it is not only the effect of female institutional directors as a whole on firm value that has been analysed, but also the impact of pressure-resistant (...)
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  • Pray Local and Act Global? Christian Religiosity in the U.S. And Human Rights.Jinhua Cui & Hoje Jo - 2019 - Business Ethics: A European Review 28 (3):361-378.
    Business Ethics: A European Review, EarlyView.
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  • Board Attributes, Corporate Social Responsibility Strategy, and Corporate Environmental and Social Performance.Amama Shaukat, Yan Qiu & Grzegorz Trojanowski - 2016 - Journal of Business Ethics 135 (3):569-585.
    In this paper, we draw on insights from theories in the management and corporate governance literature to develop a theoretical model that makes explicit the links between a firm’s corporate social responsibility related board attributes, its board CSR strategy, and its environmental and social performance. We then test the model using structural equation modeling approach. We find that the greater the CSR orientation of the board, the more proactive and comprehensive the firm’s CSR strategy, and the higher its environmental and (...)
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  • CEO Ability and Corporate Social Responsibility.Yuan Yuan, Gaoliang Tian, Louise Yi Lu & Yangxin Yu - 2019 - Journal of Business Ethics 157 (2):391-411.
    This study examines the impact of chief executive officer ability on firms’ corporate social responsibility performance. We find that firms’ CSR performance increases with CEO ability. Specifically, firms with more able CEOs are associated with more socially responsible activities and fewer socially irresponsible activities, and are associated with more stakeholder CSR rather than third-party CSR. We further find that the positive relation between CEO ability and CSR is weakened for CEO who is also the chair of the board and for (...)
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  • Corporate Social Responsibility and Growth Opportunity: The Case of Real Estate Investment Trusts.Kevin C. H. Chiang, Gregory J. Wachtel & Xiyu Zhou - 2019 - Journal of Business Ethics 155 (2):463-478.
    Corporate social responsibility involvement and disclosure has been becoming increasingly popular among US public firms, including those that qualify as real estate investment trusts. This paper aims to discover the relationship between CSR involvement and potential determinants such as growth opportunities, profitability, visibility, and agency costs. Types of CSR involvement are assessed in terms of environmental, community, and governance disclosures and are quantified using word count from the company’s voluntary disclosure. Our results support the hypothesis that CSR has a strategic (...)
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  • To What Extent Do Gender Diverse Boards Enhance Corporate Social Performance?Claude Francoeur, Réal Labelle, Souha Balti & Saloua E. L. Bouzaidi - 2019 - Journal of Business Ethics 155 (2):343-357.
    The inconclusiveness of previous research on the association between gender diverse boards and corporate social performance has led us to revisit the question in light of stakeholder management and institutional theories. Given that corporate social responsibility is a multidimensional concept, we test the influence of GDB on various groups of stakeholders. By considering the interaction between stakeholders’ power and directors’ personal motivations toward the prioritization of stakeholders’ claims, we find that GDB are positively related to CSR dimensions that are related (...)
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  • Corporate Environmental Responsibilities and Executive Compensation: A Risk Management Perspective.Jongyu Paula Hao & Fei Kang - 2019 - Business and Society Review 124 (1):145-179.
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