Harjoto, Maretno A. - 2016
We hypothesize that CSR serves as a control mechanism to curb excessive risk taking and to reduce excessive risk … avoidance. Firms with CSR focus must balance the interests of multiple stakeholders, and therefore, must allocate resources to … 1,718 U.S. firms during 1998 to 2011, we find that stronger CSR performance is associated with lower level of risk …