We examine the value consequences of corporate social responsibility through the lens of institutional shareholders. We find a sharp asymmetry between corporate policies that mitigate the firm's exposure to environmental risk and those that enhance its perceived environmental friendliness...

Our study of 267 U.S. firms shows that improved environmental risk management is associated with a lower cost of capital. Our findings provide an alternative perspective on the environmental - economic performance relationship, which has been dominated by the view that improvements in economic...

We examine the value consequences of corporate social responsibility through the lens of institutional shareholders. We find a sharp asymmetry between corporate policies that mitigate the firm's exposure to environmental risk and those that enhance its perceived environmental friendliness...

Given the importance of the CEO in adapting to a changing environment, and the role that identification of opportunities for change plays in organizational adaptation, with this study we investigate the individual-level cognitive factors that affect change in a CEO's existing opportunity images....