Narrow search
Showing 1 - 10 of 84
Cover Image
Corporate Social Responsibility and Managerial Entrenchment
Cespa, Giovanni; Cestone, Giacinta - C.E.P.R. Discussion Papers - 2004
When stakeholder protection is left to the voluntary initiative of managers, relations with social activists may become … increased by the institutionalization of stakeholder protection depriving incumbent CEOs of activists’ support. This finding … to stakeholder protection even in case of managerial replacement. Our theory also explains a recent trend whereby social …
Persistent link: https://www.econbiz.de/10005504332
Cover Image
Would Multilateral Trade Reform Benefit Sub-Saharan Africans?
Anderson, Kym; Martin, Will; van der Mensbrugghe, Dominique - C.E.P.R. Discussion Papers - 2005
This paper examines whether, in the presence of trade preferences, Sub-Saharan African economies, and especially its poorest households, could gain from multilateral trade reform. The World Bank’s LINKAGE model of the global economy is employed to examine the impact first of current trade...
Persistent link: https://www.econbiz.de/10005792269
Cover Image
Human Development in Africa: A Long-run Perspective
Prados de la Escosura, Leandro - C.E.P.R. Discussion Papers - 2011
Long-run trends in Africa’s well-being are provided on the basis of a new index of human development, alternative to the UNDP’s HDI. A sustained improvement in African human development is found that falls, nonetheless, short of those experienced in other developing regions. Within Africa,...
Persistent link: https://www.econbiz.de/10009322973
Cover Image
Social Capital, Trust, and Firm Performance during the Financial Crisis
Lins, Karl; Servaes, Henri; Tamayo, Ane - C.E.P.R. Discussion Papers - 2015
stakeholders and investors, built through investments in social capital, pays off when the overall level of trust in corporations …
Persistent link: https://www.econbiz.de/10011165644
Cover Image
Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around The World
Edmans, Alex; Li, Lucius; Zhang, Chendi - C.E.P.R. Discussion Papers - 2014
We study the relationship between employee satisfaction and abnormal stock returns around the world, using lists of the “Best Companies to Work For” in 14 countries. We show that employee satisfaction is associated with positive abnormal returns in countries with high labor market...
Persistent link: https://www.econbiz.de/10011083605
Cover Image
Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence
Albuquerque, Rui; Durnev, Artyom; Koskinen, Yrjö - C.E.P.R. Discussion Papers - 2013
This paper presents an industry equilibrium model where firms can choose to engage in corporate social responsibility (CSR) activities. We model CSR activities as an investment in customer loyalty and show that CSR decreases systematic risk and increases firm value. These effects are stronger...
Persistent link: https://www.econbiz.de/10011083749
Cover Image
Voluntary Corporate Environmental Initiatives and Shareholder Wealth
Fisher-Vanden, Karen; Thorburn, Karin S - C.E.P.R. Discussion Papers - 2008
Researchers debate whether environmental investments reduce firm value or can actually improve financial performance. We provide some first evidence on shareholder wealth effects of voluntary corporate environmental initiatives. Companies announcing membership in Climate Leaders and Ceres - two...
Persistent link: https://www.econbiz.de/10005662265
Cover Image
Economics and Climate Change: Integrated Assessment in a Multi-Region World
Hassler, John; Krusell, Per - C.E.P.R. Discussion Papers - 2012
This paper develops a model that integrates the climate and the global economy---an integrated assessment model---with which different policy scenarios can be analyzed and compared. The model is a dynamic stochastic general-equilibrium setup with a continuum of regions. Thus, it is a full...
Persistent link: https://www.econbiz.de/10011084727
Cover Image
Why Europe has become environmentally cleaner: Decomposing the roles of fiscal, trade and environmental policies
López, Ramón; Palacios, Amparo - C.E.P.R. Discussion Papers - 2011
This paper systematically examines the role of fiscal policy, trade and energy taxes on environmental quality in Europe using disaggregated data for 12 European countries over the 1995-2008 period. It uses a methodology that obtains estimates mostly free of time-varying omitted variable biases....
Persistent link: https://www.econbiz.de/10009278172
Cover Image
Why Do Many Resource-Rich Countries Have Negative Genuine Saving? Anticipation of Better Times or Rapacious Rent Seeking
van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 2008
We investigate the Hartwick rule for saving of a nation necessary to sustain a constant level of private consumption for a small open economy with an exhaustible stock of natural resources. The amount by which a country saves and invests less than the marginal resource rents equals the expected...
Persistent link: https://www.econbiz.de/10005662316