Showing 1 - 10 of 23
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
We study the extent to which a firm’s social capital, as measured by the intensity of a firm’s corporate social responsibility (CSR) activities, affects firm performance during the 2008-2009 financial crisis. We find that high-CSR firms have crisis-period stock returns that are four to five...
Persistent link: https://www.econbiz.de/10011165644
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
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
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
-specific skills. But the threat of poaching means that it is the individual ‘stakeholder’, not the firm, who must bear the cost. We …
Persistent link: https://www.econbiz.de/10005504300
Detailed notes on weekly meetings of the sugar-refining cartel show how communication helps firms collude, and so …
Persistent link: https://www.econbiz.de/10005504565
, using rules and task guidelines, and ex post coordination, using communication and broad job assignments. It shows that: (i … communication and substantial employee discretion. (iii) Broad task assignments and intensive horizontal communication are … complementary. Hence, lower communication costs often result in less specialization. …
Persistent link: https://www.econbiz.de/10005497860
communication flows serve as important channels of diffusion. The analysis is based on examining the productivity effects of R …
Persistent link: https://www.econbiz.de/10005497902
in quantity and quality of output. We use data from a controlled field experiment that changed the communication of the …
Persistent link: https://www.econbiz.de/10011084038