The paper addresses the link between the social component of corporate social responsibility and market value of equities. Preceding results on this topic are, to our knowledge, still scarce and not really conclusive. Using a both rich and worldwide dataset, Asset4 – Thomson Reuters, we find...

Do socially responsible firms benefit from ethical goodwill? On the one hand, taking externalities into account can be a competitive disadvantage. On the other hand, financial benefits may result from ethical behavior. Thanks to a worldwide dataset of ESG ratings (MSCI ESG ratings), we examine...

In this paper, I study identification of a nonseparable model with endogeneity arising due to unobserved heterogeneity. Identification relies on the availability of binary proxies that can be used to control for the unobserved heterogeneity. I show that the model is identified in the limit as...

(VF)À partir d'un échantillon de 56 changements de dirigeant au sein d'entreprises françaises cotées entre 2000 et 2005, la nature et les facteurs explicatifs des choix comptables effectués par le dirigeant sortant sont analysés. L'étude des accruals discrétionnaires montre que les...