search query: @indexterm companies / total: 5608
reference: 10 / 5608
| Author: | Coleman, L. |
| Title: | Losses from failure of stakeholder sensitive processes: financial consequences for large US companies from breakdowns in product, environmental, and accounting standards |
| Journal: | Journal of Business Ethics
2011 : JAN II, VOL. 98:2, p. 247-258 |
| Index terms: | USA companies stakeholders ethics corporate finance behavioural science environment products standards accounting standards |
| Language: | eng |
| Abstract: | In order to examine an old research question of 'Do firms hurt their financial performance by damaging stakeholder interests', this study utilizes the databases of U.S. government on-line listings of fines for environmental breaches, unsafe workplaces, fraudulent accounting standards, and product recalls. Using a sample of all non-financial S&P 500 firms during the most recent full-cycle of 1998-2003, sales margins of firms fell by 0.8 per cent if they announced a product recall and by 0.4 per cent if cited by OSHA for an unsafe workplace, and shareholder return was significantly reduced by an EPA or SEC prosecution etc. |
SCIMA