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| Tekijä: | Barnea, A. Rubin, A. |
| Otsikko: | Corporate social responsibility as a conflict between shareholders |
| Lehti: | Journal of Business Ethics
2010 : NOV II, VOL 97:1, p. 71-86 |
| Asiasana: | corporate responsibility expenditure shareholders company ownership USA |
| Kieli: | eng |
| Tiivistelmä: | The paper examines the shareholder conflict related to the company's corporate social responsibility expenditures. The authors argue that company managers may have a tendency to over-invest in CSR in order to enhance their own reputation as good global citizens. Data from 3000 U.S. firms are studied, and the findings indicate a negative relationship between insider ownership and firm's social rating. Further, institutional ownership does not correlate with social rating. The results seem to support the hypothesis about insiders' over-investments in CSR activities. |
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