haku: @author Harjoto, M.A. / yhteensä: 3
viite: 2 / 3
| Tekijä: | Harjoto, M.A. Jo, H. |
| Otsikko: | Corporate governance and CSR nexus |
| Lehti: | Journal of Business Ethics
2011 : APR II, VOL. 100:1, p. 45-67 |
| Asiasana: | board of directors corporate governance executives management corporate responsibility social responsibility |
| Vapaa asiasana: | CSR |
| Kieli: | eng |
| Tiivistelmä: | There are several arguments on the purpose of corporate social responsibility (CSR) activities related with CEOs and management. This study finds that firms use governance mechanisms along with CSR engagement to reduce conflicts of interest btw. managers and non-investing stakeholders. Based on an extensive sample of firms within Russell 2000, S&500 and Domini 400 indices from 1993 to 2004, it is found that consistent with the conflict-resolution hypothesis, the CSR choice is positively associated with governance characteristics, incl. board independence, institutional ownership, and analyst following. Furthermore, it is shown that CSR engagement has a positive influence on operating performance and firm value, supporting the conflict-resolution hypothesis as opposed to the over-investment and strategic-choice arguments. |
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