Peer Effects of Corporate Social Responsibility
作者： Jie Cao , Hao Liang , Xintong Zhan
DOI: 10.2139/SSRN.2634100
关键词: Accounting 、 Corporate social responsibility 、 Alliance 、 Regression discontinuity design 、 Product market 、 Stock (geology) 、 Voting 、 Shareholder 、 Public relations 、 Business 、 General partnership
摘要: We investigate how firms react to their peers’ commitment corporate social responsibility (CSR), using a regression discontinuity design that relies on the passing or failing of CSR proposals by small margin votes during shareholder meetings. find passage close-call proposal is followed adoption similar practices peer firms, especially those with products and more financial analysts. Stock returns around voting dates are lower for peers higher constraints in competing relationship, but an alliance partnership firm.
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