Investor Tastes, Corporate Behavior, and Stock Returns : An Analysis of Corporate Social Responsibility | PERPUSTAKAAN UNIVERSITAS KATOLIK PARAHYANGAN

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Investor Tastes, Corporate Behavior, and Stock Returns : An Analysis of Corporate Social Responsibility

Hwang, Chuan Yang - Nama Orang; Titman, Sheridan - Nama Orang; Wang, Ying - Nama Orang;

We classify institutions into socially responsible investors (SRI) and not socially responsible investors using the value weighted corporate social responsibility (CSR) scores of their portfolio holdings. We find that firms that exhibit increases in SRI ownership tend to increase future CSR scores. Our analysis of stock price responses to the revelation of SRI ownership changes indicates that the revelation of higher SRI ownership is associated with negative stock returns. These effects are particularly strong when we focus on SRI-activists, who tend to target firms with low CSR scores and lobby to increase them over time. These observations are consistent with the hypothesis that anticipated increases in CSR activities reduce firm values.

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Barcode		Tipe Koleksi	Nomor Panggil	Lokasi	Status
art144187	null	Artikel		Gdg9-Lt3	Tersedia namun tidak untuk dipinjamkan - No Loan

Informasi Detail

Judul Seri: MANAGEMENT SCIENCE; Vol.68 No.10 October 2022
No. Panggil: -
Penerbit: : .,
Deskripsi Fisik: p. 7131-7152
Bahasa: English
ISBN/ISSN: -
Klasifikasi: NONE
Tipe Isi: -
Tipe Media: -
Tipe Pembawa: -
Edisi: -
Subjek: CORPORATE SOCIAL RESPONSIBILITY
INSTITUTIONAL OWNERSHIP
SHAREHPLDERS ACTIVISM
Info Detail Spesifik: https://doi.org/10.1287/mnsc.2021.4179
Pernyataan Tanggungjawab: Chuan Yang Hwang, Sheridan Titman, Ying Wang

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