Stakeholder Preference and Strategic Corporate Social Responsibility

Banerjee, Shantanu and Homroy, Swarnodeep and Slechten, Aurelie (2022) Stakeholder Preference and Strategic Corporate Social Responsibility. Journal of Corporate Finance. ISSN 0929-1199 (In Press)

Full text not available from this repository.

Abstract

This paper investigates the role of stakeholder preference on corporate social responsibility (CSR) strategies. Using a staggered difference-in-difference approach, we show that Indian firms increase CSR expenses when trade restrictions (Antidumping) are initiated against competing Chinese exports from countries with a high stakeholder preference for CSR. However, when these shocks emanate from countries with a lower stakeholder preference, CSR expenses re-main unchanged. Capital expenditure and R&D of Indian firms increase following AD shocks, irrespective of their country of origin. Finally, CSR increases firm value only when the demand shocks originate from countries with a higher CSR preference. Collectively, we provide evidence for consumer-driven CSR strategies.

Item Type:
Journal Article
Journal or Publication Title:
Journal of Corporate Finance
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/1400/1408
Subjects:
ID Code:
176628
Deposited By:
Deposited On:
29 Sep 2022 13:30
Refereed?:
Yes
Published?:
In Press
Last Modified:
22 Nov 2022 11:53