Why don't all firms do 'good' equally?

Banerjee, Shantanu and Homroy, Swarnodeep and Slechten, Aurelie Cecile Dominique (2016) Why don't all firms do 'good' equally? Working Paper. Lancaster University, Department of Economics, Lancaster.

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This paper shows that di¤erence in equity holding structure leads to heterogeneous firm preference for investing in social capital (CSR). In our theoretical model managerial and customer preferences jointly influence CSR investments. We show that if managerial preference is high, social investments of firms are higher, independent of customer preference. We test our theoretical predications using data from Indian firms. We show that firms with concentrated shareholding invest more in CSR. Firms with dispersed shareholding increase social investments if they export to the United States and the European Union, but they decrease these expenses in reaction to antidumping penalties.

Item Type: Monograph (Working Paper)
Departments: Lancaster University Management School > Accounting & Finance
Lancaster University Management School > Economics
ID Code: 79558
Deposited By: ep_importer_pure
Deposited On: 16 May 2016 12:14
Refereed?: No
Published?: Published
Last Modified: 25 Feb 2020 00:27
URI: https://eprints.lancs.ac.uk/id/eprint/79558

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