How do socially controversial companies do during a stressful time? Evidence from the Great Recession
Author
Abstract
Suggested Citation
DOI: 10.1016/j.najef.2018.12.010
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Joseph G. Altonji & Todd E. Elder & Christopher R. Taber, 2005.
"Selection on Observed and Unobserved Variables: Assessing the Effectiveness of Catholic Schools,"
Journal of Political Economy, University of Chicago Press, vol. 113(1), pages 151-184, February.
- Joseph G. Altonji & Todd E. Elder & Christopher R. Taber, 2000. "Selection on Observed and Unobserved Variables: Assessing the Effectiveness of Catholic Schools," NBER Working Papers 7831, National Bureau of Economic Research, Inc.
- Withisuphakorn Pradit & Jiraporn Pornsit, 2018. "Are Busy Directors Harmful or Helpful? Evidence from the Great Recession," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 18(2), pages 1-11, April.
- Chintrakarn, Pandej & Jiraporn, Pornsit & Tong, Shenghui & Chatjuthamard, Pattanaporn, 2015. "Estimating the effect of entrenched boards on firm value using geographic identification," Finance Research Letters, Elsevier, vol. 12(C), pages 109-116.
- Pornsit Jiraporn & Napatsorn Jiraporn & Adisak Boeprasert & Kiyoung Chang, 2014. "Does Corporate Social Responsibility (CSR) Improve Credit Ratings? Evidence from Geographic Identification," Financial Management, Financial Management Association International, vol. 43(3), pages 505-531, September.
- Fauver, Larry & McDonald, Michael B., 2014. "International variation in sin stocks and its effects on equity valuation," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 173-187.
- Servaes, Henri & Amiraslani, Hami & Lins, Karl & Tamayo, Ane, 2017. "A Matter of Trust? The Bond Market Benefits of Corporate Social Capital during the Financial Crisis," CEPR Discussion Papers 12321, C.E.P.R. Discussion Papers.
- Karl V. Lins & Henri Servaes & Ane Tamayo, 2017.
"Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis,"
Journal of Finance, American Finance Association, vol. 72(4), pages 1785-1824, August.
- Lins, Karl V. & Servaes, Henri & Tamayo, Ane, 2017. "Social capital, trust, and firm performance: the value of corporate social responsibility during the financial crisis," LSE Research Online Documents on Economics 68059, London School of Economics and Political Science, LSE Library.
- Hong, Harrison & Kacperczyk, Marcin, 2009. "The price of sin: The effects of social norms on markets," Journal of Financial Economics, Elsevier, vol. 93(1), pages 15-36, July.
- Peters, Ryan H. & Taylor, Lucian A., 2017. "Intangible capital and the investment-q relation," Journal of Financial Economics, Elsevier, vol. 123(2), pages 251-272.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Gillan, Stuart L. & Koch, Andrew & Starks, Laura T., 2021. "Firms and social responsibility: A review of ESG and CSR research in corporate finance," Journal of Corporate Finance, Elsevier, vol. 66(C).
- Chintrakarn, Pandej & Jiraporn, Pornsit & Treepongkaruna, Sirimon, 2021. "How do independent directors view corporate social responsibility (CSR) during a stressful time? Evidence from the financial crisis," International Review of Economics & Finance, Elsevier, vol. 71(C), pages 143-160.
- Gu, Leilei & Liu, Zhongyang & Xu, Danyang, 2023. "The risk-mitigating role of corporate social responsibility in Chinese listed heavy-polluting companies: An extreme event experience perspective," Energy Economics, Elsevier, vol. 125(C).
- Wong, Jin Boon & Zhang, Qin, 2022. "Stock market reactions to adverse ESG disclosure via media channels," The British Accounting Review, Elsevier, vol. 54(1).
- Shih, Yi-Cheng & Wang, Yao & Zhong, Rui & Ma, Yi-Ming, 2021. "Corporate environmental responsibility and default risk: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
- Alice Monti & Pierpaolo Pattitoni & Barbara Petracci & Otto Randl, 2022. "Does corporate social responsibility impact equity risk? International evidence," Review of Quantitative Finance and Accounting, Springer, vol. 59(3), pages 825-855, October.
- Federica Ielasi & Paolo Ceccherini & Pietro Zito, 2020. "Integrating ESG Analysis into Smart Beta Strategies," Sustainability, MDPI, vol. 12(22), pages 1-22, November.
- Jiang, Zhiqian & Xu, Yue & Fang, Mei & Tang, Ziling & Tao, Chunhua, 2023. "How does the bond market price corporate ESG engagement? Evidence from China," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 1406-1423.
- Suwongrat Papangkorn & Pattanaporn Chatjuthamard & Pornsit Jiraporn & Sirisak Chueykamhang, 2021. "Female directors and firm performance: Evidence from the Great Recession," International Review of Finance, International Review of Finance Ltd., vol. 21(2), pages 598-610, June.
- Nattarinee Denlertchaikul & Pattanaporn Chatjuthamard & Pornsit Jiraporn & Piyachart Phiromswad, 2022. "The Interaction Effect of Text-Based Corporate Innovation and Economic Policy Uncertainty on Firm Performance," SAGE Open, , vol. 12(4), pages 21582440221, November.
- Bui, Dien Giau & Chen, Yan-Shing & Hasan, Iftekhar & Lin, Chih-Yung, 2018. "Can lenders discern managerial ability from luck? Evidence from bank loan contracts," Journal of Banking & Finance, Elsevier, vol. 87(C), pages 187-201.
- Anutchanat Jaroenjitrkam & Sirimon Treepongkaruna & Pornsit Jiraporn, 2022. "Does shareholder litigation risk promote or hinder corporate social responsibility? A quasi‐natural experiment," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(3), pages 657-674, May.
- Cao, Zhangfan & Rees, William, 2020. "Do employee-friendly firms invest more efficiently? Evidence from labor investment efficiency," Journal of Corporate Finance, Elsevier, vol. 65(C).
- Abdelmajid Hmaittane & Kais Bouslah & Bouchra M’Zali & Imane Ibariouen, 2022. "Corporate Sustainability and Cost of Equity Capital: Do Managerial Abilities Matter?," Sustainability, MDPI, vol. 14(18), pages 1-17, September.
- Leon Zolotoy & Don O’Sullivan & Keke Song, 2021. "The Role of Ethical Standards in the Relationship Between Religious Social Norms and M&A Announcement Returns," Journal of Business Ethics, Springer, vol. 170(4), pages 721-742, May.
- Ferriani, Fabrizio, 2023.
"Issuing bonds during the Covid-19 pandemic: Was there an ESG premium?,"
International Review of Financial Analysis, Elsevier, vol. 88(C).
- Fabrizio Ferriani, 2022. "Issuing bonds during the Covid-19 pandemic: is there an ESG premium?," Temi di discussione (Economic working papers) 1392, Bank of Italy, Economic Research and International Relations Area.
- Torsten Ehlers & Ulrike Elsenhuber & Kumar Jegarasasingam & Eric Jondeau, 2022.
"Deconstructing ESG Scores: How to Invest with Your own Criteria,"
Swiss Finance Institute Research Paper Series
22-23, Swiss Finance Institute.
- Torsten Ehlers & Ulrike Elsenhuber & Anandakumar Jegarasasingam & Eric Jondeau, 2022. "Deconstructing ESG scores: how to invest with your own criteria," BIS Working Papers 1008, Bank for International Settlements.
- Shackleton, Mark & Yan, Jiali & Yao, Yaqiong, 2022. "What drives a firm's ES performance? Evidence from stock returns," Journal of Banking & Finance, Elsevier, vol. 136(C).
- Cerqueti, Roy & Ciciretti, Rocco & Dalò, Ambrogio & Nicolosi, Marco, 2021.
"ESG investing: A chance to reduce systemic risk,"
Journal of Financial Stability, Elsevier, vol. 54(C).
- Roy Cerqueti & Rocco Ciciretti & Ambrogio Dalò & Marco Nicolosi, 2020. "ESG Investing: A Chance To Reduce Systemic Risk," CEIS Research Paper 498, Tor Vergata University, CEIS, revised 04 Aug 2020.
- Roy Cerqueti & R. Ciciretti & A. Dalo & M. Nicolosi, 2021. "ESG Investing: A Chance To Reduce Systemic Risk," Post-Print hal-03789135, HAL.
- Chindasombatcharoen, Pongsapak & Chatjuthamard, Pattanaporn & Jiraporn, Pornsit & Treepongkaruna, Sirimon, 2023. "Director age and corporate innovation: Evidence from textual analysis," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).
More about this item
Keywords
Sin stocks; Controversial stocks; Financial crisis; Great Recession;All these keywords.
JEL classification:
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecofin:v:54:y:2020:i:c:s1062940818303838. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620163 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.