Working Paper

10 December 2017

The relationship between public listing, context, multi-nationality and internal CSR

Are MNEs more socially responsible, and where is this more likely to occur? Are rms less responsible in emerging or transitional economies, and what impact does the dominant national corporate governance regime have? We explore the...

Chris Brewster | Salim Chahine | Marc Goergen | Geoffrey Wood
11 September 2017

Trust, Social Capital, and the Bond Market Benefits of ESG Performance

We investigate whether a firm’s social capital, and the trust that it engenders, are viewed favorably by bondholders. Using firms’ environmental and social (E&S) performance to proxy for social capital, we find no...Read more

Hami Amiraslani | Karl Lins | Henri Servaes | Ane Tamayo
02 June 2017

Shareholder Engagement on Environmental, Social, and Governance Performance

We study investor activism promoting environmental, social and governance (ESG) improvements using a proprietary dataset. Targets have a higher market share, analyst coverage, stock returns, and liquidity. The engagements lead to...

Tamas Barko | Martijn Cremers | Luc Renneboog
01 February 2015

Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis

We study the extent to which a firm's social capital, as measured by the intensity of a firm's corporate social responsibility (CSR) activities, affects firm performance during the 2008-2009 financial crisis. We find that high-CSR...

Karl Lins | Henri Servaes | Ane Tamayo