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  1. Corporate Social Responsibility Disclosures and Investor Judgments in Difficult Times: The Role of Ethical Culture and Assurance.Andrew C. Stuart, Jean C. Bedard & Cynthia E. Clark - 2020 - Journal of Business Ethics 171 (3):565-582.
    We conduct an experiment with 459 nonprofessional investors to examine whether they evaluate companies differently based on management’s stated purpose for undertaking corporate social responsibility activities in the presence versus absence of a company-specific negative event. Specifically, we vary whether or not management intends to achieve financial returns from CSR activities in addition to promoting social good. We address investors’ decision processes by investigating whether their judgments are mediated by perceptions of future cash flows and/or the underlying ethical culture of (...)
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  • Twitter Presence and Experience Improve Corporate Social Responsibility Outcomes.Siva K. Balasubramanian, Yiwei Fang & Zihao Yang - 2020 - Journal of Business Ethics 173 (4):737-757.
    We investigate the role of social-media-triggered public pressure on corporate social responsibility that includes expectations of transparency and accountability on the firm’s part, and participative/evaluative inputs on the public’s part. Using the date when S&P 500 firms established corporate Twitter accounts, we investigate the impact of corporate social media exposure on CSR outcomes. Results from baseline regressions indicate that firms with Twitter accounts significantly outperform industry peers in CSR rating, after controlling for firm and industry characteristics. To test potential reverse (...)
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