4 found
  1. An empirical investigation of the relationship between change in corporate social performance and financial performance: A stakeholder theory perspective. [REVIEW]Bernadette M. Ruf, Krishnamurty Muralidhar, Robert M. Brown, Jay J. Janney & Karen Paul - 2001 - Journal of Business Ethics 32 (2):143 - 156.
    Stakeholder theory provides a framework for investigating the relationship between corporate social performance (CSP) and corporate financial performance. This relationship is investigated by examining how change in CSP is related to change in financial accounting measures. The findings provide some support for a tenet in stakeholder theory which asserts that the dominant stakeholder group, shareholders, financially benefit when management meets the demands of multiple stakeholders. Specifically, change in CSP was positively associated with growth in sales for the current and subsequent (...)
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    Glass Houses? Market Reactions to Firms Joining the UN Global Compact.Jay J. Janney, Greg Dess & Victor Forlani - 2009 - Journal of Business Ethics 90 (3):407-423.
    We examine market reactions to publicly held multinational firms announcing their affiliation with the United Nations Global Compact (UNGC). The UNGC is a voluntary initiative to support four areas of United Nations viz. Human Rights, Labor, Environmental, and Anti-Corruption. Because firms must file annual Communication on Progress (COP) reports toward these initiatives, we argue this creates a differentiating transparency of interest to stakeholders. Using a sample of 175 global firms, we find support to the theory for joining the UNGC. Returns (...)
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    Firm Linkages to Scandals via Directors and Professional Service Firms: Insights from the Backdating Scandal.Jay J. Janney & Steve Gove - 2017 - Journal of Business Ethics 140 (1):65-79.
    We examine market reactions to the stock options backdating scandal in a slightly unusual way, but focusing on firms who were not perceived to have had a backdating concern, but were instead linked to firms who did have a backdating concern. These linkages can be found via board interlocks and the roles those directors perform. In addition we examine the linkages which occur from shared professional services firms, such as auditors and outside legal counsel. That these potential conduits are available (...)
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    Do Executive Departures to Signal the End of a Scandal Create or Reduce Uncertainty? An Examination of Market Reaction in Stock Option Backdating Scandal Events.Steve Gove & Jay J. Janney - 2019 - Business and Society 58 (6):1209-1233.
    This study examines events at the conclusion of the 2006 stock option backdating scandal: the departures of C-level executives from firms implicated in backdating. The authors ask whether removing executives brings closure to the scandal, or if executive turnover creates greater uncertainty. Using a sample of 236 executive departures, the authors find that although overall market reaction to executive departures is negative, those departures involving a firm’s CEO or CFO ameliorate the market reaction. The authors also find that market reaction (...)
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