Institutional shareholders and corporate social responsibility

• Main Authors: Chen, Tao, Dong, Hui, Lin, Chen
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2021
• Subjects: Business::General; Institutional Ownership; Indexing
• Online Access: https://hdl.handle.net/10356/150417
• Institution: Nanyang Technological University

This study uses two distinct quasi-natural experiments to examine the effect of institutional shareholders on corporate social responsibility (CSR). We first find that an exogenous increase in institutional holding caused by Russell Index reconstitutions improves portfolio firms’ CSR performance. We...