The geography of CSR

The geography of CSR

We regress socio-economic indicators against firm level CSR scores using a sample of over 26,000 firm year observations from 1991 through 2009. We find that a firm's CSR profile is linked to the socio-economic conditions of the firm's geographic headquarters (HQ) location. The study docume...

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Bibliographic Details
Main Authors: DING, David K., FERREIRA, Christo, WONGCHOTI, Udomsak
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2019
Subjects:
CSR
Geography
Corporate governance
Firm location
Tobin's Q
Business Law, Public Responsibility, and Ethics
Finance and Financial Management
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/5996
https://ink.library.smu.edu.sg/context/lkcsb_research/article/6995/viewcontent/1_s20_S1059056018307950_main.pdf
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Institution: Singapore Management University
Language: English
Description
Summary:We regress socio-economic indicators against firm level CSR scores using a sample of over 26,000 firm year observations from 1991 through 2009. We find that a firm's CSR profile is linked to the socio-economic conditions of the firm's geographic headquarters (HQ) location. The study documents that the legal, cultural, economic, and demographic differences across geography significantly explain the variation in CSR means between metropolitan statistical areas, states, and regions. We also find that the relation between CSR and firm performance is conditional on socio-economic factors, which highlight the endogeneity concerns inherent in CSR studies. Lastly, we show that firms that cluster along a CSR continuum experience an increase in firm value.

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