Is corporate social responsibility an agency problem?

• المؤلفون الرئيسيون: LIANG, Hao, RENNEBOOG, Luc
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2018
• الموضوعات: Corporate Social Responsibility; CEO turnover; Corporate Governance; Business Law, Public Responsibility, and Ethics; Corporate Finance
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/6532; https://ink.library.smu.edu.sg/context/lkcsb_research/article/7531/viewcontent/_9781786432629___Research_Handbook_of_Finance_and_Sustainability__Is_corporate_social_responsibility_an_agency_problem_.pdf
• المؤسسة: Singapore Management University

This chapter examines whether CSR investments occur mostly in firms with severe agency problems, which suggests that CSR is an agency issue. We demonstrate that this is not the case: CSR investments and performance are higher when dividends are high, leverage is high, cash flows and cash holdings ar...