Beyond shareholder value? Why firms voluntarily disclose support for Black Lives Matter

• Main Authors: CHEN, A. J., DECHOW, Patricia M., TAN, Samuel T.
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2021
• 主題: Black Lives Matter; Voluntary Disclosure; Corporate Culture; Social Responsibility; Accounting; Business Law, Public Responsibility, and Ethics
• 在線閱讀: https://ink.library.smu.edu.sg/soa_research/1952; https://ink.library.smu.edu.sg/context/soa_research/article/2979/viewcontent/SSRN_id3921985.pdf

We investigate why firms voluntarily disclose support for the Black Lives Matter movement (BLM firms) even though these disclosures have little impact on shareholder value. We examine two competing explanations: that managers are acting in the interests of a broad set of stakeholders, or that they a...