References
- Aktas, N., E. de Bodt, and J. G. Cousin. 2011. “Do Financial Markets Care about SRI? Evidence from Mergers and Acquisitions.” Journal of Banking and Finance 35 (7): 1753–1761. doi:https://doi.org/10.1016/j.jbankfin.2010.12.006.
- Bénabou, R., and J. Tirole. 2010. “Individual and Corporate Social Responsibility.” Economica 77 (305): 1–19. doi:https://doi.org/10.1111/j.1468-0335.2009.00843.x.
- Bereskin, F., S. K. Byun, M. S. Officer, and J. Oh. 2018. “The Effect of Cultural Similarity on Mergers and Acquisitions: Evidence from Corporate Social Responsibility.” Journal of Financial and Quantitative Analysis 53 (5): 1995–2039. doi:https://doi.org/10.1017/S0022109018000716.
- Cao, J., H. Liang, and X. Zhan. 2018. “Peer Effects of Corporate Social Responsibility.” Management Science forthcoming. doi:https://doi.org/10.1287/mnsc.2018.3100
- Cheng, I., H. Hong, and K. Shue. 2013. “Do Managers Do Good with Other People’s Money?” NBER Working Paper No. 18476. 1–49.
- Dai, R., H. Liang, and L. Ng. 2019. “Socially Responsible Corporate Customers.” Journal of Financial Economics forthcoming
- Deng, X., J. K. Kang, and B. S. Low. 2013. “Corporate Social Responsibility and Stakeholder Value Maximization: Evidence from Mergers.” Journal of Financial Economics 110 (1): 87–109. doi:https://doi.org/10.1016/j.jfineco.2013.04.014.
- Edmans, A. 2011. “Does the Stock Market Fully Value Intangibles? Employee Satisfaction and Equity Prices.” Journal of Financial Economics 101 (3): 621–640. doi:https://doi.org/10.1016/j.jfineco.2011.03.021.
- Edmans, A., X. Gabaix, and A. Landier. 2009. “A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium.” Review of Financial Studies 22: 4881–4917. doi:https://doi.org/10.1093/rfs/hhn117.
- El Ghoul, S., O. Guedhami, C. Kwok, and D. Mishra. 2011. “Does Corporate Social Responsibility Affect the Cost of Capital?” Journal of Banking and Finance 35 (9): 2388–2406. doi:https://doi.org/10.1016/j.jbankfin.2011.02.007.
- Ferrell, A., H. Liang, and L. Renneboog. 2016. “Socially Responsible Firms.” Journal of Financial Economics 122 (3): 585–606. doi:https://doi.org/10.1016/j.jfineco.2015.12.003.
- Fisher-Vanden, K., and K. S. Thorburn. 2011. “Voluntary Corporate Environmental Initiatives and Shareholder Wealth.” Journal of Environmental Economics and Management 62 (3): 430–445. doi:https://doi.org/10.1016/j.jeem.2011.04.003.
- Flammer, C. 2015. “Does Corporate Social Responsibility Lead to Superior Financial Performance? A Regression Discontinuity Approach.” Management Science 61 (11): 2549–2568. doi:https://doi.org/10.1287/mnsc.2014.2038.
- Friedman, M. 1970. “The Social Responsibility of Business Is to Increase Its Profits: 122-126.” New York Times Magazine.
- Gompers, P., J. Ishii, and A. Metrick. 2003. “Corporate Governance and Equity Prices.” Quarterly Journal of Economics 118: 107–155. doi:https://doi.org/10.1162/00335530360535162.
- Jensen, M., and W. Meckling. 1976. “Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure.” Journal of Financial Economics 3 (4): 305–360. doi:https://doi.org/10.1016/0304-405X(76)90026-X.
- Jiao, Y. 2010. “Stakeholder Welfare and Firm Value.” Journal of Banking and Finance 34 (10): 2549–2561. doi:https://doi.org/10.1016/j.jbankfin.2010.04.013.
- Krüger, P. 2015. “Corporate Goodness and Shareholder Wealth.” Journal of Financial Economics 115 (2): 304–329. doi:https://doi.org/10.1016/j.jfineco.2014.09.008.
- Liang, H., and L. Renneboog. 2017a. “On the Foundations of Corporate Social Responsibility.” Journal of Finance 72 (2): 853–910. doi:https://doi.org/10.1111/jofi.12487.
- Liang, H., and L. Renneboog. 2017b. “Is Corporate Social Responsibility an Agency Problem?” Oxford Review of Economic Policy, 33(2), 278-316. .
- Loughran, T., and J. R. Ritter. 2004. “Why Has IPO Underpricing Changed over Time?” Financial Management 33 (3): 5–37.
- Masulis, R. W., and S. W. Reza. 2015. “Agency Problems of Corporate Philanthropy.” Review of Financial Studies 28 (2): 592–636. doi:https://doi.org/10.1093/rfs/hhu082.
- Moeller, S. B., F. P. Schlingemann, and R. M. Stulz. 2005. “Wealth Destruction on A Massive Scale? A Study of Acquiring-firm Returns in the Recent Merger Wave.” Journal of Finance 60 (2): 757–782. doi:https://doi.org/10.1111/j.1540-6261.2005.00745.x.
- Mulherin, J., and A. Boone. 2000. “Comparing Acquisitions and Divestitures.” Journal of Corporate Finance 6 (2): 117–139. doi:https://doi.org/10.1016/S0929-1199(00)00010-9.
- Statman, M., and D. Glushkov. 2009. “The Wages of Social Responsibility.” Financial Analysts Journal 65 (4): 774–800. doi:https://doi.org/10.2469/faj.v65.n4.5.
- Surroca, J., and J. A. Tribo. 2008. “Managerial Entrenchment and Corporate Social Performance.” Journal of Business Finance and Accounting 35 (5–6): 748–789. doi:https://doi.org/10.1111/j.1468-5957.2008.02090.x.
- Walley, N., and B. Whitehead. 1994. “It’s Not Easy Being Green.” Harvard Business Review 72 (3): 46–52.
- Wang, C., and F. Xie. 2009. “Corporate Governance Transfer and Synergistic Gains from Mergers and Acquisitions.” Review of Financial Studies 22 (2): 829–858. doi:https://doi.org/10.1093/rfs/hhn018.