| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28159 |
| 来源ID | Working Paper 28159 |
| Corporate Social Responsibility and Imperfect Regulatory Oversight: Theory and Evidence from Greenhouse Gas Emissions Disclosures | |
| Jean-Etienne de Bettignies; Hua Fang Liu; David T. Robinson | |
| 发表日期 | 2020-12-07 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper develops and tests a model in which 1) purpose-driven firms emerge as an optimal organizational form even for profit-maximizing entrepreneurs; and 2) CSR arises endogenously as a response to imperfect regulatory oversight. Purpose-driven organizations allow entrepreneurs to create rents for socially responsible (e.g. environmentally concerned) workers by allowing them to reduce the negative externalities (e.g. pollution) that would be generated without them, and to extract these rents through lower wages. Through this rent extraction entrepreneurs internalize the pro-social preferences of their responsible workers, and in turn engage in CSR through self-regulation, provided that regulatory oversight is poor enough - and hence regulation is loose enough - to make self-regulation worthwhile. The key prediction of the model is a negative impact of regulatory oversight on CSR activity. To test this, we exploit the UK's 2012 decision to mandate greenhouse gas emissions disclosure in all public firms. Consistent with our theory, we find that firms in the UK receive lower CSR ratings after increased regulatory oversight compared to firms from the other 15 European countries which did not experience mandatory disclosure requirements. We also perform a number of robustness checks and explore the interaction between oversight, wages and CSR. These empirical findings provide further support for the model. |
| 主题 | Microeconomics ; Welfare and Collective Choice ; Labor Economics ; Labor Compensation ; Other ; Accounting, Marketing, and Personnel ; Environmental and Resource Economics ; Environment |
| URL | https://www.nber.org/papers/w28159 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585833 |
| 推荐引用方式 GB/T 7714 | Jean-Etienne de Bettignies,Hua Fang Liu,David T. Robinson. Corporate Social Responsibility and Imperfect Regulatory Oversight: Theory and Evidence from Greenhouse Gas Emissions Disclosures. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w28159.pdf（634KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
