授权
业务
政府(语言学)
人事变更率
企业社会责任
价值(数学)
库存(枪支)
会计
公共经济学
公共关系
货币经济学
经济
政治学
管理
法学
计算机科学
语言学
哲学
工程类
机器学习
机械工程
作者
Shivaram Rajgopal,Prasanna L. Tantri
标识
DOI:10.1111/1475-679x.12461
摘要
ABSTRACT This study investigates the implementation of a Government of India mandate that requires firms to spend at least 2% of their profits on corporate social responsibility (CSR). The results show that qualifying firms that voluntarily engaged in CSR before the mandate reduce their CSR spending afterward. Despite increasing advertisement expenditure likely to offset the lost signaling value of voluntary CSR, stock prices and operating performance of former voluntary CSR spenders who qualify under the law decline. Our results suggest that regulatory intervention in CSR can both diminish its signaling value and lead to a reduction in voluntary CSR spending.
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