Corporate Social Responsibility and Sustainability

Dear Colleagues,

Corporate social responsibility (CSR) has continued to be a highly popular, but contentious, subject over the previous thirty-year history in academic research. Corporations across the globe have become more alert on CSR issues since CSR can be considered as important non-financial information. Until now, finance, in general, traditionally emphasized the shareholder wealth maximization view. Recently, however, accounting and financial economists are beginning to be aware of the importance of various stakeholders’ demands and are examining diverse aspects of CSR in accounting and finance.

In this regard, this Special Issue is soliciting papers related to, but not limited to, the following topics from the angle of any specific country or across countries;

-The role of corporate governance in CSR
-The impact of investment and financing on CSR and vice versa
-Insider trading and CSR
-CEO characteristics, CEO leadership, and CSR
-CSR and dividend policy
-CSR and information asymmetry
-The impact of institutional ownership on CSR and vice versa.
-CSR and analyst coverage and its impact on firm risk
-CSR and firm risk across countries
-CSR and firm value and/or financial performance across countries
-CSR, finance, and religion.
-CSR and disclosure
-CSR and earnings management
-CSR and mergers and acquisitions
-CSR and managerial compensation
-CSR and liquidity
-CSR and product market competition
-CSR and political connection

Prof. Dr. Hoje Jo
Guest Editor

References

Bae, K., Kang, J., And  Wang, J. 2011. Employee treatment and firm leverage: A test of stakeholder theory of capital structure. Journal of Financial Economics 100, 130-153.
Deng, X., Kang, J., and Low, B. 2012. Corporate social responsibility and stakeholder value maximization: Evidence from mergers. Journal of Financial Economics (forthcoming).
Dhaliwal, D., Oliver, L., Tsang, A. and Yang, Y. 2011. Voluntary nonfinancial disclosure and the cost of equity capital: The initiation of corporate social responsibility reporting. Accounting Review, 86(1), 59-100.
Dhaliwal, D., Radhakrishnan, S., Tsang, A. and Yang, Y. 2012.  Nonfinancial disclosure and analyst forecast accuracy: International evidence on corporate social responsibility (CSR) disclosure. Accounting Review, 87(3), 723-759
Harjoto, M. and Jo, H. 2011. Corporate Governance and CSR Nexus. Journal of Business Ethics, 100 (1), 45-67.
Ioannous, I., and Serafeim, G. 2012. What drives corporate social performance? The role of national-level institutions, Journal of International Business Studies, 43, 1-31.
Jo, H. and Harjoto, M. 2011. Corporate governance and firm value: The impact of corporate social responsibility. Journal of Business Ethics, 103(3), 351-383.
Jo, H. and Harjoto, M. 2012. The causal effect of corporate governance on corporate social responsibility. Journal of Business Ethics, 106(1), 53-72.
Margolis, J. and Walsh, J. 2003. Misery loves companies: rethinking social initiatives by business. Administrative Science Quarterly, 48, 268-305.
McWilliams, A., and D. Siegel, 2001, Corporate social responsibility and firm financial performance: correlation or misspecification? Strategic Management Journal 21, 603-609.
Orlitzky, M.,. Schmidt, F., & Rynes, S. (2003). Corporate social and financial performance: A meta analysis. Organizational Studies, 24, 403–441.

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