Stakeholder Strategy IG
Some argue that since shareholders are the only stakeholder who have a claim on a firm’s profits, managers should focus only on maximizing shareholder wealth. Not only will this satisfy…
Read MoreThis paper shows that corporate short-termism is hampering business success. We show clear, causal evidence that imposing long-term incentives on executives—in the form of long-term executive compensation—improves business performance. Long-term…
Read MoreWe ask whether, along with ethical issues, bribing affects the behavior and performance of firms in A frica and L atin A merica. Our statistical analysis shows that bribe payments…
Read MoreWe argue that mines located near environmentally sensitive water sources are subject to nonmarket risks arising from the potential collective actions of local stakeholders and their allies. Stakeholder mobilization can…
Read MoreThis study examines whether product market competition affects corporate social responsibility (CSR). To obtain exogenous variation in product market competition, I exploit a quasi-natural experiment provided by large import tariff…
Read MoreMost managers and the business press regard “value creation” as the increase in shareholder wealth represented by a rise in corporate profit or stock price. A broader conception of value…
Read MoreSeveral studies suggest that political ties help firms survive or perform but do not examine the boundary conditions concerning which types of firms and which type of ties help firms.…
Read MoreWe examine whether and how for-eign environmental standards influence global sourcingdecisions. Taking a question-driven approach, we finda negative association between the stringency of acountry’s environmental standards and its share in…
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