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http://hdl.handle.net/10553/119072
Title: | Media visibility and corporate social responsibility investment evidence in Spain | Authors: | Bona Sánchez, Carolina Pérez Alemán, Jerónimo Santana Martín, Domingo Javier |
UNESCO Clasification: | 5311 Organización y dirección de empresas | Keywords: | Corporate Social Responsibility Media Coverage Voting-Cash Flow Wedge |
Issue Date: | 2022 | Journal: | Business ethics, the environment & responsibility | Abstract: | Despite the extensive research in both the determinants and the results of corporate social responsibility (CSR), relatively few studies have considered extra-legal institutions as potential determinants of CSR. Our work fills this gap by looking at how media attention affects CSR over a long-term period in a continental European setting. Our results show that media coverage positively affects CSR. Additional scrutiny triggered by media coverage encourages dominant owners to signal their commitment to limiting self-dealing transactions and their orientation toward stakeholders' needs through CSR investments. Additionally, our results reveal that this signaling device offers greater benefits and lower costs in firms where controlling owners show a voting-cash flow wedge. Our results are relevant to different actors such as investors, auditors, and policy makers as they provide solid evidence that media coverage is an important driver of CSR orientation in a continental European setting. | URI: | http://hdl.handle.net/10553/119072 | ISSN: | 2694-6416 | DOI: | 10.1111/beer.12488 | Source: | Business Ethics, Environment and Responsibility[ISSN 2694-6416], (Enero 2022) |
Appears in Collections: | Artículos |
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