000			02188naa a2200205uu 4500
001			0042611065337
003			OSt
005			20190211171156.0
008			100426s2009 xx ||||gr |0|| 0 eng d
100	1		_aGODFREY, Paul C. _939638
245	1	0	_aThe relationship between corporate social responsability and shareholder value : _ban empirical test of the risk management hypothesis
260			_aBognor Regis : _bWiley-Blackwell, _cApril 2009
520	3		_aDo shareholders gain when managers disperse corporate resources through activities classified as corporate social responsibility (CSR)? Strategy scholars have recently developed a theoretical model that links such activities to shareholder value when a firm suffers a negative event; we test key portions of this theory of the insurance-like property of CSR activity. We posit that such activity leads to positive attributions from stakeholders, who then temper their negative judgments and sanctions toward firms because of this goodwill. We extend the risk management model by theorizing that some types of CSR activities will be more likely to create goodwill and offer insurance-like protection than other types. We delineate several firm and event specific characteristics that we expect to influence the link between CSR activities and an insurance effect. We then test our model using an event study of 178 negative legal/regulatory actions against firms throughout the 11 years from 1993-2003. We find that participation in institutional CSR activities - those aimed at a firm's secondary stakeholders or society at large - provides an insurance-like benefit, while participation in technical CSRs - those activities targeting a firm's trading partners - yields no such benefits. We conclude by considering the implications of our findings for future theorizing and research into the economic value of CSR engagement.
700	1		_aMERRILL, Craig B. _939639
700	1		_aHANSEN, Jared M. _939640
773	0	8	_tStrategic Management Journal _g30, 4, p. 425-445 _dBognor Regis : Wiley-Blackwell, April 2009 _xISSN 01432095 _w
942			_cS
998			_a20100426 _b1106^b _cDaiane
998			_a20100428 _b1657^b _cCarolina
999			_aConvertido do Formato PHL _bPHL2MARC21 1.1 _c32567 _d32567
041			_aeng