Corporate social irresponsibility and boards: The implications of legal expertise

被引：18

作者：

Dharwadkar, Ravi ^{[1
]}

Guo, Jun ^{[2
]}

Shi, Linna ^{[3
]}

Yang, Rong ^{[4
]}

机构：

[1] Syracuse Univ, Whitman Sch Management, 721 Univ Ave, Syracuse, NY 13244 USA

[2] Rutgers State Univ, Sch Business Camden, 227 Penn St, Camden, NJ 08102 USA

[3] Univ Cincinnati, Carl H Lindner Coll Business, 2925 Campus Green Dr, Cincinnati, OH 45221 USA

[4] Rochester Inst Technol, Saunders Coll Business, 105 Lomb Mem Dr, Rochester, NY 14623 USA

来源：

JOURNAL OF BUSINESS RESEARCH | 2021年 / 125卷

关键词：

Corporate Social Irresponsibility (CSIR); Legal expertise; Board of director; FINANCIAL PERFORMANCE; RESPONSIBILITY CSR; DARK SIDE; DIRECTORS; CONSEQUENCES; ORGANIZATIONS; INFORMATION; GOVERNANCE; REPUTATION; RESOURCES;

D O I：

10.1016/j.jbusres.2020.12.003

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this study, we examine whether Corporate Social Irresponsibility (CSIR) affects the appointment of directors with legal expertise on the board and whether the presence of legal directors has implications for the CSIR-stock return relationship. Using a large sample of publicly traded U.S. firms, we find that firms involved more in CSIR have more directors with legal expertise on the board in subsequent years. Our additional tests suggest that this relationship is not driven by omitted variables or reverse causality. We further find that board legal expertise helps to mitigate the negative stock performance arising from CSIR. Overall, our findings suggest that boards with legal expertise are better able to respond to CSIR and mitigate its damage.

引用

页码：143 / 154

页数：12

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