Firms and social responsibility: A review of ESG and CSR research in corporate finance

被引：790

作者：

Gillan, Stuart L. ^{[1
]}

Koch, Andrew ^{[2
]}

Starks, Laura T. ^{[3
]}

机构：

[1] Univ North Texas, G Brint Ryan Coll Business, Denton, TX 76203 USA

[2] Univ Pittsburgh, Katz Grad Sch Business, Pittsburgh, PA 15260 USA

[3] Univ Texas, McCombs Sch Business, Austin, TX 78705 USA

来源：

JOURNAL OF CORPORATE FINANCE | 2021年 / 66卷

关键词：

Environmental; Social; Governance; ESG; Corporate social responsibility; CSR; INSTITUTIONAL INVESTORS; PERFORMANCE; GOVERNANCE; COST; INVESTMENTS; PREFERENCES; COMPANIES; TRUST;

D O I：

10.1016/j.jcorpfin.2021.101889

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We review the financial economics-based research on Environmental, Social, and Governance (ESG) and Corporate Social Responsibility (CSR) with an emphasis on corporate finance. In doing so we focus on the most debated and researched issues. Although a firm?s ESG/CSR profile and activities are shown to be strongly related to the firm?s market, leadership and owner characteristics as well its risk, performance and value, there still exist conflicting hypotheses and results that we show are not resolved, leading to continued questions and a need for more research.

引用

页数：16

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