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Foreign Subsidiary Csr As A Buffer Against Parent Firm Reputation Risk, Nan Zhou, Heli Wang
Foreign Subsidiary Csr As A Buffer Against Parent Firm Reputation Risk, Nan Zhou, Heli Wang
Research Collection Lee Kong Chian School Of Business
This study examines the influence of parent firm reputation risk on the level of corporate social responsibility activities of foreign subsidiaries. We first argue that a strong reputation risk spillover occurs from parent firms to their foreign subsidiaries due to the high visibility of multinationals, the control of parent firms over their subsidiaries, and the liability of foreignness associated with foreign firms in host countries. Then, we argue that subsidiaries may resort to CSR in their host country to reduce the spillover effect. Thus, we hypothesize a positive relationship between parent firm reputation risk and foreign subsidiary CSR activities. Moreover, …
The Global Sustainability Footprint Of Sovereign Wealth Funds, Hao Liang, Luc Renneboog
The Global Sustainability Footprint Of Sovereign Wealth Funds, Hao Liang, Luc Renneboog
Research Collection Lee Kong Chian School Of Business
With the emergence of sovereign wealth funds (SWFs) around the world managing equity of over $8 trillion, their impact on the corporate landscape and social welfare is being scrutinized. This study investigates whether and how SWFs incorporate environmental, social, and governance (ESG) considerations in their investment decisions in publicly listed corporations, as well as the subsequent evolution of target firms' ESG performance. We find that SWF funds do consider the level of past ESG performance as well as recent ESG score improvement when taking ownership stakes in listed companies. These results are driven by the SWF funds that do have …
Editors' Comments: Is Corporate Social Responsibility Research Undertheorized?, Heli Wang, Cristina Gibson, Udo Zander
Editors' Comments: Is Corporate Social Responsibility Research Undertheorized?, Heli Wang, Cristina Gibson, Udo Zander
Research Collection Lee Kong Chian School Of Business
Corporate social responsibility (CSR) is a concept that has brought about both progress and controversy. Under the banner of CSR, we have made progress in addressing some of the world’s most pressing challenges, yet corporations still struggle to figure out where, how, and when to devote their social efforts, and doubts abound as to whether corporate efforts are truly in the public’s best interest. Scholarly interest in CSR research has also flourished. As a pervasive topic in the business literature, CSR is being addressed not only in the management field but also in the domains of economics, finance, marketing, operations, …