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A platform for research: civil engineering, architecture and urbanism
Lean against the wind : The effect of policy uncertainty on a firm's corporate social responsibility strategy
Funding Information: Daoju Peng acknowledges the financial support from Natural Science Foundation of China (number: 71603172 ). Jianfu Shen acknowledges the financial support from a start-up research grant (number: P0030199 ) and a RGC direct allocation grant (number: P0038209 ) from The Hong Kong Polytechnic University . Gonul Colak acknowledges the financial support from the Czech Science Foundation (grant number: 22-19617S ), Czech Republic. We thank Zhengyi Zhang for help with data. ; We examine the effect of policy uncertainty on firms' strategy of corporate social responsibility (CSR). During uncertain times, firms strategically increase their commitment to CSR causes. Policy uncertainty is positively associated with CSR performance regardless of the estimation method. CSR strategy can substitute for lobbying when firms attempt to manage policy uncertainty. Improved CSR performance can reduce firms' exposure to policy uncertainty which indicates that CSR commitment can deliver insurance-like benefits. The findings highlight the value of CSR commitments during uncertain times. ; Peer reviewed
Lean against the wind : The effect of policy uncertainty on a firm's corporate social responsibility strategy
Funding Information: Daoju Peng acknowledges the financial support from Natural Science Foundation of China (number: 71603172 ). Jianfu Shen acknowledges the financial support from a start-up research grant (number: P0030199 ) and a RGC direct allocation grant (number: P0038209 ) from The Hong Kong Polytechnic University . Gonul Colak acknowledges the financial support from the Czech Science Foundation (grant number: 22-19617S ), Czech Republic. We thank Zhengyi Zhang for help with data. ; We examine the effect of policy uncertainty on firms' strategy of corporate social responsibility (CSR). During uncertain times, firms strategically increase their commitment to CSR causes. Policy uncertainty is positively associated with CSR performance regardless of the estimation method. CSR strategy can substitute for lobbying when firms attempt to manage policy uncertainty. Improved CSR performance can reduce firms' exposure to policy uncertainty which indicates that CSR commitment can deliver insurance-like benefits. The findings highlight the value of CSR commitments during uncertain times. ; Peer reviewed
Lean against the wind : The effect of policy uncertainty on a firm's corporate social responsibility strategy
Peng, Daoju (author) / Colak, Gonul (author) / Shen, Jianfu (author) / Finance, Helsinki
2023-02-17
Article (Journal)
Electronic Resource
English
gubernatorial elections , http://hdl.handle.net/10227/545714 , 1- Publicerad utomlands , 2 - Hybrid open access publication channel , AoS: Financial management , policy uncertainty , 1 - Publication available open access by the publisher , and governance , 0- Ingen affiliation med ett företag , 2023 , 512 Business and Management , KOTA2023? , SDG 8 - Decent Work and Economic Growth , 1 - Self archived , SDG 12 - Responsible Consumption and Production , AACSB year , 1- Minst en av författarna har en utländsk affiliation , accounting , PRJ , PREM2023_03 , corporate social responsibility (CSR) , hedging strategy , 1,5
DDC:
690
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