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  1. Twitter Presence and Experience Improve Corporate Social Responsibility Outcomes.Siva K. Balasubramanian, Yiwei Fang & Zihao Yang - 2020 - Journal of Business Ethics 173 (4):737-757.
    We investigate the role of social-media-triggered public pressure on corporate social responsibility that includes expectations of transparency and accountability on the firm’s part, and participative/evaluative inputs on the public’s part. Using the date when S&P 500 firms established corporate Twitter accounts, we investigate the impact of corporate social media exposure on CSR outcomes. Results from baseline regressions indicate that firms with Twitter accounts significantly outperform industry peers in CSR rating, after controlling for firm and industry characteristics. To test potential reverse (...)
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  • Changes in Corporate Social Responsibility and Stock Performance.Hui-Ju Tsai & Yangru Wu - 2022 - Journal of Business Ethics 178 (3):735-755.
    We study the relationship between corporate social performance and financial performance by comparing the portfolio returns of firms with changes in corporate social responsibility (CSR) intensity. Using an extensive US sample from the MSCI ESG database, we find that improvement in the overall CSR is generally value enhancing. The relationship varies with CSR dimensions. More importantly, the relationship shifts differently for various CSR dimensions during the crisis period when trust in the society is low and financial resource is limited. Improvement (...)
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