Value-enhancing social responsibility: market reaction to donations by family vs. non-family firms with religious CEOs
Using a signaling framework, we argue that ethical behavior as evidenced by charitable donations is viewed more positively by investors when seen not to be based on self-serving motives but rather on authentic generosity that builds moral capital. The affirmed religiosity of CEOs may make their ethi...
| Κύριοι συγγραφείς: | ; ; ; |
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| Τύπος μέσου: | Ηλεκτρονική πηγή Άρθρο |
| Γλώσσα: | Αγγλικά |
| Έλεγχος διαθεσιμότητας: | HBZ Gateway |
| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Έκδοση: |
2020
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| Στο/Στη: |
Journal of business ethics
Έτος: 2020, Τόμος: 163, Τεύχος: 4, Σελίδες: 745-758 |
| Άλλες λέξεις-κλειδιά: | B
Family firms
B Aufsatz in Zeitschrift B Moral capital B Philanthropy B Θρησκεία (μοτίβο) |
| Διαθέσιμο Online: |
Πιθανολογούμενα δωρεάν πρόσβαση Volltext (lizenzpflichtig) Volltext (lizenzpflichtig) |
| Σύνοψη: | Using a signaling framework, we argue that ethical behavior as evidenced by charitable donations is viewed more positively by investors when seen not to be based on self-serving motives but rather on authentic generosity that builds moral capital. The affirmed religiosity of CEOs may make their ethical position more credible, while their embeddedness within a family business suggests that CEOs are backed by powerful owners with long-time horizons and a desire to build moral capital with stakeholders. We find in a study of market responses to 1572 corporate donations by S |
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| ISSN: | 1573-0697 |
| Περιλαμβάνει: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-019-04381-8 |
