Inducing corporate social responsibility: should investors reward the responsible or punish the irresponsible?
Investors with a pro-social or sustainability agenda increasingly attempt to influence firm managers to adopt socially responsible behavior, either through positive/reward tactics or negative/punishment tactics. This paper considers how investors can use each approach to differentially influence man...
| Authors: | ; ; ; |
|---|---|
| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Published: |
2022
|
| In: |
Journal of business ethics
Year: 2022, Volume: 175, Issue: 1, Pages: 59-73 |
| Further subjects: | B
Socially Responsible Investing
B Inducements B CSR B All-pay contests B Sri B Managerial incentives B Share-holder activism B Corporate social responsibility B Investors B Rewards B Aufsatz in Zeitschrift B Stakeholders B Punishments |
| Online Access: |
Volltext (lizenzpflichtig) Volltext (lizenzpflichtig) |
MARC
| LEADER | 00000caa a2200000 c 4500 | ||
|---|---|---|---|
| 001 | 1782414649 | ||
| 003 | DE-627 | ||
| 005 | 20230710120831.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 211217s2022 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1007/s10551-020-04669-0 |2 doi | |
| 035 | |a (DE-627)1782414649 | ||
| 035 | |a (DE-599)KXP1782414649 | ||
| 035 | |a (DE-He213)s10551-020-04669-0-e | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a 1 |2 ssgn | ||
| 100 | 1 | |a Mackey, Tyson B. |e VerfasserIn |4 aut | |
| 245 | 1 | 0 | |a Inducing corporate social responsibility |b should investors reward the responsible or punish the irresponsible? |c Tyson B. Mackey, Alison Mackey, Lisa Jones Christensen, Jason J. Lepore |
| 264 | 1 | |c 2022 | |
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 520 | |a Investors with a pro-social or sustainability agenda increasingly attempt to influence firm managers to adopt socially responsible behavior, either through positive/reward tactics or negative/punishment tactics. This paper considers how investors can use each approach to differentially influence managers to make more CSR investments. The paper uses game theory with an all-pay contest structure to model how a large institutional investor could reward firms for CSR activities by creating a socially responsible investment fund (reward contest) or punish firms via shareholder activism (punishment contest). We identify conditions under which the punishment contest induces a higher level of CSR activity among firms compared to the reward contest. Managers bearing substantial private costs stemming from the activism is one such condition. Spillover effects are seen as the other managers in the economy engage in CSR to avoid being punished by the investor's activism. This level of engagement is not the case when rewards are used - only those managers with an expectation of being rewarded increase their CSR activity in that scenario. This suggests, for example, that incorporating thresholds or tiers (e.g. gold, silver, and bronze-level winners) can increase the effectiveness of reward contests. Implications for designing both positive and negative CSR inducements are explored. We also identify the ethical dilemmas that relate to such influence attempts. | ||
| 601 | |a Investor | ||
| 650 | 4 | |a Corporate Social Responsibility |7 (dpeaa)DE-206 | |
| 650 | 4 | |a CSR |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Socially Responsible Investing |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Sri |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Share-holder activism |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Stakeholders |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Investors |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Inducements |7 (dpeaa)DE-206 | |
| 650 | 4 | |a All-pay contests |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Rewards |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Punishments |7 (dpeaa)DE-206 | |
| 650 | 4 | |a Managerial incentives |7 (dpeaa)DE-206 | |
| 655 | 4 | |0 (DE-206)49 |a Aufsatz in Zeitschrift |5 DE-206 | |
| 700 | 1 | |e VerfasserIn |0 (DE-588)1025071883 |0 (DE-627)720935288 |0 (DE-576)369896734 |4 aut |a Mackey, Alison | |
| 700 | 1 | |e VerfasserIn |0 (DE-588)1213038278 |0 (DE-627)1703264983 |4 aut |a Christensen, Lisa Jones | |
| 700 | 1 | |e VerfasserIn |0 (DE-588)132723859 |0 (DE-627)52591899X |0 (DE-576)299369862 |4 aut |a Lepore, Jason J. | |
| 773 | 0 | 8 | |i Enthalten in |t Journal of business ethics |d Dordrecht : Springer, 1982 |g 175(2022), 1 vom: Jan., Seite 59-73 |h Online-Ressource |w (DE-627)270937129 |w (DE-600)1478688-6 |w (DE-576)121465284 |x 1573-0697 |7 nnas |
| 773 | 1 | 8 | |g volume:175 |g year:2022 |g number:1 |g month:01 |g pages:59-73 |
| 856 | 4 | 0 | |u https://link.springer.com/content/pdf/10.1007/s10551-020-04669-0.pdf |x Verlag |z lizenzpflichtig |7 1 |
| 856 | 4 | 0 | |u https://doi.org/10.1007/s10551-020-04669-0 |x Resolving-System |z lizenzpflichtig |3 Volltext |7 1 |
| 951 | |a AR | ||
| ELC | |a 1 | ||
| ITA | |a 1 |t 1 | ||
| LOK | |0 000 xxxxxcx a22 zn 4500 | ||
| LOK | |0 001 4021452516 | ||
| LOK | |0 003 DE-627 | ||
| LOK | |0 004 1782414649 | ||
| LOK | |0 005 20211217094203 | ||
| LOK | |0 008 211217||||||||||||||||ger||||||| | ||
| LOK | |0 040 |a DE-Tue135 |c DE-627 |d DE-Tue135 | ||
| LOK | |0 092 |o n | ||
| LOK | |0 852 |a DE-Tue135 | ||
| LOK | |0 852 1 |9 00 | ||
| LOK | |0 935 |a ixzs |a ixzo | ||
| LOK | |0 939 |a 17-12-21 |b l01 | ||
| ORI | |a SA-MARC-ixtheoa001.raw | ||
| STA | 0 | 0 | |a Corporate social responsibility |
| STB | 0 | 0 | |a Responsabilité sociale de l'entreprise |
| STC | 0 | 0 | |a Responsabilidad social de la empresa |
| STD | 0 | 0 | |a Corporate social responsibility,Responsabilità sociale d'impresa,Responsabilità sociale d'impresa |
| STF | 0 | 0 | |a 企業社會責任 |
| STG | 0 | 0 | |a Responsabilidade social da empresa |
| STH | 0 | 0 | |a Корпоративная социальная ответственность |
| STI | 0 | 0 | |a Εταιρική κοινωνική ευθύνη,Corporate social responsibility |
| SYE | 0 | 0 | |a Corporate social responsibility,Corporate citizenship,Corporate environment responsibility,Corporate environmental responsibility,Corporate responsibility,Corporate sustainability management,Corporate volunteering,CSR (Corporate social responsibility),Environment social governance,Environmental, social and corporate governance,Environmental, social and governance,ESG,Gesellschaftliche Unternehmensverantwortung,Gesellschaftliche Verantwortung von Unternehmen,Gesellschaftliches Engagement von Unternehmen,Nachhaltigkeitsmanagement,Soziale Verantwortung von Unternehmen,Soziales Engagement von Unternehmen,Unternehmensverantwortung,Unternehmerische Sozialverantwortung,CSR,Corporate Citizenship,Unternehmerische Gesellschaftsverantwortung,Unternehmerische Sozialverantwortung,Unternehmen |
