The DOI matches its Crossref record; 12 of the 12 references it cites were found in a registry or an index.
Corporate social performance, analyst stock recommendations, and firm future returns
Abstract
This study posits that security analysts heed corporate social performance information and factor it into their recommendations to general investors. In particular, as corporate social performance is often uncertain and ambiguous to general investors, analysts may serve as the informational pathway connecting corporate social performance to firm stock returns. Thus, we argue that analyst recommendations mediate the relationship between corporate social performance and firm stock returns. On the basis of not only a qualitative study with literature searches and interviews of stock analysts but also a quantitative study with two longitudinal samples of large firms, we find support for these arguments. Our findings uncover an information‐based underlying mechanism for the link between corporate social performance and financial performance . Copyright © 2013 John Wiley & Sons, Ltd.
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Cites
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Asymptotic Confidence Intervals for Indirect Effects in Structural Equation Models
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Zhao, X., Lynch, J. G., & Chen, Q. (2010) · Journal of Consumer Research · doi:10.1086/651257 · Cited by 12,583
Corporate Social and Financial Performance: A Meta-Analysis
Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003) · Organization Studies · doi:10.1177/0170840603024003910 · Cited by 7,641
Giving content to investor sentiment: The role of media in the stock market
TETLOCK, P. C. (2007) · The Journal of Finance · doi:10.1111/j.1540-6261.2007.01232.x · Cited by 4,827
Corporate Social Responsibility, Customer Satisfaction, and Market Value
Luo, X., & Bhattacharya, C. B. (2006) · Journal of Marketing · doi:10.1509/jmkg.70.4.001 · Cited by 3,439
Self-citationCorporate responsibility and financial performance: The role of intangible resources
Surroca, J., Tribó, J. A., & Waddock, S. (2010) · Strategic Management Journal · doi:10.1002/smj.820 · Cited by 2,252
Dhaliwal, D. S., Radhakrishnan, S., Tsang, A., & Yang, Y. G. (2012) · The Accounting Review · doi:10.2308/accr-10218 · Cited by 1,916
Cited by
Institutional shareholders and corporate social responsibility
Chen, T., Dong, H., & Lin, C. (2020) · Journal of Financial Economics · doi:10.1016/j.jfineco.2019.06.007 · Cited by 975
On the relation between corporate social responsibility and financial performance
Awaysheh, A., Heron, R. A., Perry, T., & Wilson, J. I. (2020) · Strategic Management Journal · doi:10.1002/smj.3122 · Cited by 477
A Behavioral Theory of Social Performance: Social Identity and Stakeholder Expectations
Nason, R. S., Bacq, S., & Gras, D. (2018) · Academy of Management Review · doi:10.5465/amr.2015.0081 · Cited by 284
García‐Sánchez, I., Rodríguez‐Ariza, L., Aibar‐Guzmán, B., & Aibar‐Guzmán, C. (2020) · Business Strategy and the Environment · doi:10.1002/bse.2485 · Cited by 283
Climate Risk, Corporate Social Responsibility, and Firm Performance
Ozkan, A., Temiz, H., & Yildiz, Y. (2023) · British Journal of Management · doi:10.1111/1467-8551.12665 · Cited by 268
Metadata
- Authors
- Luo, X., Wang, H., Raithel, S., & Zheng, Q.
- Venue
- Strategic Management Journal
- Publisher
- Wiley
- Published
- 2014-02-03
- Volume
- 36
- Issue
- 1
- Pages
- 123-136
- ISSN
- 0143-2095 (ISSN-L)
- 1097-0266
- OpenAlex
- W1879169835
- Cited by
- 533
- References
- 12
- FWCI
- 56.71
- Type
- journal article
- Language
- en
- Open access
- closed
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
