Rhetoric, Reality, and Reputation Do CSR and Political Lobbying Protect Shareholder Wealth against Environmental Lawsuits?

We investigate whether firms' corporate social responsibility (CSR) reputations and environmental lobbying efforts protect shareholder wealth in the event of environmental lawsuits. Using a sample of lawsuits filed in United States Federal Courts, we find that firms with superior CSR reputation...

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Bibliographic Details
Published in:	Journal of financial and quantitative analysis Vol. 55; no. 2; pp. 679 - 706
Main Authors:	Liu, Chelsea, Cheong, Chee Seng, Zurbruegg, Ralf
Format:	Journal Article
Language:	English
Published:	Seattle Cambridge University Press 01.03.2020
Subjects:	Alternative approaches Courts Emissions Environmental impact Environmental policy Expenditures Falsification Fines & penalties Greenhouse gases Hypotheses Insurance Litigation Lobbying Oil spills Politics Propensity Quantitative analysis Reputations Rhetoric Shareholders wealth Social responsibility Stockholders Valuation Wealth
ISSN:	0022-1090, 1756-6916
Online Access:	Get full text
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