The Effect Of Socially Activist Investment Policies On The Financial Markets: Evidence From The South African Boycott

Teoh, Siew Hong; Welch, Ivo; Wazzan, C. Paul

doi:10.2139/ssrn.10203

Cited by 149 publications

(134 citation statements)

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“…Studies conducted by Waddock and Graves [8], Wright and Ferris [9], Teoh and Wazzan [10], and McWilliam and Siegal [11] revealed a positive, negative, and neutral relationship, respectively, between CSR and economic performance. Studies in which a positive relationship is observed suggest that CSR increases a firm's productivity by boosting the confidence of employees and organizational solidarity.…”

Section: Csr and Performancementioning

confidence: 96%

An Analysis of CSR on Firm Financial Performance in Stakeholder Perspectives

Hong

Hwang

2017

Sustainability

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Sustainable growth can be a source of success for firms. Corporate social responsibility (CSR) is a key tool for sustainable growth. However, should firms invest in CSR without having confidence in the effects and methods of CSR? This study explored the R&D, technology commercialization, and CSR motivation as core competencies that enhance corporate performance through CSR from a normative perspective-the stakeholder's perspective. The purpose of this study was to investigate both strategic and traditional CSR's relationships with financial performance based on the confidence in the effectiveness of CSR. Another important objective of this study was to explore management factors that influence strategic CSR. Firms consider R&D and technology commercialization as strategic management factors. Therefore, this study analyzed the influence of these strategic management factors along with CSR motivations, which may influence strategic and traditional CSR.

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Section: Csr and Performancementioning

confidence: 96%

An Analysis of CSR on Firm Financial Performance in Stakeholder Perspectives

Hong

Hwang

2017

Sustainability

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“…2 For example, boycotts of French wine after the country's failure to support the US in Iraq were probably ineffective (Ashenfelter et al, 2007). 3 Teoh et al (1999) examine the effect of the South African Boycott on the stock prices of affected firms, and find that it had no clear impact. In general, the valuations of firms affected by boycotts do not react (Koku et al, 1997).…”

Section: Introductionmentioning

confidence: 99%

Reprisals Remembered: German-Greek Conflict and Car Sales During the Euro Crisis

Fouka

Voth

2013

SSRN Journal

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During the Greek debt crisis after 2010, the German government insisted on harsh austerity measures. This led to a rapid cooling of relations between the Greek and German governments. We compile a new index of public acrimony between Germany and Greece based on newspaper reports and internet search terms. This information is combined with historical maps on German war crimes during the occupation between 1941 and 1944. During months of open conflict between German and Greek politicians, German car sales fell markedly more than those of cars from other countries. This was especially true in areas affected by German reprisals during World War II: areas where German troops committed massacres and destroyed entire villages curtailed their purchases of German cars to a greater extent during conflict months than other parts of Greece. We conclude that cultural aversion was a key determinant of purchasing behavior, and that memories of past conflict can affect economic choices in a time-varying fashion. These findings are compatible with behavioral models emphasizing the importance of salience for individual decisionmaking.JEL: D12, D74, F14, N14, N44

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“…Sustainable profits depend on the stability of the societal context of business operations. For example, corporations like IBM, GM or Exxon had to withdraw from apartheid South Africa, as they were heavily criticized by NGOs for collaborating with the regime (Spar and La Mure, 2003 ;Teoh et al, 1999). Therefore, corporations should be interested in first respecting and then promoting human rights (Chandler, 2003).…”

Section: Introductionmentioning

confidence: 99%