Abstract
We study how corporate social responsibility relates to investors, firms and shareholder proposals. We examine shareholder proposals on environmental, social, and governance issues at the annual general meeting of shareholders with US Fortune 250 firms during 2011-2014. We find that especially the probability of receiving shareholder proposals on environmental issues is positively associated with responsible institutional ownership. We find no systematic evidence that the outperformance regarding social responsibility of the firms themselves would significantly matter regarding the likelihood of shareholders filing proposals about corporate social responsibility, except for employee well-being.
| Original language | English |
|---|---|
| Pages (from-to) | 648-660 |
| Journal | Corporate Social Responsibility and Environmental Management |
| Volume | 24 |
| Issue number | 6 |
| Early online date | 14 Jun 2017 |
| DOIs | |
| Publication status | Published - Nov 2017 |
Keywords
- Shareholder proposals
- Corporate social responsibility
- Socially responsible investing
- UN PRI
- Institutional investors
Access to Document
- CSREM 1434 accepted version - CSR and shareholder proposals
Copyright © 2017, John Wiley & Sons Ltd and ERP Environment This work is made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at https://doi.org/10.1002/csr.1434