Corporate social responsibility and shareholder proposals

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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 languageEnglish
Pages (from-to)648-660
JournalCorporate Social Responsibility and Environmental Management
Volume24
Issue number6
Early online date14 Jun 2017
DOIs
Publication statusPublished - Nov 2017

Keywords

  • Shareholder proposals
  • Corporate social responsibility
  • Socially responsible investing
  • UN PRI
  • Institutional investors

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