Stakeholders and the stock price crash risk: What matters in corporate social performance?

A Dumitrescu, M Zakriya - Journal of Corporate Finance, 2021 - Elsevier
This study provides evidence for the differential impacts of corporate social responsibility
(CSR) initiatives targeting different stakeholder groups on stock price crash risk. In particular …

Does stakeholder orientation matter for earnings management: Evidence from non-shareholder constituency statutes

X Ni - Journal of Corporate Finance, 2020 - Elsevier
Using a difference-in-differences methodology, this paper finds that greater stakeholder
orientation due to the adoption of non-shareholder constituency statutes, which allow …

Stakeholder orientation and corporate payout policy: Insights from state legal shocks

X Ni, W Song, J Yao - Journal of Banking & Finance, 2020 - Elsevier
We employ a difference-in-differences estimation approach to examine the impact of
stakeholder orientation on corporate payout policy. The empirical test exploits the enactment …

[HTML][HTML] Staggered adoption of stakeholder constituency statutes and corporate cash holdings in the US

M Atif, S Nadarajah, G Richardson - Economic Modelling, 2023 - Elsevier
Fiduciary duties of managers are often referred to as the “primacy question” in corporate law.
However, extant literature focuses on the primacy of shareholders' interests. We examine the …

Stakeholder orientation and trade credit: Evidence from a natural experiment

T Li, C Lu, H Wang - International Review of Economics & Finance, 2023 - Elsevier
Using the enactment of constituency statutes, which encourage corporate directors and
officers to consider stakeholders' interests when making business decisions, as a quasi …

Stakeholder orientation and bank payout policy: evidence from US constituency statutes

DK Chronopoulos, MH Yilmaz… - British Journal of …, 2023 - Wiley Online Library
We investigate the impact of stakeholder orientation on bank payout policy. As a quasi‐
experimental setting, we exploit the staggered enactment of constituency statutes across US …

The spillover effect of constituency statutes along supply chains: Evidence from supplier commitment

D Bao, R Fang, LN Su - Journal of Financial Stability, 2024 - Elsevier
This study examines the spillover effect of constituency statutes along the supply chain. We
posit that the enactment of constituency statutes in customer firms' incorporation states, by …

Stakeholder orientation and product market performance: Evidence from a natural experiment

J Lu, J Wei - Review of Financial Economics, 2024 - Wiley Online Library
We examine the causal effect of stakeholder orientation on firms' product market
performance. Using the staggered enactment of constituency statutes across different states …

[PDF][PDF] The implications of stakeholder orientation on corporate behavior and financial markets

X Xin - 2022 - figshare.mq.edu.au
This thesis investigates the implications of stakeholder orientation on corporate payout,
stock liquidity, and cost stickiness. There is persistent debate on whether the company …