Access the full text.
Sign up today, get DeepDyve free for 14 days.
Loading next page...
/lp/sage/investors-reactions-to-csr-news-in-family-versus-nonfamily-firms-a-dH6JxZQu6a
References (163)
-
J. Margolis, Hillary Elfenbein, J. Walsh (2009)
Does it Pay to Be Good...And Does it Matter? A Meta-Analysis of the Relationship between Corporate Social and Financial PerformanceOrganizations & Markets: Motivation & Incentives eJournal
-
E. Dimson, Og̃uzhan Karakaş, Xi Li (2015)
Active OwnershipCSR & Management Practice eJournal
-
Ying‐Jiuan Wong, Shao‐Chi Chang (2009)
Does a Family-Controlled Firm Perform Better in Corporate Venturing?ERPN: Other Family Business (Sub-Topic)
-
Ali Fatemi, Iraj Fooladi, H. Tehranian (2015)
Valuation effects of corporate social responsibilityJournal of Banking and Finance, 59
-
A. Barnea, Amir Rubin (2006)
Corporate Social Responsibility as a Conflict Between ShareholdersJournal of Business Ethics, 97
-
J. Franks, C. Mayer (2000)
Ownership and Control of German CorporationsCorporate Law: Corporate & Takeover Law eJournal
-
Isabel Botero (2014)
Effects of communicating family ownership and organisational size on an applicant's attraction to a firm: An empirical examination in the USA and ChinaJournal of Family Business Strategy, 5
-
Wenjing Li, Ran Zhang (2010)
Corporate Social Responsibility, Ownership Structure, and Political Interference: Evidence from ChinaJournal of Business Ethics, 96
-
Carmelo Cennamo, P. Berrone, C. Cruz, L. Gómez‐Mejía (2012)
Socioemotional Wealth and Proactive Stakeholder Engagement: Why Family–Controlled Firms Care More about their StakeholdersEntrepreneurship Theory and Practice, 36
-
David Miller, Isabelle Breton-Miller, Richard Lester, Albert Cannella (2007)
Are family firms really superior performersJournal of Corporate Finance, 13
-
M. Vries (1993)
The dynamics of family controlled firms: The good and the bad news.Organizational Dynamics, 21
-
James Chrisman, Pankaj Patel (2012)
Variations in R&D Investments of Family and Nonfamily Firms: Behavioral Agency and Myopic Loss Aversion PerspectivesAcademy of Management Journal, 55
-
G. Capelle-Blancard, Aurélien Petit (2019)
Every Little Helps? ESG News and Stock Market ReactionJournal of Business Ethics, 157
-
Jörn Block, M. Stiglbauer, Anna-Lena Kühn, Dominik Wagner (2015)
Corporate social responsibility communication of German family firms: a content analysisuwf UmweltWirtschaftsForum, 23
-
L. Bebchuk (2003)
The Case for Increasing Shareholder PowerCGA: Interests
-
Jeroen Neckebrouck, W. Schulze, T. Zellweger (2017)
Are Family Firms Good EmployersAcademy of Management Journal, 61
-
Shuili Du, C. Bhattacharya, Sankar Sen (2007)
Reaping Relational Rewards from Corporate Social Responsibility: The Role of Competitive PositioningO&M: Firms & Other Social Institutions eJournal
-
S. Claessens, Simeon Djankov, Leora Klapper (2003)
Resolution of corporate distress in East AsiaJournal of Empirical Finance, 10
-
Alexandra Dawson, Gianluca Ginesti, Salvatore Sciascia (2020)
Family-related antecedents of business legality: An empirical investigation among Italian family owned SMEsJournal of Family Business Strategy
-
Max Leitterstorf, Sabine Rau (2014)
Socioemotional wealth and IPO underpricing of family firmsSouthern Medical Journal, 35
-
L. Renneboog, J. Horst, Chendi Zhang (2008)
Socially responsible investments: Institutional aspects, performance, and investor behaviorJournal of Banking and Finance, 32
-
Michael Barnett (2005)
Stakeholder Influence Capacity and the Variability of Financial Returns to Corporate Social ResponsibilityCorporate Social Responsibility (CSR) eJournal
-
Danny Miller, Isabelle Breton-Miller, Richard Lester (2013)
Family Firm Governance, Strategic Conformity, and Performance: Institutional vs. Strategic PerspectivesOrgan. Sci., 24
-
Eileen Fischer, Rebecca Reuber (2007)
The Good, the Bad, and the Unfamiliar: The Challenges of Reputation Formation Facing New FirmsEntrepreneurship Theory and Practice, 31
-
W. Dyer, D. Whetten (2006)
Family Firms and Social Responsibility: Preliminary Evidence from the S&P 500Entrepreneurship Theory and Practice, 30
-
P. André, W. Ben‐Amar, Samir Saadi (2012)
Family firms and high technology Mergers & AcquisitionsJournal of Management & Governance, 18
-
P. Jayamohan, A. McKelvie, Todd Moss (2017)
Blame You, Blame Me: Exploring Attribution Differences and Impact in Family and Nonfamily FirmsFamily Business Review, 30
-
Abagail McWilliams, D. Siegel (1997)
Event Studies In Management Research: Theoretical And Empirical IssuesAcademy of Management Journal, 40
-
S. Khotari, Jerold Warner, S. Kothari, W. Simon, J. Lewellen, Adam Kolasinski, J. Ritter, Irfan Safdar, Alan Wancier (2007)
Econometrics of Event Studies -
Sanjay Ramchander, Robert Schwebach, K. Staking (2012)
The informational relevance of corporate social responsibility: evidence from DS400 index reconstitutionsSouthern Medical Journal, 33
-
Richard Johnson, D. Greening (1999)
The Effects of Corporate Governance and Institutional Ownership Types on Corporate Social PerformanceAcademy of Management Journal, 42
-
P. Duran, M. Essen, P. Heugens, T. Kostova, Mike Peng (2018)
The impact of institutions on the competitive advantage of publicly listed family firms in emerging marketsGlobal Strategy Journal
-
Bill Francis, Xian Sun, I. Hasan (2008)
Financial Market Integration and the Value of Global Diversification: Evidence from US Acquirers in Cross-Border Mergers and AcquisitionsS&P Global Market Intelligence Research Paper Series
-
Paul Godfrey (2005)
The Relationship Between Corporate Philanthropy And Shareholder Wealth: A Risk Management PerspectiveAcademy of Management Review, 30
-
D. Money (2020)
The dog that didn’t barkRethinking White Societies in Southern Africa
-
Nadine Kammerlander, M. Ganter (2015)
An Attention‐Based View of Family Firm Adaptation to Discontinuous Technological Change: Exploring the Role of Family CEOs' Noneconomic GoalsJournal of Product Innovation Management, 32
-
Brian Connelly, R. Hoskisson, L. Tihanyi, S. Certo (2010)
Ownership as a Form of Corporate GovernanceCGN: Controlling Shareholders (Topic)
-
A. Cellier, Pierre Chollet (2016)
The effects of social ratings on firm valueResearch in International Business and Finance, 36
-
M. Carney (2005)
Corporate Governance and Competitive Advantage in Family–Controlled FirmsEntrepreneurship Theory and Practice, 29
-
Nai Lamb, F. Butler (2018)
The Influence of Family Firms and Institutional Owners on Corporate Social Responsibility PerformanceBusiness & Society, 57
-
Linda Niehm, Jane Swinney, Nancy Miller (2008)
Community Social Responsibility and Its Consequences for Family Business Performance*1Journal of Small Business Management, 46
-
Sabine Rau, Viktoria Schneider-Siebke, Christina Günther (2019)
Family Firm Values Explaining Family Firm HeterogeneityFamily Business Review, 32
-
Tobias Dehlen, T. Zellweger, Nadine Kammerlander, F. Halter (2014)
The role of information asymmetry in the choice of entrepreneurial exit routesJournal of Business Venturing, 29
-
David Deephouse, Peter Jaskiewicz (2013)
Do Family Firms Have Better Reputations than Non‐Family Firms? An Integration of Socioemotional Wealth and Social Identity TheoriesORG: Other Organizational Behavior & Key Stakeholders (Topic)
-
Elitsa Banalieva, K. Eddleston, T. Zellweger (2015)
When do family firms have an advantage in transitioning economies? Toward a dynamic institution-based viewSouthern Medical Journal, 36
-
Steve Sauerwald, J. Oosterhout, Marc Essen (2016)
Expressive Shareholder Democracy: A Multilevel Study of Shareholder Dissent in 15 Western European CountriesDecision Making
-
Alex Stewart, M. Hitt (2012)
Why Can’t a Family Business Be More Like a Nonfamily Business?Family Business Review, 25
-
Ronald Anderson, S. Mansi, D. Reeb (2003)
Founding Family Ownership and the Agency Cost of DebtCorporate Finance: Valuation
-
W. Schulze, M. Lubatkin, Richard Dino, Ann Buchholtz (2001)
Agency Relationships in Family Firms: Theory and EvidenceOrganization Science, 12
-
N. Park, John Mezias (2005)
Before and after the technology sector crash: the effect of environmental munificence on stock market response to alliances of e‐commerce firmsSouthern Medical Journal, 26
-
P. Berrone, C. Cruz, L. Gómez‐Mejía, Martín Larraza-Kintana (2010)
Socioemotional Wealth and Corporate Responses to Institutional Pressures: Do Family-Controlled Firms Pollute Less?Administrative Science Quarterly, 55
-
Paul Godfrey, Craig Merrill, J. Hansen (2009)
The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesisSouthern Medical Journal, 30
-
Herman Aguinis (2011)
Organizational responsibility: Doing good and doing well. -
D. Dupré, Isabelle Girerd-Potin, Sonia Jimenez-Garces, P. Louvet (2006)
Les investisseurs paient pour l'éthique: conviction ou prudence -
Sabrina Schell, J. Groote, Petra Moog, Andreas Hack (2020)
Successor selection in family business—A signaling gameJournal of Family Business Strategy, 11
-
S. Soroka (2006)
Good News and Bad News: Asymmetric Responses to Economic InformationThe Journal of Politics, 68
-
Karl Lins, P. Volpin, Hannes Wagner (2013)
Does Family Control Matter? International Evidence from the 2008-2009 Financial CrisisCorporate Governance: Actors & Players eJournal
-
Daniela Andreini, Cristina Bettinelli, Giuseppe Pedeliento, Roberta Apa (2020)
How Do Consumers See Firms’ Family Nature? A Review of the LiteratureFamily Business Review, 33
-
W. Tabor, K. Madison, J. Daspit, Daniel Holt (2018)
The Heterogeneity of Family Firm Ethical Cultures: Current Insights and Future DirectionsThe Palgrave Handbook of Heterogeneity among Family Firms
-
Allen Ferrell, Hao Liang, L. Renneboog (2014)
Socially Responsible FirmsERN: Other Organizations & Markets: Decision-Making in Organizations (Topic)
-
Dra. Souto (2009)
Crisis and Corporate Social Responsibility: Threat or Opportunity?International Journal of Business and Economic Sciences Applied Research, 2
-
James Chrisman, J. Chua, Reginald Litz (2004)
Comparing the Agency Costs of Family and Non–Family Firms: Conceptual Issues and Exploratory EvidenceEntrepreneurship Theory and Practice, 28
-
P. Davidsson, S. Gordon (2016)
Much Ado about Nothing? The Surprising Persistence of Nascent Entrepreneurs through Macroeconomic CrisisEntrepreneurship Theory and Practice, 40
-
M. Spence (2002)
Signaling in Retrospect and the Informational Structure of MarketsThe American Economic Review, 92
-
S. Waddock, Samuel Graves (1997)
The corporate social performance-financial performance linkStrategic Management Journal, 18
-
P. Berrone, C. Cruz, L. Gómez‐Mejía (2012)
Socioemotional Wealth in Family FirmsFamily Business Review, 25
-
Alex Edmans (2010)
Does the Stock Market Fully Value Intangibles? Employee Satisfaction and Equity PricesBehavioral & Experimental Finance eJournal
-
Keith Duncan, Tim Hasso (2018)
Family Governance Signals and Heterogeneous Preferences of InvestorsJournal of Behavioral Finance, 19
-
C. Kahlert, Isabel Botero, Reinhard Prügl (2017)
Revealing the family: Effects of being perceived as a family firm in the recruiting market in GermanyJournal of Family Business Management, 7
-
Craig Mackinlay (1997)
Event Studies in Economics and FinanceJournal of Economic Literature, 35
-
M. Goranova, Todd Alessandri, Pamela Brandes, Ravi Dharwadkar (2007)
Managerial ownership and corporate diversification: A longitudinal viewSouthern Medical Journal, 28
-
M. Spence (1973)
Job Market SignalingQuarterly Journal of Economics, 87
-
Wei Huang, Jinxi Li, Qiang Zhang (2019)
Information asymmetry, legal environment, and family firm governance: Evidence from IPO underpricing in ChinaPacific-Basin Finance Journal
-
G. Gavana, P. Gottardo, A. Moisello (2017)
Earnings Management and CSR Disclosure. Family vs. Non-Family FirmsSustainability, 9
-
M. Benlemlih, Jamil Jaballah, J. Peillex (2018)
Does it really pay to do better? Exploring the financial effects of changes in CSR ratingsApplied Economics, 50
-
L. Edelman, Helena Yli-Renko (2010)
The Impact of Environment and Entrepreneurial Perceptions on Venture-Creation Efforts: Bridging the Discovery and Creation Views of EntrepreneurshipEntrepreneurship Theory and Practice, 34
-
M. Essen, P. Engelen, M. Carney (2013)
Does 'Good' Corporate Governance Help in a Crisis? The Impact of Country‐ and Firm‐Level Governance Mechanisms in the European Financial CrisisFEN: Other International Corporate Finance (Topic)
-
Ascensión Martínez, Ramón Galván, Isabel Botero, Óscar González-López, María Mateos (2019)
Exploring family business brands: Understanding predictors and effectsJournal of Family Business Strategy
-
Naciye Sekerci (2018)
Factors Associated with Strategic Corporate Decisions in Family Firms: Evidence from SwedenERN: Governance & Ownership (Topic)
-
A. Verbeke, Liena Kano (2012)
The Transaction Cost Economics Theory of the Family Firm: Family–Based Human Asset Specificity and the Bifurcation BiasEntrepreneurship Theory and Practice, 36
-
T. Zellweger, Robert Nason (2008)
A Stakeholder Perspective on Family Firm PerformanceFamily Business Review, 21
-
Peter Jaskiewicz, Donald Neubaum, Alfredo Massis, Daniel Holt (2020)
The Adulthood of Family Business Research Through Inbound and Outbound TheorizingFamily Business Review, 33
-
I. Filatotchev, Kate Bishop (2002)
Board composition, share ownership, and 'underpricing'of U.K. IPO firmsSouthern Medical Journal, 23
-
Jonathan Karpoff, D. Lee, Gerald Martin (2008)
The Cost to Firms of Cooking the BooksJournal of Financial and Quantitative Analysis, 43
-
T. Habbershon, M. Williams (1999)
A Resource-Based Framework for Assessing the Strategic Advantages of Family FirmsFamily Business Review, 12
-
Benjamin Maury (2006)
Family Ownership and Firm Performance: Empirical Evidence from Western European CorporationsJournal of Corporate Finance, 12
-
Jennifer Martínez‐Ferrero, Lázaro Rodríguez‐Ariza, Isabel‐María García‐Sánchez (2016)
Corporate social responsibility as an entrenchment strategy, with a focus on the implications of family ownershipJournal of Cleaner Production, 135
-
Shawn Riley, Steven Michael, Joseph Mahoney (2017)
Human capital matters: Market valuation of firm investments in training and the role of complementary assetsSouthern Medical Journal, 38
-
L. Gómez‐Mejía, C. Cruz, P. Berrone, J. Castro (2011)
The Bind that Ties: Socioemotional Wealth Preservation in Family FirmsThe Academy of Management Annals, 5
-
A. Chudik, Marcel Fratzscher (2010)
Identifying the Global Transmission of the 2007-09 Financial Crisis in a GVAR ModelMicroeconomics: General Equilibrium & Disequilibrium Models of Financial Markets eJournal
-
A. Barron, P. Hultén, S. Hudson (2012)
The financial crisis and the gathering of political intelligence: A cross-country comparison of SMEs in France, Sweden and the UKInternational Small Business Journal, 30
-
O. Petrenko, Federico Aime, Jason Ridge, A. Hill (2016)
Corporate social responsibility or CEO narcissism? CSR motivations and organizational performanceStrategic Management Journal, 37
-
Gevorg Hunanyan (2019)
Portfolio SelectionFinanzwirtschaft, Banken und Bankmanagement I Finance, Banks and Bank Management
-
S. Certo, C. Daily, Dan Dalton (2001)
Signaling Firm Value through Board Structure: An Investigation of Initial Public OfferingsEntrepreneurship Theory and Practice, 26
-
Brian Connelly, S. Certo, R. Ireland, Christopher Reutzel (2011)
Signaling Theory: A Review and AssessmentJournal of Management, 37
-
Yan Zhang, M. Wiersema (2009)
Stock market reaction to CEO certification: the signaling role of CEO backgroundSouthern Medical Journal, 30
-
A. Akpınar, Yiyi Jiang, L. Gómez‐Mejía, P. Berrone, Judith Walls (2008)
Strategic Use of CSR as a Signal for Good ManagementPolitical Economy: Comparative Political Economy eJournal
-
R. Porta, Florencio Silanes, Andrei Shleifer (1998)
Corporate Ownership Around the WorldCorporate Finance and Organizations eJournal
-
M. Maung, Danny Miller, Zhenyang Tang, Xiaowei Xu (2020)
Value-Enhancing Social Responsibility: Market Reaction to Donations by Family vs. Non-family Firms with Religious CEOsJournal of Business Ethics, 163
-
R. Morck, B. Yeung, Daniel Wolfenzon (2004)
Corporate Governance, Economic Entrenchment and GrowthUniversity of Alberta School of Business Research Paper Series
-
Ronald Anderson, D. Reeb (2004)
Board Composition: Balancing Family Influence in S&P 500 FirmsAdministrative Science Quarterly, 49
-
David Deephouse (1999)
Media Reputation as a Strategic Resource: An Integration of Mass Communication and Resource-Based TheoriesJournal of Management, 26
-
Hung-bin Ding, Kuntara Pukthuanthong (2012)
Legitimacy Signals and Family IPO PerformancesERPN: Exits (Topic)
-
M. Sacristán-Navarro, S. Gómez‐Ansón, L. Cabeza‐García (2011)
Family Ownership and Control, the Presence of Other Large Shareholders, and Firm Performance: Further EvidenceFamily Business Review, 24
-
Priscilla Chu, Wai-sum Siu (2001)
Coping with the Asian economic crisis: the rightsizing strategies of small- and medium-sized enterprisesThe International Journal of Human Resource Management, 12
-
M. Fernández-Izquierdo, V. Aragó-Manzana, J. Matallín‐Sáez, L. Nieto-Soria (2009)
Do investors in Spain react to news on sustainability and corporate social responsibilityInternational Journal of Sustainable Economy, 1
-
James Westphal, E. Zajac (2001)
Decoupling Policy from Practice: The Case of Stock Repurchase ProgramsAdministrative Science Quarterly, 46
-
W. Tabor, James Chrisman, K. Madison, James Vardaman (2018)
Nonfamily Members in Family Firms: A Review and Future Research AgendaFamily Business Review, 31
-
Bindu Arya, Gaiyan Zhang (2009)
Institutional Reforms and Investor Reactions to CSR Announcements: Evidence from an Emerging EconomyCorporate Governance: Social Responsibility & Social Impact eJournal
-
K. Ehrhart, J. Ziegert (2005)
Why Are Individuals Attracted to Organizations?Journal of Management, 31
-
J. Kotlar, A. Signori, A. Massis, Silvio Vismara (2017)
Financial Wealth, Socioemotional Wealth, and IPO Underpricing in Family Firms: A Two-stage Gamble ModelAcademy of Management Journal
-
L. Gómez‐Mejía, Katalin Haynes, Manuel Núñez-Nickel, Kathy Jacobson, José Moyano-Fuentes (2007)
Socioemotional Wealth and Business Risks in Family-controlled Firms: Evidence from Spanish Olive Oil MillsAdministrative Science Quarterly, 52
-
Omar Nayal, J. Oosterhout, Marc Essen (2019)
Ties That Bind and Grind? Investor Reactions to Politician Appointments to Corporate BoardsJournal of Management, 47
-
Isabelle Breton-Miller, David Miller (2016)
Family firms and practices of sustainability: A contingency viewJournal of Family Business Strategy, 7
-
Emilie Feldman, R. Amit, Belén Villalonga (2016)
Corporate divestitures and family controlStrategic Management Journal, 37
-
A. Hillman, Gerald Keim (2001)
Shareholder value, stakeholder management, and social issues: what's the bottom line?Strategic Management Journal, 22
-
Dušan Isakov, Jean‐Philippe Weisskopf (2013)
Are Founding Families Special Blockholders? - An Investigation of Controlling Shareholder Influence on Firm PerformanceCorporate Governance: Actors & Players eJournal
-
Belén Villalonga, R. Amit (2004)
How Do Family Ownership, Control, and Management Affect Firm Value?Corporate Finance: Governance
-
Jörn Block, Christian Fisch, James Lau, M. Obschonka, A. Presse (2019)
How Do Labor Market Institutions Influence the Preference to Work in Family Firms? A Multilevel Analysis Across 40 CountriesEntrepreneurship Theory and Practice, 43
-
Ronald Mitchell, Bradley Agle, James Chrisman, L. Spence (2011)
Toward a Theory of Stakeholder Salience in Family Firms1Business Ethics Quarterly, 21
-
R. Gulati, Monica Higgins (2003)
Which ties matter when? the contingent effects of interorganizational partnerships on IPO successStrategic Management Journal, 24
-
R. Haas, N. Horen (2011)
Running for the Exit: International Banks and Crisis Transmission -
P. Duran, Nadine Kammerlander, M. Essen, T. Zellweger (2016)
Doing More with Less: Innovation Input and Output in Family FirmsAcademy of Management Journal, 59
-
G. Lumpkin, Keith Brigham (2011)
Long–Term Orientation and Intertemporal Choice in Family FirmsEntrepreneurship Theory and Practice, 35
-
M. Faccio, Larry Lang (2002)
The Ultimate Ownership of Western European CorporationsCorporate Finance: Governance
-
Victor Cui, Shujun Ding, Mingzhi Liu, Zhenyu Wu (2016)
Revisiting the Effect of Family Involvement on Corporate Social Responsibility: A Behavioral Agency PerspectiveJournal of Business Ethics, 152
-
R. Amit, Yuan Ding, Belén Villalonga, Hua Zhang (2015)
The role of institutional development in the prevalence and performance of entrepreneur and family-controlled firms☆Journal of Corporate Finance, 31
-
Robert Holthausen, R. Leftwich (1986)
The effect of bond rating changes on common stock pricesJournal of Financial Economics, 17
-
M. Richards, T. Zellweger, Jean‐Pascal Gond (2017)
Maintaining Moral Legitimacy Through Worlds and Words: An Explanation of Firms' Investment in Sustainability CertificationCSR & Management Practice eJournal
-
(2015)
An attention‐based view of family firm adaptation to Electronic copy available -
M. Saleh, Norhayah Zulkifli, R. Muhamad (2010)
Corporate social responsibility disclosure and its relation on institutional ownership: Evidence from public listed companies in MalaysiaManagerial Auditing Journal, 25
-
Oliver Falck, Stephan Heblich (2007)
Corporate social responsibility: Doing well by doing goodBusiness Horizons, 50
-
Guy Fernando, R. Schneible, Sang-Hyun Suh (2014)
Family Firms and Institutional InvestorsFamily Business Review, 27
-
Grigoris Giannarakis, Ioannis Theotokas (2011)
The Effect of Financial Crisis in Corporate Social Responsibility PerformanceInternational Journal of Marketing Studies, 3
-
Ronald Anderson, D. Reeb (2003)
Founding-Family Ownership and Firm Performance: Evidence from the S&P 500Journal of Finance, 58
-
Jeffrey Chandler, G. Payne, C. Moore, Keith Brigham (2019)
Family involvement signals in initial public offeringsJournal of Family Business Strategy
-
Carole Howorth, N. Robinson (2020)
Family firmsFamily Business
-
J. Davis, F. Schoorman, L. Donaldson (1997)
TOWARD A STEWARDSHIP THEORY OF MANAGEMENTAcademy of Management Review, 22
-
R. Tagiuri, J. Davis (1992)
On the Goals of Successful Family CompaniesFamily Business Review, 5
-
Wann‐Yih Wu, Ying‐Jiuan Wong (2010)
Family Control and Stock Market Reactions to Innovation AnnouncementsO&M: Decision-Making in Organizations eJournal
-
Diane Arijs, Isabel Botero, Anneleen Michiels, Vincent Molly (2018)
Family business employer brand: Understanding applicants’ perceptions and their job pursuit intentions with samples from the US and BelgiumJournal of Family Business Strategy
-
Caroline Flammer, Jiao Luo (2017)
Corporate social responsibility as an employee governance tool: Evidence from a quasi-experiment: CSR as an Employee Governance ToolSouthern Medical Journal, 38
-
Alfred Warner, J. Fairbank, H. Steensma (2006)
Managing Uncertainty in a Formal Standards-Based Industry: A Real Options Perspective on Acquisition TimingJournal of Management, 32
-
(2007)
Handbook of Empirical Corporate Finance -
T. Zellweger, F. Kellermanns, James Chrisman, J. Chua (2012)
Family Control and Family Firm Valuation by Family CEOs: The Importance of Intentions for Transgenerational ControlOrgan. Sci., 23
-
D. Sraer, D. Thesmar (2006)
Performance and Behavior of Family Firms: Evidence from the French Stock MarketIO: Empirical Studies of Firms & Markets eJournal
-
Danny Miller, Isabelle Breton-Miller (2005)
Managing For The Long Run: Lessons In Competitive Advantage From Great Family Businesses -
Philipp Krueger (2014)
Corporate Goodness and Shareholder WealthCorporate Governance & Finance eJournal
-
Emilia Garcia-Appendini, Judit Montoriol-Garriga (2013)
Firms as liquidity providers: Evidence from the 2007–2008 financial crisisJournal of Financial Economics, 109
-
A. König, Nadine Kammerlander, Albrecht Enders (2013)
The Family Innovator's Dilemma: How Family Influence Affects the Adoption of Discontinuous Technologies by Incumbent FirmsAcademy of Management Review, 38
-
Simon Johnson, Peter Boone, A. Breach, E. Friedman (2000)
Corporate Governance in the Asian Financial CrisisJournal of Financial Economics, 58
-
María Déniz, M. Suárez (2005)
Corporate Social Responsibility and Family Business in SpainJournal of Business Ethics, 56
-
Markus Kempers, Max Leitterstorf, Nadine Kammerlander (2018)
Risk Behavior of Family Firms: A Literature Review, Framework, and Research AgendaThe Palgrave Handbook of Heterogeneity among Family Firms
-
Donald Neubaum, Nadine Kammerlander, Keith Brigham (2019)
Capturing Family Firm Heterogeneity: How Taxonomies and Typologies Can Help the Field Move ForwardFamily Business Review, 32
-
Ronald Anderson, Augustine Duru, D. Reeb (2009)
Founders, heirs, and corporate opacity in the United StatesJournal of Financial Economics, 92
-
M. Malik (2013)
Value-Enhancing Capabilities of CSR: A Brief Review of Contemporary LiteratureJournal of Business Ethics, 127
-
L. Zacharias, F. Easterbrook, D. Fischel (1993)
The Economic Structure of Corporate LawBusiness History Review, 67
-
J. Chua, James Chrisman, L. Steier, Sabine Rau (2012)
Sources of Heterogeneity in Family Firms: An IntroductionEntrepreneurship Theory and Practice, 36
-
T. Hubbard, Dane Christensen, Scott Graffin (2017)
Higher Highs and Lower Lows: The Role of Corporate Social Responsibility in CEO DismissalSouthern Medical Journal, 38
-
S. Certo (2003)
Influencing Initial Public Offering Investors with Prestige: Signaling with Board StructuresAcademy of Management Review, 28
-
David Sirmon, M. Hitt (2003)
Managing Resources: Linking Unique Resources, Management, and Wealth Creation in Family FirmsEntrepreneurship Theory and Practice, 27
-
Marc Orlitzky, F. Schmidt, S. Rynes (2003)
Corporate Social and Financial Performance: A Meta-AnalysisOrganization Studies, 24
-
Lois Mahoney, L. Thorne, Lianna Cecil, William LaGore (2013)
A research note on standalone corporate social responsibility reports: Signaling or greenwashing?Critical Perspectives on Accounting, 24
- Publisher
- SAGE
- Copyright
- Copyright © 2022 by SAGE Publications
- ISSN
- 0363-9428
- eISSN
- 1540-6520
- DOI
- 10.1177/10422587211010498
- Publisher site
- See Article on Publisher Site
Abstract
We study family firm status as an important condition in signaling theory; specifically, we propose that the market reacts more positively to positive, and more negatively to negative, CSR news (i.e., signals) from family firms than to similar news from nonfamily firms. Moreover, we propose that during recessions, the direction of these relationships reverses. Based on an event study of 1247 positive and negative changes in the CSR ratings for all firms listed on the French SFB120 stock market index (2003-2013), we find support for our hypotheses. Moreover, a post hoc analysis reveals that the relationships are contingent on whether a family CEO leads the firm.
Journal
American Journal of Small Business – SAGE
Published: Apr 28, 2021
Keywords: family firms; signaling theory; corporate social responsibility; market reaction; recession; family CEO