Firms’ earnings smoothing, corporate social responsibility, and valuation

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Corporate Social Performance and Firm Performance: Comparative Study among Developed and Emerging Market Firms (2019, result): “However, the result contradicted with [102] who highlighted that a high CSR may experience a high contemporaneous earnings–return relationship and great Tobin’s Q.”
Corporate social responsibility and M&A uncertainty (2019, unknown): “CSR impacts the market value of firms (Buchanan et al., 2018; Fauver et al., 2018; Ferrell et al., 2016; Gao and Zhang, 2015; Jiao, 2010; Lins et al., 2017; Servaes and Tamayo, 2013), the cost of capital (El Ghoul et al.”
Firms and social responsibility: A review of ESG and CSR research in corporate finance (2021, background): “relations, environment and product, omitting human rights), Gao and Zhang (2015) find a positive correlation between firm-level ESG/CSR scores and Tobin’s q. Also focusing on Tobin’s q, Ferrell, Liang, and Renneboog (2016) find a positive relationship between ESG/CSR scores and firm value, and exten”