Why Activist Hedge Funds Target Socially Responsible Firms: The Reaction Costs of Signaling Corporate Social Responsibility

By Mark R. DesJardine, Emilio Marti, Rodolphe Durand. 2020

167 citations recorded by the source corpus.

In this paper, we develop and test a theory of how unintended audiences create reaction costs for firms that use corporate social responsibility (CSR) as a signal. Reaction costs are costs that sig...

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/cb0d57d07717d41899ccc1d1a78ff543c0fc9b12