Managing Capital Market Reactions to Corporate Social Resposibility
构建了一个模型，解释企业社会责任行为及其信息披露如何影响资本市场反应、公司现金流和投资者折现率，并基于此回顾文献、指出研究空白。
We develop a model of the process linking corporate social responsibility to capital market responses. The model recognizes that corporate social responsibility behaviours and the disclosure of information about those behaviours can impact on capital market processes, have cash flow consequences for the firm and affect the discount rate used by investors to value that stream of cash flows. We use this model to review the literature on this relationship and to identify continuing gaps in our knowledge.