Substitution Between Corporate Social Responsibility Activities: Evidence from Hiring and Mistreating Unauthorized Workers and Pollution
研究发现，美国各州逐步实施的E-Verify强制令减少了企业雇佣无证工人及其相关虐待行为，但导致工厂层面污染增加，表明企业社会责任投资之间存在替代效应。
We argue substitution can exist among corporate social responsibility (CSR) investments, and exogenously increasing one CSR investment could lead to a decrease in another CSR investment. We provide evidence using the U.S. states’ staggered adoptions of E-Verify mandates, which curtail a labor-related social bad by reducing the hiring of unauthorized workers and related workplace abuses. We find the mandate leads to an increase in plant-level pollution, an environmental social bad, and the effect is stronger when the mandate applies to more employers, for plants in states with more unauthorized workers in the labor force, and for plants with jobs that are inherently more hazardous. This paper was accepted by Suraj Srinivasan, accounting. Funding: This work was supported by the Hong Kong Research Grants Council [Project 24502422]. Supplemental Material: The internet appendix and data files are available at https://doi.org/10.1287/mnsc.2022.02310 .