The power of the people: labor unions and corporate social responsibility

被引:2
作者
Heitz, Amanda [1 ]
Wang, Youan [2 ]
Wang, Zigan [3 ,4 ]
机构
[1] Tulane Univ, Dept Finance, New Orleans, LA 70118 USA
[2] Xiamen Univ, Wang Yanan Inst Studies Econ, Key Lab Econometr, MOE, Fujian, Peoples R China
[3] Tsinghua Univ, Shenzhen Int Grad Sch, Beijing, Peoples R China
[4] Tsinghua Univ, Sch Econ & Management, Beijing, Peoples R China
关键词
labor union; elections; corporate social responsibility; J51; D73; M14; REGRESSION DISCONTINUITY DESIGN; GOVERNANCE; REPRESENTATION; UNIONIZATION; MANIPULATION; STRIKES; IMPACTS; COST;
D O I
10.1093/rof/rfae018
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
Many policymakers and practitioners argue that corporations may become more stakeholder focused if employees are given more power. We study the causal impact of unionization on stakeholders by analyzing how close labor union elections affect environmental and social (E&S) scores. We find that unionization is associated with an increase in internal social scores that primarily benefit employees and a decrease in external E&S scores that primarily benefit non-employees. The negative effects on external E&S are amplified when firms have greater financial constraints. The effects on both internal and external E&S are magnified when labor unions have more bargaining power. Our results suggest that policymakers consider implications for all stakeholders before implementing policies that prioritize the corporate influence of one stakeholder group.
引用
收藏
页码:1833 / 1879
页数:48
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