Substitution Between Corporate Social Responsibility Activities: Evidence from Hiring and Mistreating Unauthorized Workers and Pollution

References

• Akey P, Appel I (2019) Environmental externalities of activism. Working paper, University of Toronto, Toronto.Google Scholar
• Akey P, Appel I (2021) The limits of limited liability: Evidence from industrial pollution. J. Finance 76(1):5–55.Crossref, Google Scholar
• Amuedo-Dorantes C, Bansak C (2012) The labor market impact of mandated employment verification systems. Amer. Econom. Rev. 102(3):543–548.Crossref, Google Scholar
• Amuedo-Dorantes C, Bansak C (2014) Employment verification mandates and the labor market outcomes of likely unauthorized and native workers. Contemporary Econom. Policy 32(3):671–680.Crossref, Google Scholar
• Autor D (2003) Outsourcing at will: The contribution of unjust dismissal doctrine to the growth of employment outsourcing. J. Labor Econom. 21(1):1–42.Crossref, Google Scholar
• Ayón C, Gurrola M, Salas LM, Androff D, Krysik J (2012) Intended and unintended consequences of the employer sanction law on Latino families. Qualitative Soc. Work 11(6):587–603.Crossref, Google Scholar
• Baker A, Larcker D, Wang C (2022) How much should we trust staggered difference-in-differences estimates? J. Financial Econom. 144(2):370–395.Crossref, Google Scholar
• Baron D (2001) Private politics, corporate social responsibility, and integrated strategy. J. Econom. Management Strategy 10(1):7–45.Crossref, Google Scholar
• Becker G, Murphy K (1993) A simple theory of advertising as a good or bad. Quart. J. Econom. 108(4):941–964.Crossref, Google Scholar
• Bertrand M, Mullainathan S (2003) Enjoying the quiet life? Corporate governance and managerial preferences. J. Political Econom. 111(5):1043–1075.Crossref, Google Scholar
• Bohn S, Lofstrom M, Raphael S (2014) Did the 2007 Legal Arizona Workers Act reduce the state’s unauthorized immigrant population? Rev. Econom. Statist. 96(2):258–269.Crossref, Google Scholar
• Bohn S, Lofstrom M, Raphael S (2015) Do E-Verify mandates improve labor market outcomes of low-skilled native and legal immigrant workers? Southern Econom. J. 81(4):960–979.Crossref, Google Scholar
• Bourveau T, Lou Y, Wang R (2018) Shareholder litigation and corporate disclosure: Evidence from derivative lawsuits. J. Accounting Res. 56(3):797–842.Crossref, Google Scholar
• Call AC, Campbell JL, Dhaliwal DS, Moon JR Jr (2017) Employee quality and financial reporting outcomes. J. Accounting Econom. 64(1):123–149.Crossref, Google Scholar
• Callaway B, Sant’Anna P (2021) Difference-in-differences with multiple time periods. J. Econometrics 225(2):200–230.Crossref, Google Scholar
• Caskey J, Ozel NB (2017) Earnings expectations and employee safety. J. Accounting Econom. 63(1):121–141.Crossref, Google Scholar
• Chatterji A, Levine D, Toffel M (2009) How well do social ratings actually measure corporate social responsibility? J. Econom. Management Strategy 18(1):125–169.Crossref, Google Scholar
• Choi S, Park R, Xu S (2023) Every emission you create—Every dollar you’ll donate: The effect of regulation-induced pollution on corporate philanthropy. Working paper, Queensland University of Technology, Brisbane, Australia.Google Scholar
• Christensen H, Hail L, Leuz C (2021) Mandatory CSR and sustainability reporting: Economic analysis and literature review. Rev. Accounting Stud. 26:1176–1248.Crossref, Google Scholar
• Cohen D, Dey A, Lys T (2008) Real and accrual-based earnings management in the pre- and post-Sarbanes-Oxley periods. Accounting Rev. 83(3):757–787.Crossref, Google Scholar
• Cohn J, Deryugina T (2018) Firm-level financial resources and environmental spills. Working paper, University of Texas at Austin, Austin, TX.Google Scholar
• Cronqvist H, Yu F (2017) Shaped by their daughters: Executives, female socialization, and corporate social responsibility. J. Financial Econom. 126(3):543–562.Crossref, Google Scholar
• Dai R, Liang HH, Ng L (2021) Socially responsible corporate customers. J. Financial Econom. 142(2):598–626.Crossref, Google Scholar
• Davis A, Guenther D, Krull L, Williams B (2016) Do socially responsible firms pay more taxes? Accounting Rev. 91(1):47–68.Crossref, Google Scholar
• Dimson E, Karakaş O, Li X (2015) Active ownership. Rev. Financial Stud. 28(12):3225–3268.Crossref, Google Scholar
• Dowell G, Hart S, Yeung B (2000) Do corporate global environmental standards create or destroy market value? Management Sci. 46(8):1059–1074.Link, Google Scholar
• Doyle JT, Jennings JN, Soliman MT (2013) Do managers define non-GAAP earnings to meet or beat analyst forecasts? J. Accounting Econom. 56(1):40–56.Crossref, Google Scholar
• Edmans A (2012) The link between job satisfaction and firm value, with implications for corporate social responsibility. Acad. Management Perspect. 26(4):1–19.Crossref, Google Scholar
• Fick B (2014) Corporate social responsibility for enforcement of labor rights: Are there more effective alternatives. Global Bus. Law Rev. 4(2):1–25.Google Scholar
• Garcia Quijano J (2020) Workplace discrimination and undocumented first-generation Latinx immigrants. Advocates’ Forum, University of Chicago, Chicago, IL. Google Scholar
• Gibson M (2019) Regulation-induced pollution substitution. Rev. Econom. Statist. 101(5):827–840.Crossref, Google Scholar
• Goetz M (2019) Financial constraints and environmental corporate social responsibility. Working paper, Goethe University Frankfurt, Frankfurt, Germany.Google Scholar
• Gormley T, Matsa D (2011) Growing out of trouble? Corporate responses to liability risk. Rev. Financial Stud. 24(8):2781–2821.Crossref, Google Scholar
• Green E (2014) Undocumented immigrants still mistreated by employers despite new laws. KQED News (September 8), https://www.kqed.org/news/146984/undocumented-immigrants-still-mistreated-by-employers-despite-new-laws.Google Scholar
• Hadlock C, Pierce J (2010) New evidence on measuring financial constraints: Moving beyond the KZ index. Rev. Financial Stud. 23(5):1909–1940.Crossref, Google Scholar
• Hanna R, Oliva P (2015) The effect of pollution on labor supply: Evidence from a natural experiment in Mexico City. J. Public Econom. 122:68–79.Crossref, Google Scholar
• Huang Y, Li N, Yong Y, Zhou X (2020) The effect of managerial litigation risk on earnings warnings: Evidence from a natural experiment. J. Accounting Res. 58(5):1161–1202.Crossref, Google Scholar
• Joseph T (2011) “My life was filled with constant anxiety”: Anti-immigrant discrimination, undocumented status, and their mental health implications for Brazilian immigrants. Race Soc. Problems 3(3):170–181.Crossref, Google Scholar
• Kaplan S, Zingales L (1997) Do investment-cash flow sensitivities provide useful measures of financing constraints? Quart. J. Econom. 112(1):169–216.Crossref, Google Scholar
• Kerth R, Vinyard S (2012) Wasting our waterways 2012: Toxic industrial pollution and the unfulfilled promise of the Clean Water Act. Report, Environment America, Research & Policy Center, Denver, CO.Google Scholar
• Kidd D (2011) E-Verify: Promoting accountability and transparency in federal procurement through electronic employment verification. Public Contract Law J. 40(3):829–849.Google Scholar
• Kitzmueller M, Shimshack J (2012) Economic perspectives on corporate social responsibility. J. Econom. Literature 50(1):51–84.Crossref, Google Scholar
• Klasa S, Ortiz-Molina H, Serfling M, Srinivasan S (2018) Protection of trade secrets and capital structure decisions. J. Financial Econom. 128(2):266–286.Crossref, Google Scholar
• Krogstad J, Passel J, Cohn D (2019) 5 facts about illegal immigration in the U.S. Report, Pew Research Center, Washington, DC.Google Scholar
• Lee J (2018) Redefining the legality of undocumented work. California Law Rev. 106(5):1617–1656.Google Scholar
• Liang H, Renneboog L (2017) On the foundations of corporate social responsibility. J. Finance 72(2):853–910.Crossref, Google Scholar
• Liu Z, Shen H, Welker M, Zhang N, Zhao Y (2021) Gone with the wind: An externality of earnings pressure. J. Accounting Econom. 72(1):101403.Crossref, Google Scholar
• Magill M, Quinzii M, Rochet J (2015) A theory of the stakeholder corporation. Econometrica 83(5):1685–1725.Crossref, Google Scholar
• McWilliams A, Siegel D (2001) Corporate social responsibility: A theory of firm perspective. Acad. Management Rev. 26(1):117–127.Crossref, Google Scholar
• Mehta C, Theodore N, Mora I, Wade J (2002) Chicago’s undocumented immigrants: An analysis of wages, working conditions, and economic contributions. Report, Center for Urban Economic Development, University of Illinois at Chicago, Chicago.Google Scholar
• Mir A (2022) 22 most charitable companies in 2022. https://www.yahoo.com/now/22-most-charitable-companies-2022-163953597.html?Google Scholar
• Orrenius P, Zavodny M (2009) Do immigrants work in riskier jobs? Demography 46(3):535–551.Crossref, Google Scholar
• Orrenius P, Zavodny M (2016) Do state work eligibility verification laws reduce unauthorized immigration? IZA J. Migration 5:5.Crossref, Google Scholar
• Orrenius P, Zavodny M (2017) Digital enforcement: Effects of E-Verify on unauthorized immigrant employment and population. Report, Federal Reserve Bank of Dallas, Dallas, TX.Google Scholar
• Passel J, Cohn D (2015) U.S. share of unauthorized immigrant workers in production, construction jobs falls since 2007: In states, hospitality, manufacturing and construction are top industries. Report, Pew Research Center, Washington, DC.Google Scholar
• Passel J, Cohn D (2018) U.S. unauthorized immigrant total dip to lowest level in a decade. Report, Pew Research Center, Washington, DC.Google Scholar
• Plumer B (2013a) Congress tried to fix immigration back in 1986. Why did it fail? Washington Post (January 30), https://www.washingtonpost.com/news/wonk/wp/2013/01/30/in-1986-congress-tried-to-solve-immigration-why-didnt-it-work/.Google Scholar
• Plumer B (2013b) Graph of the day: Illegal immigration has slowed since 2007. Washington Post (January 28), https://www.washingtonpost.com/news/wonk/wp/2013/01/28/graph-of-the-day-illegal-immigration-has-dropped-sharply-since-2007/.Google Scholar
• Raphael S, Ronconi L (2009) The labor market impact of state-level immigration legislation targeted at unauthorized immigrants. Working paper, University of California, Berkeley, CA.Google Scholar
• Reinhardt F, Stavins R, Vietor R (2008) Corporate social responsibility through economic lens. Rev. Environ. Econom. Policy 2(2):219–239.Crossref, Google Scholar
• Shive S, Forster M (2020) Corporate governance and pollution externalities of public and private firms. Rev. Financial Stud. 33(3):1296–1330.Crossref, Google Scholar
• Starks L (2023) Presidential address: Sustainable finance and ESG issues—Value versus values. J. Finance 78(4):1837–1872.Crossref, Google Scholar
• Thomas J, Yao W, Zhang F, Zhu W (2022) Meet, beat, and pollute. Rev. Accounting Stud. 27:1038–1078. Crossref, Google Scholar
• Wang H, Tong L, Takeuchi R, George G (2016) Corporate social responsibility: An overview and new research directions. Acad. Management J. 59(2):534–544.Crossref, Google Scholar
• Wartick S, Cochran P (1985) The evolution of the corporate social performance model. Acad. Management Rev. 10(4):758–769.Crossref, Google Scholar
• Whited T, Wu G (2006) Financial constraints risk. Rev. Financial Stud. 19(2):531–559.Crossref, Google Scholar
• Wood D (1991) Social issues in management: Theory and research in corporate social performance. J. Management 17(2):383–406.Google Scholar
• Xu Q, Kim T (2022) Financial constraints and corporate environmental policies. Rev. Financial Stud. 35(2):576–635. Crossref, Google Scholar
• Zivin J, Neidell M (2012) The impact of pollution on worker productivity. Amer. Econom. Rev. 102(7):3652–3673. Crossref, Google Scholar