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Integrating corporate social responsibility criteria into executive compensation and firm innovation: International evidence

Tsang, Albert; Wang, Tracy; Liu, Simeng; Yu, Li


Using a large sample of firms from 30 countries, we find that the integration of corporate social responsibility (CSR) criteria into executive compensation is associated with greater innovation output in countries around the world. We also find that this positive association is stronger in countries with weak stakeholder orientation, countries with weak legal environments, and countries without mandatory CSR reporting requirements. These findings suggest that CSR con-tracting can compensate for...[Show more]

CollectionsANU Research Publications
Date published: 2021-10
Type: Journal article
Source: Journal of Corporate Finance
DOI: 10.1016/j.jcorpfin.2021.102070
Access Rights: Open Access after embargo


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