Corporate social responsibility culture and international M&As
نویسندگان
چکیده
We examine the role of corporate culture in M&As by utilizing a unique social responsibility (CSR) dataset, providing in-depth information on multiple dimensions organizational 22 developed markets. In accordance with prediction clash theory, wider divergence between CSR cultures acquiring and target firms is associated lower acquirer announcement long-run returns as well synergistic gains for combined firm. Cultural misalignment also increases time required to finalise deal, reduces likelihood deal completion percentage stock payment. Our results are robust alternative explanations (e.g., similarities national culture, performance, institutional configurations), different regression specifications, additional cultural measures. findings highlight importance need deeper understanding selection process, integration planning, financing choice corporations their investors.
منابع مشابه
Diagnosing the Corporate Social Responsibility Culture
The contemporary business environment places demands on companies to go beyond economic survival and self-interest and satisfy the needs of various stakeholders. Organizations embark on the path of responsibility and sustainability, but many argue that CSR becomes embedded in an organization when it permeates all aspects of organization, including the organizational culture. Existing organizati...
متن کاملCorporate Social Responsibility for International Business
The recent proliferation of corporate social responsibility (CSR) codes and standards has been matched only by the boom in writings on the subject. This paper will focus mainly on the interaction between these codes and formal legal requirements, at national and international levels. It starts from the perspective that the recent spate of voluntary corporate codes for TNCs must be understood in...
متن کاملIndividual and Corporate Social Responsibility
Individual and Corporate Social Responsibility Society’s demands for individual and corporate social responsibility as an alternative response to market and distributive failures are becoming increasingly prominent. We first draw on recent developments in the “psychology and economics” of prosocial behavior to shed light on this trend, which reflects a complex interplay of genuine altruism, soc...
متن کاملEthics and Corporate Social Responsibility
The ethics we find in companies contains the same elements as the ethics in the socio-economic context in which they operate. The aspirations and ethical levels of companies operating in certain countries differ substantially from those of companies operating in other areas, where the defence of the environment, social welfare, human rights, cooperation, assistance are expected and offered to a...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: British Accounting Review
سال: 2022
ISSN: ['0890-8389', '1095-8347']
DOI: https://doi.org/10.1016/j.bar.2021.101035