In short, it depends on the ownership type. We construct an event-based outcome measure of firm-level environmental, social, and governance (ESG) impact for public and private firms globally from 2007 to 2015 using data from RepRisk. Then, we measure the societal impact of corporate social responsibility (CSR) engagements using participation in the United Nations Global Compact as a proxy. We d...

The net neutrality norm generates wealth transfers from one type of internet content provider to another. In theory, these transfers might be socially desirable, and could be justified on the basis of informational externalities similar to those that have been identified to justify the fair use doctrine in copyright law. However, in practice, the conditions that justify fair use in the copyrigh...

Cost-benefit analysis is a process for evaluating the merits of a particular project or course of action in a systematic and rigorous way. Social cost-benefit analysis refers to cases where the project has a broad impact across society – and, as such, is usually carried out by the government. While the cost and benefits may relate to goods and services that have a simple and transparent measure...