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“Crowd contamination”?
(2023)
Misconduct allegations have been found to not only affect the alleged firm but also other, unalleged firms in form of reputational and financial spillover effects. It has remained unexplored, however, how the number of prior allegations against other firms matters for an individual firm currently facing an allegation. Building on behavioral decision theory, we argue that the relationship between allegation prevalence among other firms and investor reaction to a focal allegation is inverted U-shaped. The inverted U-shaped effect is theorized to emerge from the combination of two effects: In the absence of prior allegations against other firms, investors fail to anticipate the focal allegation, and hence react particularly negatively (“anticipation effect”). In the case of many prior allegations against other firms, investors also react particularly negatively because investors perceive the focal allegation as more warranted (“evaluation effect”). The multi-industry, empirical analysis of 8,802 misconduct allegations against US firms between 2007 and 2017 provides support for our predicted, inverted U-shaped effect. Our study complements recent misconduct research on spillover effects by highlighting that not only a current allegation against an individual firm can “contaminate” other, unalleged firms but that also prior allegations against other firms can “contaminate” investor reaction to a focal allegation against an individual firm.
Misbehave like Nobody’s Watching? Investor Attention to Corporate Misconduct and its Implications
(2023)
Regarding moral concerns in the business sphere, integrity is often mentioned as one of the core values that guides the behavior of companies. Daimler for instance states: “Acting with integrity is the central requirement for sustainable success and a maxim that Daimler follows in its worldwide business practices.”1 Reference to integrity is mostly supposed to signal that the company acts morally responsibly. Although some companies specify what acting with integrity means for them, it generally remains unclear what the concept of integrity entails – both broadly speaking and referring to business. This conceptual gap shall be filled by developing a concept of integrity that can be transferred to the business context. For this purpose, the main criteria that constitute moral integrity will be discussed before reflecting on how these could be integrated into a practical and comprehensive concept of corporate integrity.
CSR Pyramid
(2023)
SDG Voyager - A practical guide to align business excellence with Sustainable Development Goals
(2018)
By now, an inflationary high number of international publications on the topic “Agenda 2030” exist. But unanswered to this day seems to be the question of how the CSR-management of a company can make a concrete contribution to the SDGs. Instead of unilaterally demanding the reporting of companies’ sustainability activities, the SDG Voyager starts earlier in the process with the intention of encouraging companies of all sizes to become familiar with the fields of action for corporate responsibility and to attend to these issues without feeling overwhelmed. Many companies will find that they are already making a big contribution to sustainable development in a number of fields. In other areas, however, there will still be an urgent need for action. The SDG Voyager aims to acquaint companies with these topics and support them to fulfill their responsibilities towards their stakeholders and society.