题 目：Determinants and Consequences of Voluntary Corporate Social Responsibility Disclosure: Evidence from Private Firms
报告人：郑 祯 助理教授
主持人：张国清 教授
时 间：2018年11月20日（星期二），15:00-17:30
地 点：嘉庚二203室
论文摘要：We examine whether and how private firms differ from public firms in determining corporate social responsibility (CSR) disclosure policies. We document that private firms are less likely to issue CSR reports compared with their public peers. This effect is mainly driven by a supply-side force rather than a demand-side force. From a debtholder-oriented perspective, while public firms enjoy more favorable credit ratings and a lower cost of debt due to CSR disclosure, private firms do not reap similar benefits from CSR disclosure.