时间：2014年11月14日（周五）14:30-16：00
地点：嘉庚二号楼501教室
主持人：Ji Wu, Assistant Professor of Finance, IFAS
题目：To Be Special, To Be Responsible: How Product Specificity Affects Corporate Social Responsibility
报告人：申睿，南洋理工大学会计学助理教授，在Accounting Review等国际顶级期刊上发表若干论文
论文摘要：
This study examines the relationship between a firm’s product specificity and its CSR activities. We argue that because those firms that are producing specialized products face higher transaction costs with their stakeholders, such firms are more incentivized to engage in CSR activities, which can help reduce the involved transaction costs. As CSR is endogenous to a firm’s product strategy, we adopt an instrumental variable (IV) approach. With a sample of 2,198 U.S. publicly-listed firms for the period of 2001–2010, we find that firms producing specialized products record a higher level of CSR; this effect is stronger for firms with higher financial leverage and operating in more uncertain industries. In addition, firms producing specialized products garner more financial benefits from CSR activities.