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dc.contributor.authorBouslah, Kais
dc.contributor.authorKryzanowski, Lawrence
dc.contributor.authorM'Zali, Bouchra
dc.date.accessioned2016-02-16T17:10:09Z
dc.date.available2016-02-16T17:10:09Z
dc.date.issued2018-05
dc.identifier240544264
dc.identifier1563690d-7825-4d75-8b61-03e04d908511
dc.identifier84957636446
dc.identifier000432522400007
dc.identifier.citationBouslah , K , Kryzanowski , L & M'Zali , B 2018 , ' Social performance and firm risk : impact of the financial crisis ' , Journal of Business Ethics , vol. 149 , no. 3 , pp. 643-669 . https://doi.org/10.1007/s10551-016-3017-xen
dc.identifier.issn0167-4544
dc.identifier.otherORCID: /0000-0001-8407-8929/work/82179588
dc.identifier.urihttps://hdl.handle.net/10023/8244
dc.descriptionBouslah and M’Zali gratefully acknowledge support for this research from the Social Sciences and Humanities Research Council of Canada (SSHRC). Kryzanowski gratefully acknowledges support from the Senior Concordia University Research Chair in Finance, IFM2 and SSHRC. We are also grateful to Robert Sheitoyan Foundation for its support.en
dc.description.abstractThis paper examines the impact of the recent financial crisis (2008–2009) on the relation between a firm’s risk and social performance (SP) using a sample of non-financial U.S. firms covering the period 1991–2012. We find that the relation between SP and risk is significantly different in the crisis period (post-crisis period) compared to the pre-crisis period. SP reduces volatility during the financial crisis. The risk reduction potential of SP is mainly due to the strengths component of SP. Since the relation of risk is stronger with SP strengths than SP concerns, this implies an asymmetric relation between these SP components and a firm’s risk. Specifically, strengths act as a risk reduction tool during an adverse economic environment.
dc.format.extent27
dc.format.extent615644
dc.language.isoeng
dc.relation.ispartofJournal of Business Ethicsen
dc.subjectFinancial crisisen
dc.subjectVolatilityen
dc.subjectIdiosyncratic risken
dc.subjectSocial performanceen
dc.subjectStrengthsen
dc.subjectConcernsen
dc.subjectBJ Ethicsen
dc.subjectHB Economic Theoryen
dc.subjectHD61 Risk Managementen
dc.subjectHG Financeen
dc.subject3rd-NDASen
dc.subjectBDCen
dc.subject.lccBJen
dc.subject.lccHBen
dc.subject.lccHD61en
dc.subject.lccHGen
dc.titleSocial performance and firm risk : impact of the financial crisisen
dc.typeJournal articleen
dc.contributor.institutionUniversity of St Andrews. Centre for the Study of Philanthropy & Public Gooden
dc.contributor.institutionUniversity of St Andrews. Centre for Responsible Banking and Financeen
dc.contributor.institutionUniversity of St Andrews. School of Managementen
dc.identifier.doihttps://doi.org/10.1007/s10551-016-3017-x
dc.description.statusPeer revieweden


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