Can socially responsible firms survive competition? An analysis of corporate employee matching grant schemes

Gong, Ning and Grundy, Bruce D 2017, Can socially responsible firms survive competition? An analysis of corporate employee matching grant schemes, Review of finance, pp. 1-45, doi: 10.1093/rof/rfx025.

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Title Can socially responsible firms survive competition? An analysis of corporate employee matching grant schemes
Author(s) Gong, NingORCID iD for Gong, Ning orcid.org/0000-0001-6454-7572
Grundy, Bruce D
Journal name Review of finance
Start page 1
End page 45
Total pages 45
Publisher Oxford University Press
Place of publication Oxford, Eng.
Publication date 2017-06-07
ISSN 1572-3097
1573-692X
Keyword(s) employee matching grants
corporate social responsibility
Summary Employee matching grant schemes are coordination mechanisms that reduce free-riding by socially conscious employee-donors. Matching schemes coupled with lower take-home pay than offered by non-matching firms will survive capital and labor market competition if employee type is not observable and socially conscious employees are more productive or value working together. Matching can enhance employee welfare and raise more for charity without reducing profits. We document that matching firms have higher labor productivity and are more likely to be ranked as one of the “100 Best” employers. The result is robust to managerial entrenchment concerns and is not confined to the high-tech sector.
Notes In press
Language eng
DOI 10.1093/rof/rfx025
Field of Research 1501 Accounting, Auditing And Accountability
1502 Banking, Finance And Investment
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2017, The Authors
Persistent URL http://hdl.handle.net/10536/DRO/DU:30106783

Document type: Journal Article
Collection: Department of Finance
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