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首页> 外文期刊>Journal of Business Research >Corporate social irresponsibility and boards: The implications of legal expertise
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Corporate social irresponsibility and boards: The implications of legal expertise

机译：企业社会不负责任和董事会：法律专业知识的影响

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摘要

In this study, we examine whether Corporate Social Irresponsibility (CSIR) affects the appointment of directors with legal expertise on the board and whether the presence of legal directors has implications for the CSIR-stock return relationship. Using a large sample of publicly traded U.S. firms, we find that firms involved more in CSIR have more directors with legal expertise on the board in subsequent years. Our additional tests suggest that this relationship is not driven by omitted variables or reverse causality. We further find that board legal expertise helps to mitigate the negative stock performance arising from CSIR. Overall, our findings suggest that boards with legal expertise are better able to respond to CSIR and mitigate its damage.
机译：在这项研究中，我们研究了公司社会不负责任（CSIR）是否影响董事会委任董事，以及法律董事是否存在对CSIR股票回报关系有影响。使用大型公开交易美国公司的样本，我们发现涉及更多的CSIR的公司在随后几年内有更多董事会在董事会上具有法律专业知识。我们的额外测试表明，这种关系不会被遗漏变量或反向因果关系驱动。我们进一步发现董事会法律专业知识有助于减轻CSIR所产生的负面股票表现。总体而言，我们的研究结果表明，具有法律专业知识的董事会更能够对CSIR作出反应并减轻其损害。

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