This study examines the role of the Corporate Social Responsibility Committee (CSRC) in the adoption of strategic Corporate Social Responsibility (CSR) projects that surpass regulatory requirements and basic stakeholder expectations. Our results demonstrate that the establishment of CSRCs enhances all strategic CSR mechanisms, particularly business reputation, stakeholder interaction, risk mitigation, and innovation. Additionally, strategic CSR practices exhibit a strong correlation with CSRC attributes and organizational characteristics. Specifically, the size of the CSRC is positively associated with all dimensions of strategic CSR. Furthermore, CEO membership is likely to impede risk mitigation and innovation capacity, whereas board chair membership enhances business reputation, stakeholder communication, and innovation potential. In terms of gender diversity, female CSRC members show a greater concern for business reputation and associated risks. Regarding committee functioning, increased meeting frequency has the potential to enhance various aspects of strategic CSR.
{"title":"What drives strategic Corporate Social Responsibility?","authors":"Rania Béji, O. Yousfi","doi":"10.58567/jea04010005","DOIUrl":"https://doi.org/10.58567/jea04010005","url":null,"abstract":"<p class=\"MsoNormal\" style=\"margin-top: 12pt; text-align: justify;\"><span lang=\"EN-US\" style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">This study examines the role of the Corporate Social Responsibility Committee (CSRC) in the adoption of strategic Corporate Social Responsibility (CSR) projects that surpass regulatory requirements and basic stakeholder expectations. Our results demonstrate that the establishment of CSRCs enhances all strategic CSR mechanisms, particularly business reputation, stakeholder interaction, risk mitigation, and innovation. Additionally, strategic CSR practices exhibit a strong correlation with CSRC attributes and organizational characteristics. Specifically, the size of the CSRC is positively associated with all dimensions of strategic CSR. Furthermore, CEO membership is likely to impede risk mitigation and innovation capacity, whereas board chair membership enhances business reputation, stakeholder communication, and innovation potential. In terms of gender diversity, female CSRC members show a greater concern for business reputation and associated risks. Regarding committee functioning, increased meeting frequency has the potential to enhance various aspects of strategic CSR.</span></p>","PeriodicalId":512845,"journal":{"name":"Journal of Economic Analysis","volume":"65 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141655753","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Skateparks, often called 'wheel parks,' are becoming increasingly common within communities worldwide. Despite this growth in parks, estimates show that the development of parks needs to catch up to users. Using a count data travel cost model, we estimate the adult user benefits associated with the Lauridsen Skatepark in Des Moines, Iowa – the largest in the United States. We estimate adult user benefits to be $61 per user per day and roughly $488,000 annually. This work contributes to the literature by being the first study to use econometric techniques to estimate skatepark user benefits. Second, we develop a simple and easy-to-apply method to assist municipalities in determining community skatepark needs. Third, our results support the literature showing that skateboarders are increasingly diverse.
{"title":"Shred Central: Estimating the user benefits associated with large public skateparks","authors":"Thomas Kemp","doi":"10.58567/jea04010004","DOIUrl":"https://doi.org/10.58567/jea04010004","url":null,"abstract":"<p class=\"MsoNormal\" style=\"margin-top: 12pt; text-align: justify;\"><span lang=\"EN-US\" style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">Skateparks, often called 'wheel parks,' are becoming increasingly common within communities worldwide. Despite this growth in parks, estimates show that the development of parks needs to catch up to users. Using a count data travel cost model, we estimate the adult user benefits associated with the Lauridsen Skatepark in Des Moines, Iowa – the largest in the United States. We estimate adult user benefits to be $61 per user per day and roughly $488,000 annually. This work contributes to the literature by being the first study to use econometric techniques to estimate skatepark user benefits. Second, we develop a simple and easy-to-apply method to assist municipalities in determining community skatepark needs. Third, our results support the literature showing that skateboarders are increasingly diverse.</span></p>","PeriodicalId":512845,"journal":{"name":"Journal of Economic Analysis","volume":"9 26","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141004528","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper examines the information content of selected US industries focusing on the dynamic linkages among these industries, the stock market and a number of fundamental variables. The period of investigation spans from January 1960 to December 2021. The empirical strategy includes several methodologies such as regressions, vector autoregressions and volatility models. The idea is to investigate the dynamic linkages among these series at both the mean and the volatility levels. The results point to significant industry returns’ explanatory power for many predictors of economic activity including the stock market. Further, time-varying analysis of the linkages among the industries and the stock market’s returns reveal that certain industries such as Oil and Financials provide consistent information leadership over other industries and across decades. Further, upon assessing the industry–market return volatility spillovers, it was found that a market risk–return profile may not always be economically significant and timely for investors. Finally, crises, financial or otherwise, affect industries but to differing degrees.
{"title":"Are Industry Returns Informative about Other Industries and Fundamentals?","authors":"N. Laopodis","doi":"10.58567/jea04010001","DOIUrl":"https://doi.org/10.58567/jea04010001","url":null,"abstract":"<p class=\"MsoNormal\" style=\"margin-top: 12pt; text-align: justify;\"><span lang=\"EN-US\" style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">This paper examines the information content of selected US industries focusing on the dynamic linkages among these industries, the stock market and a number of fundamental variables. The period of investigation spans from January 1960 to December 2021. The empirical strategy includes several methodologies such as regressions, vector autoregressions and volatility models. The idea is to investigate the dynamic linkages among these series at both the mean and the volatility levels. The results point to significant industry returns’ explanatory power for many predictors of economic activity including the stock market. Further, time-varying analysis of the linkages among the industries and the stock market’s returns reveal that certain industries such as <em style=\"mso-bidi-font-style: normal;\">Oil</em> and <em style=\"mso-bidi-font-style: normal;\">Financials</em> provide consistent information leadership over other industries and across decades. Further, upon assessing the industry–market return volatility spillovers, it was found that a market risk–return profile may not always be economically significant and timely for investors. Finally, crises, financial or otherwise, affect industries but to differing degrees.</span></p>","PeriodicalId":512845,"journal":{"name":"Journal of Economic Analysis","volume":"12 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140266486","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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