Institutional Ownership of Stock and Dimensions of Corporate Social Performance: An Empirical Examination  

Oleh:

Coffey, Betty S. ; Fryxell, Gerald E.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Journal of Business Ethics vol. 10 no. 6 (Jun. 1991), page 437-444.
Topik: Institutional Ownership; Corporate Social Performance; Empirical Examination

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: BB27.13 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Collectively, institutions own an increasing proportion of outstanding corporate equities. As an emergent force inshaping corporate America, the linkages between institutional ownership and corporate social performance (CSP) require empirical examination. Not only do corporate policy makers need to know those areas where social performance may lure or inhibit capital infusions, lawmakers also need a better understanding of the social forces guding corporate policy. As anticipated, this study found a positive relationship between the amount of institutional ownership of corporate stock and a company's social responsiveness as measured by the representation of women on its board of directors; however, no statistically significant relationship with social responsibiltiy as measured by charitble giving was found. The examplar of social issues management - compliance with the Sullivan principles - showed an unexpected, negative relationship with the level of institutional ownership.

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