File Download
There are no files associated with this item.
Links for fulltext
(May Require Subscription)
- Publisher Website: 10.1016/j.finmar.2024.100910
- Find via
Supplementary
-
Citations:
- Appears in Collections:
Article: The role of options markets in corporate social responsibility
Title | The role of options markets in corporate social responsibility |
---|---|
Authors | |
Issue Date | 13-Apr-2024 |
Publisher | Elsevier |
Citation | Journal of Financial Markets, 2024 How to Cite? |
Abstract | We explore the relationship between options trading and corporate social responsibility (CSR). We find that options trading can enhance CSR by (i) fostering shareholder activism, as indicated by increased long-term and socially responsible institutional ownership and CSR proposals and (ii) intensifying product market competition, which spurs green innovation and product-related CSR initiatives. The positive effects are more pronounced in well-governed firms but diminished in firms with managerial entrenchment. Moreover, CSR improvements driven by options trading positively influence firm value, with notable enhancements in environmental performance. Our results underscore that options markets play a crucial role in promoting responsible corporate practices. |
Persistent Identifier | http://hdl.handle.net/10722/342761 |
ISSN | 2023 Impact Factor: 2.1 2023 SCImago Journal Rankings: 1.101 |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Li, Fengfei | - |
dc.contributor.author | Lin, Chen | - |
dc.contributor.author | Lin, Tse-Chun | - |
dc.contributor.author | Shen, Sichen | - |
dc.date.accessioned | 2024-04-24T02:46:58Z | - |
dc.date.available | 2024-04-24T02:46:58Z | - |
dc.date.issued | 2024-04-13 | - |
dc.identifier.citation | Journal of Financial Markets, 2024 | - |
dc.identifier.issn | 1386-4181 | - |
dc.identifier.uri | http://hdl.handle.net/10722/342761 | - |
dc.description.abstract | <p>We explore the relationship between options trading and corporate social responsibility (CSR). We find that options trading can enhance CSR by (i) fostering shareholder activism, as indicated by increased long-term and socially responsible institutional ownership and CSR proposals and (ii) intensifying product market competition, which spurs green innovation and product-related CSR initiatives. The positive effects are more pronounced in well-governed firms but diminished in firms with managerial entrenchment. Moreover, CSR improvements driven by options trading positively influence firm value, with notable enhancements in environmental performance. Our results underscore that options markets play a crucial role in promoting responsible corporate practices.<br></p> | - |
dc.language | eng | - |
dc.publisher | Elsevier | - |
dc.relation.ispartof | Journal of Financial Markets | - |
dc.title | The role of options markets in corporate social responsibility | - |
dc.type | Article | - |
dc.identifier.doi | 10.1016/j.finmar.2024.100910 | - |
dc.identifier.eissn | 1878-576X | - |
dc.identifier.issnl | 1386-4181 | - |