基地研究员许泳昊与合作者（Xiaowei Lin, School of Finance and Accounting, Fuzhou University of International Studies and Trade; Ao Li, School of Finance, Zhongnan University of Economics and Law; Zijun Ding, DeGroote School of Business, McMaster University）的论文 "Does internal whistleblowing build more socially responsible firms？" 在重要学术期刊International Review of Economics and Finance在线发表。

        Abstract:

      We examine the impact of internal whistleblowing on firms' CSR performance. We find that establishing internal whistleblowing poses a significantly positive impact on firms' CSR performance. To alleviate endogenous problems, we implement the instrumental variable regression and propensity score matching methods.

      Furthermore, we find that the effect of internal whistleblowing on firms' CSR performance is more pronounced in firms with fewer financial constraints or own higher profitability, firms with less institutional shareholding and less analyst following, and firms located in provinces with a greater cultural atmosphere of egalitarianism and humanism. Finally, we further provide evidence that a positive effect of internal whistleblowing on firms' profit and market value is stronger among the more socially responsible firms. Our paper is the first to explore the link between the monitoring role of employees and firms' CSR, contributing to the growing literature on whether and how employees impact a firm's CSR performance.

       Keywords：Whistleblowing; CSR performance; Internal governance

       链接：https://doi.org/10.1016/j.iref.2023.03.016

教师简介

许泳昊，中南财经政法大学金融学院讲师。北京大学数学科学学院数学与应用学学士，北京大学国家发展学院经济学学士，北京大学光华管理学院金融博士。2021年博士毕业后入职中南财经政法大学担任金融学院讲师。主要研究专注于研究金融科技、行为金融学、家庭金融和资产定价，研究成果发表在《Economics Letters》和《管理世界》。