The EU and China's engagement in Africa: the dilemma of socialisation
In: Occasional paper 93
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In: Occasional paper 93
In: Forschung Philosophie und Soziologie Bd. 710
In: Journal of European integration history: Revue d'histoire de l'intégration européenne = Zeitschrift für Geschichte der europäischen Integration, Band 18, Heft 1, S. 11-24
ISSN: 0947-9511
In: Journal of European integration history: Revue d'histoire de l'intégration européenne = Zeitschrift für Geschichte der europäischen Integration, Band 18, Heft 1, S. 11-23
ISSN: 0947-9511
World Affairs Online
In: Environmental Economics, Forthcoming
SSRN
SSRN
Working paper
In: Information economics and policy, Band 41, S. 81-87
ISSN: 0167-6245
In: Emerging markets, finance and trade: EMFT, Band 49, Heft 6, S. 67-87
ISSN: 1558-0938
In: Corporate social responsibility and environmental management, Band 25, Heft 6, S. 1293-1305
ISSN: 1535-3966
AbstractThe elimination of tobacco products by CVS Health represents a special case of corporate social responsibility (CSR) with substantial costs—about $2 billion revenue loss in tobacco annually. This paper examines how CVS Health's stock market performance was affected by two events: the announcement (5 February 2014) and the implementation (1 October 2014) of the elimination of tobacco products. The study event approach and regression models are used to examine both short‐ and long‐term effects. The results show positive and significant abnormal returns during both events, with effects being much stronger during the implementation event period. In the long term, the net effects become neutral, most likely because the positive effects of CSR and the negative effects of the revenue loss offset each other. The results have important implications for both the retail pharmacy industry and companies in other industries. Socially responsible actions, such as the elimination of harmful products could impose substantial revenue losses or extra expenses, but more importantly, they can have a positive and significant impact on corporate financial performance. Thus, such actions benefit not only the stakeholders, but also the shareholders, and are consistent with both stakeholder theory and shareholder theory.
In: William Davidson Institute Working Paper No. 1092
SSRN
Working paper
In: International review of law and economics, Band 43, S. 10-21
ISSN: 0144-8188
In: Journal of Environmental Economics and Management, Band 57, Heft 3
SSRN
In: Materials and design, Band 132, S. 198-207
ISSN: 1873-4197
In: RENE-D-21-06239
SSRN
In: Environmental science and pollution research: ESPR, Band 24, Heft 2, S. 1845-1853
ISSN: 1614-7499