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題名 女性董事和企業社會不負責任之研究
A Study on Female Directors and Corporate Social Irresponsibility作者 林耕毅
Lin, Keng-Yi貢獻者 傅浚映
Fu, Jyun-Ying
林耕毅
Lin, Keng-Yi關鍵詞 公司治理
企業董事性別比例
企業社會不負責
Corporate governance
Board gender ratio
Corporate social irresponsibility日期 2023 上傳時間 2-八月-2023 13:35:07 (UTC+8) 摘要 21世紀社會對於環境與人權的日益重視,企業在策略制定與決策執行時,所需考慮的因素也隨之增加。本研究認為企業社會不負責(CSI)與企業社會責任(CSR)本質上有所區別,認為多做好事不能掩蓋多做壞事,做了一次壞事的代價可能足以讓過往累積的商譽前功盡棄。但即使後果如此,企業往往在追求短期的利益時,可能會疏略企業社會責任。這些可能原因是由於競爭壓力、法律監管不周或是公司內控等問題。一旦這些CSI行為被揭露,短期上,公司短期股價及業績會下跌;長期而言,亦會影響公司員工忠誠度以及可持續發展性。即使公司可在被揭露後提出改善方案,但造成的傷害也會永遠伴隨著公司。鑒於CSI對企業所帶來的負面效果,本研究想了解企業如何減少企業CSI行為。本研究以10251間美國上市公司為樣本,使用KLD數據庫來量化評分 CSI程度,並從Compustat數據庫得到需要的財務指標。本研究以迴歸分析研究女性董事比例與CSI之間的關係,發現了顯著負向相關。此外,本研究也發現企業年齡為一重要的調節變數。本研究之結果對於想要增進企業女性董事性別比例或減少CSI的公司或是政策制定者有重要啟示。
As the society puts more and more emphasis on the environment and human rights in the 21st century, enterprises recognize the need to consider these factors when formulating strategies and making decisions. However, it is important to acknowledge that engaging in positive actions alone cannot compensate for negative actions. The cost of bad things can outweigh any goodwill accumulated in the past, thus leading to reputational damage. These firms may choose to undertake corporate social irresponsibility (CSI) activities due to the pressure of competition, insufficient legal supervision, or internal control issues. Such a short-sighted approach can have detrimental effects on employee loyalty and sustainable development.Given the adverse effects of CSI, it is crucial to explore how firms can effectively reduce such behaviors. To investigate this question, my study uses a sample of 10,251 U.S. listed companies. To quantify the level of CSI, I draw data from the KLD database. Finally, I obtain financial information from the COMPUSTAT database. The empirical results show that the proportion of female directors is negatively associated with CSI. Additionally, I identify firm age as one moderating variable that will weaken the above relationship. These research findings have significant implication for firms and policy makers who are interested in promoting board gender diversity and reducing CSI.參考文獻 孫亮, & 周琳. (2016). 女性董事, 過度投資與績效波動——基於謹慎性視角的研究. 管理評論, 28(7), 165-178.黃莉凌.(2018)擔負企業社會責任與不負企業社會責任對企業績效影響之探討. 2018. PhD Thesis.Adams, R. B., & Ferreira, D. (2009). Women in the boardroom and their impact on governance and performance. Journal of Financial Economics, 94(2), 291-309.Aggarwal, R. K., & Nanda, D. (2004). Access, common agency, and board size. Common Agency, and Board Size (July 2004).Allen, W. T., Kraakman, R., & Khanna, V. S. (2021). Commentaries and cases on the law of business organization. Aspen Publishing.Armstrong, J. S. (1977). Social irresponsibility in management. Journal of BusinessResearch, 5(3), 185–213.Bear, S., Rahman, N., and Post, C. (2010). The impact of board diversity and gender composition on corporate social responsibility and firm reputation. Journal of Business Ethics, 97(2), 207-221.Bly, M. (Ed.). (2011). Deepwater Horizon accident investigation report. Diane Publishing.Bilimoria, D. (2000). Building the business case for women corporate directors. In R. J. Burke & M. C. Mattis (Eds.), Women on corporate boards of directors: International challenges and opportunities. Dordrecht: Kluwer Academic Publishers.Brammer, S., Jackson, G., & Matten, D. (2012). Corporate social responsibility and institutional theory: New Perspectives on Private Governance. Socio-Economic Review, 10(1), 3-28.Byron, K., & Post, C. (2016). Women on boards of directors and corporate social performance: A meta‐analysis. Corporate Governance: An International Review, 24(4), 428-442.Carroll, A. B. (1979). A three-dimensional conceptual model of corporate performance. Academy of Management Review, 4(4), 497-505.Carter, D. A., Simkins, B. J., & Simpson, W. G. (2003). Corporate governance, board diversity, and firm value. Financial Review, 38(1), 33-53.Charness, G., & Gneezy, U. (2012). Strong evidence for gender differences in risk taking. Journal of Economic Behavior & Organization, 83(1), 50-58.Chen, L., Feldmann, A., & Tang, O. (2015). The relationship between disclosures of corporate social performance and financial performance: Evidences from GRI reports in manufacturing industry. International Journal of Production Economics, 170, 445-456.D`Amato, A., & Falivena, C. (2020). Corporate social responsibility and firm value: Do firm size and age matter? Empirical evidence from European listed companies. Corporate Social Responsibility and Environmental Management, 27(2), 909-924.Delmas, M. A., & Toffel, M. W. (2008). Organizational responses to environmental demands: Opening the black box. Strategic Management Journal, 29(10), 1027-1055.Eccles, R. G., Lee, L. E., & Stroehle, J. C. (2020). The social origins of ESG: An analysis of Innovest and KLD. Organization & Environment, 33(4), 575-596.Evans, D. S. (1987). The relationship between firm growth, size, and age: Estimates for 100 manufacturing industries. The Journal of Industrial Economics, 567-581.Fine, G. A. 2012. Sticky reputations: The politics of collective memory in midcentury America. New York: Routledge.Fombrun, C., & Shanley, M. (1990). What`s in a name? Reputation building and corporate strategy. Academy of Management Journal, 33(2), 233-258.Groening, C., & Kanuri, V. K. (2013). Investor reaction to positive and negative corporate social events. Journal of Business Research, 66(10), 1852-1860.Harjoto, M. A., Hoepner, A. G., & Li, Q. (2022). A stakeholder resource-based view of corporate social irresponsibility: Evidence from China. Journal of Business Research, 144, 830-843.Hillman, A. J., & Keim, G. D. (2001). Shareholder value,8imk , stakeholder management, and social issues: what`s the bottom line?. Strategic Management Journal, 22(2), 125-139.Holmberg, J. and Sandbrook, R. (1992) Sustainable Development: What is to be Done? J. Holmberg(ed.) Policies for a Small Planet, pp. 19–38. Earthscan: London.Jain, T., & Zaman, R. (2020). When boards matter: The case of corporate social irresponsibility. British Journal of Management, 31(2), 365-386.Jones, G., Jones, B., & Little, P. (2000). Reputation as reservoir: buffering against loss in times of economic crisis. Corporate Reputation Review, 39(1), 53–7Jones, B., Bowd, R., & Tench, R. (2009). Corporate irresponsibility and corporate social responsibility: competing realities. Social Responsibility Journal, 5(3), 300-310.Kang, C., Germann, F., & Grewal, R. (2016). Washing away your sins? Corporate social responsibility, corporate social irresponsibility, and firm performance. Journal of Marketing, 80(2), 59-79.Lin-Hi, N., & Müller, K. (2013). The CSR bottom line: Preventing corporate social irresponsibility. Journal of Business Research, 66(10), 1928-1936.Liu, C., Wang, S. L., & Li, D. (2022). Hidden in a group? Market reactions to multi‐violator corporate social irresponsibility disclosures. Strategic Management Journal, 43(1), 160-179.Loderer, C. F., & Waelchli, U. (2010). Firm age and performance. Available at SSRN 1342248.Lyon, L., & Cameron, G. T. (2004). A relational approach examining the interplay of prior reputation and immediate response to a crisis. Journal of Public Relations Research, 16(3), 213-241.Madsen, P. M. 2009. These lives will not be lost in vain: Organizational learning from disaster in U.S. coal mining. Organization Science, 20, 861–875.Mena, S., Rintamäki, J., Fleming, P., & Spicer, A. (2016). On the forgetting of corporate irresponsibility. Academy of Management Review, 41(4), 720-738.Murphy, P. E., & Schlegelmilch, B. B. (2013). Corporate social responsibility and corporate social irresponsibility: Introduction to a special topic section. Journal of Business Research, 66(10), 1807-1813.Nardella, G., Surdu, I., & Brammer, S. (2022). What happens abroad, stays abroad? Exploring how corporate social irresponsibility in domestic and international markets influences corporate reputation. Journal of World Business, 101420.Petrenko, O. V., Aime, F., Ridge, J., & Hill, A. (2016). Corporate social responsibility or CEO narcissism? CSR motivations and organizational performance. Strategic Management Journal, 37(2), 262-279.Rose, C. (2007). Does female board representation influence firm performance? The Danish evidence. Corporate governance: An International Review, 15(2), 404-413.Sellers , P .( 2007 ). The Power 50, Fortune Magazine, 156 (8) , 77 – 86 .Sen, S., Bhattacharya, C. B., & Korschun, D. (2006). The role of corporate social responsibility in strengthening multiple stakeholder relationships: A field experiment. Journal of the Academy of Marketing science, 34(2), 158-166.Srinidhi, B. I. N., Gul, F. A., & Tsui, J. (2011). Female directors and earnings quality. Contemporary Accounting Research, 28(5), 1610-1644.Stephenson, C., & Nt, M. (2004). Leveraging diversity to maximum advantage: The business case for appointing more women to boards. Ivey Business Journal, 69(1), 1-5.Sull, D. N. (2005). Why good companies go bad. Financial Times, 3.Sweetin, V. H., Knowles, L. L., Summey, J. H., & McQueen, K. S. (2013). Willingness-to-punish the corporate brand for corporate social irresponsibility. Journal of BusinessResearch, 66(10), 1822-1830.Tanaka, S. I. (2012). Accident at the Fukushima Dai-ichi nuclear power stations of TEPCO—outline & lessons learned—. Proceedings of the Japan Academy, Series B, 88(9), 471-484.Tang, Y., Qian, C., Chen, G., & Shen, R. (2015). How CEO hubris affects corporate social (ir) responsibility. Strategic Management Journal, 36(9), 1338-1357.Taylor, J., Vithayathil, J., & Yim, D. (2018). Are corporate social responsibility (CSR) initiatives such as sustainable development and environmental policies value enhancing or window dressing?. Corporate Social Responsibility and Environmental Management, 25(5), 971-980.Valor, C., Antonetti, P., & Zasuwa, G. (2022). Corporate social irresponsibility and consumer punishment: A systematic review and research agenda. Journal of Business Research, 144, 1218-1233.Wang, J. and B. Coffey: 1992, Board Composition and Corporate Philanthropy, Journal of Business Ethics 11(10), 771–778.Withisuphakorn, P., & Jiraporn, P. (2016). The effect of firm maturity on corporate social responsibility (CSR): do older firms invest more in CSR?. Applied Economics Letters, 23(4), 298-301.Yoon, Y., Gürhan-Canli, Z., & Schwartz, N. (2006). The effect of corporate social responsibility activities on companies with bad reputations. Journal of Consumer Psychology, 16(4), 377–390.Zhong, X., Ren, L., & Song, T. (2021). Beyond market strategies: How multiple decision-maker groups jointly influence underperforming firms’ corporate social (ir) responsibility. Journal of Business Ethics, 1-19.Zhang, Z., Gong, M., Zhang, S., & Jia, M. (2023). Buffering or aggravating effect? Examining the effects of prior corporate social responsibility on corporate social irresponsibility. Journal of Business Ethics, 183(1), 147-163. 描述 碩士
國立政治大學
企業管理研究所(MBA學位學程)
110363066資料來源 http://thesis.lib.nccu.edu.tw/record/#G0110363066 資料類型 thesis dc.contributor.advisor 傅浚映 zh_TW dc.contributor.advisor Fu, Jyun-Ying en_US dc.contributor.author (作者) 林耕毅 zh_TW dc.contributor.author (作者) Lin, Keng-Yi en_US dc.creator (作者) 林耕毅 zh_TW dc.creator (作者) Lin, Keng-Yi en_US dc.date (日期) 2023 en_US dc.date.accessioned 2-八月-2023 13:35:07 (UTC+8) - dc.date.available 2-八月-2023 13:35:07 (UTC+8) - dc.date.issued (上傳時間) 2-八月-2023 13:35:07 (UTC+8) - dc.identifier (其他 識別碼) G0110363066 en_US dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/146442 - dc.description (描述) 碩士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 企業管理研究所(MBA學位學程) zh_TW dc.description (描述) 110363066 zh_TW dc.description.abstract (摘要) 21世紀社會對於環境與人權的日益重視,企業在策略制定與決策執行時,所需考慮的因素也隨之增加。本研究認為企業社會不負責(CSI)與企業社會責任(CSR)本質上有所區別,認為多做好事不能掩蓋多做壞事,做了一次壞事的代價可能足以讓過往累積的商譽前功盡棄。但即使後果如此,企業往往在追求短期的利益時,可能會疏略企業社會責任。這些可能原因是由於競爭壓力、法律監管不周或是公司內控等問題。一旦這些CSI行為被揭露,短期上,公司短期股價及業績會下跌;長期而言,亦會影響公司員工忠誠度以及可持續發展性。即使公司可在被揭露後提出改善方案,但造成的傷害也會永遠伴隨著公司。鑒於CSI對企業所帶來的負面效果,本研究想了解企業如何減少企業CSI行為。本研究以10251間美國上市公司為樣本,使用KLD數據庫來量化評分 CSI程度,並從Compustat數據庫得到需要的財務指標。本研究以迴歸分析研究女性董事比例與CSI之間的關係,發現了顯著負向相關。此外,本研究也發現企業年齡為一重要的調節變數。本研究之結果對於想要增進企業女性董事性別比例或減少CSI的公司或是政策制定者有重要啟示。 zh_TW dc.description.abstract (摘要) As the society puts more and more emphasis on the environment and human rights in the 21st century, enterprises recognize the need to consider these factors when formulating strategies and making decisions. However, it is important to acknowledge that engaging in positive actions alone cannot compensate for negative actions. The cost of bad things can outweigh any goodwill accumulated in the past, thus leading to reputational damage. These firms may choose to undertake corporate social irresponsibility (CSI) activities due to the pressure of competition, insufficient legal supervision, or internal control issues. Such a short-sighted approach can have detrimental effects on employee loyalty and sustainable development.Given the adverse effects of CSI, it is crucial to explore how firms can effectively reduce such behaviors. To investigate this question, my study uses a sample of 10,251 U.S. listed companies. To quantify the level of CSI, I draw data from the KLD database. Finally, I obtain financial information from the COMPUSTAT database. The empirical results show that the proportion of female directors is negatively associated with CSI. Additionally, I identify firm age as one moderating variable that will weaken the above relationship. These research findings have significant implication for firms and policy makers who are interested in promoting board gender diversity and reducing CSI. en_US dc.description.tableofcontents 第一章 緒論 5第一節 研究背景與動機 5第二節 研究目的與問題 8第三節 研究架構 9第二章 企業社會不負責任(CSI)的成因與文獻探討 10第一節 CSI的定義及與CSR的區別 10第二節 文獻回顧:企業社會不負責任(CSI)的成因與動機 15第三節 文獻回顧:企業社會不負責任對公司長、短期影響 20第四節 文獻回顧:如何消除或減輕CSI造成的負面影響 24第三章:研究情境與假設 29第一節 美國公司背景、董事制度和人員組成 29第二節 研究價值與創新性 32第三節 女性董事與企業社會不負責 33第四節 企業年齡的調節效果 35第四章 研究方法 38第一節 樣本收集與來源數據庫 38第二節 變數衡量 41第三節 研究結果與解釋 44第五章 總結與建議 50第一節 研究主要發現:女性董事比例與CSI行為的關係 50第二節 研究限制與未來研究方向 51第三節 對企業的實務建議 53第六章 參考資料 55 zh_TW dc.format.extent 964795 bytes - dc.format.mimetype application/pdf - dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0110363066 en_US dc.subject (關鍵詞) 公司治理 zh_TW dc.subject (關鍵詞) 企業董事性別比例 zh_TW dc.subject (關鍵詞) 企業社會不負責 zh_TW dc.subject (關鍵詞) Corporate governance en_US dc.subject (關鍵詞) Board gender ratio en_US dc.subject (關鍵詞) Corporate social irresponsibility en_US dc.title (題名) 女性董事和企業社會不負責任之研究 zh_TW dc.title (題名) A Study on Female Directors and Corporate Social Irresponsibility en_US dc.type (資料類型) thesis en_US dc.relation.reference (參考文獻) 孫亮, & 周琳. (2016). 女性董事, 過度投資與績效波動——基於謹慎性視角的研究. 管理評論, 28(7), 165-178.黃莉凌.(2018)擔負企業社會責任與不負企業社會責任對企業績效影響之探討. 2018. PhD Thesis.Adams, R. B., & Ferreira, D. (2009). Women in the boardroom and their impact on governance and performance. Journal of Financial Economics, 94(2), 291-309.Aggarwal, R. K., & Nanda, D. (2004). Access, common agency, and board size. Common Agency, and Board Size (July 2004).Allen, W. T., Kraakman, R., & Khanna, V. S. (2021). Commentaries and cases on the law of business organization. Aspen Publishing.Armstrong, J. S. (1977). Social irresponsibility in management. Journal of BusinessResearch, 5(3), 185–213.Bear, S., Rahman, N., and Post, C. (2010). The impact of board diversity and gender composition on corporate social responsibility and firm reputation. Journal of Business Ethics, 97(2), 207-221.Bly, M. (Ed.). (2011). Deepwater Horizon accident investigation report. Diane Publishing.Bilimoria, D. (2000). Building the business case for women corporate directors. In R. J. Burke & M. C. Mattis (Eds.), Women on corporate boards of directors: International challenges and opportunities. Dordrecht: Kluwer Academic Publishers.Brammer, S., Jackson, G., & Matten, D. (2012). Corporate social responsibility and institutional theory: New Perspectives on Private Governance. Socio-Economic Review, 10(1), 3-28.Byron, K., & Post, C. (2016). Women on boards of directors and corporate social performance: A meta‐analysis. Corporate Governance: An International Review, 24(4), 428-442.Carroll, A. B. (1979). A three-dimensional conceptual model of corporate performance. Academy of Management Review, 4(4), 497-505.Carter, D. A., Simkins, B. J., & Simpson, W. G. (2003). Corporate governance, board diversity, and firm value. Financial Review, 38(1), 33-53.Charness, G., & Gneezy, U. (2012). Strong evidence for gender differences in risk taking. Journal of Economic Behavior & Organization, 83(1), 50-58.Chen, L., Feldmann, A., & Tang, O. (2015). The relationship between disclosures of corporate social performance and financial performance: Evidences from GRI reports in manufacturing industry. International Journal of Production Economics, 170, 445-456.D`Amato, A., & Falivena, C. (2020). Corporate social responsibility and firm value: Do firm size and age matter? Empirical evidence from European listed companies. Corporate Social Responsibility and Environmental Management, 27(2), 909-924.Delmas, M. A., & Toffel, M. W. (2008). Organizational responses to environmental demands: Opening the black box. Strategic Management Journal, 29(10), 1027-1055.Eccles, R. G., Lee, L. E., & Stroehle, J. C. (2020). The social origins of ESG: An analysis of Innovest and KLD. Organization & Environment, 33(4), 575-596.Evans, D. S. (1987). The relationship between firm growth, size, and age: Estimates for 100 manufacturing industries. The Journal of Industrial Economics, 567-581.Fine, G. A. 2012. Sticky reputations: The politics of collective memory in midcentury America. New York: Routledge.Fombrun, C., & Shanley, M. (1990). What`s in a name? Reputation building and corporate strategy. Academy of Management Journal, 33(2), 233-258.Groening, C., & Kanuri, V. K. (2013). Investor reaction to positive and negative corporate social events. Journal of Business Research, 66(10), 1852-1860.Harjoto, M. A., Hoepner, A. G., & Li, Q. (2022). A stakeholder resource-based view of corporate social irresponsibility: Evidence from China. Journal of Business Research, 144, 830-843.Hillman, A. J., & Keim, G. D. (2001). Shareholder value,8imk , stakeholder management, and social issues: what`s the bottom line?. Strategic Management Journal, 22(2), 125-139.Holmberg, J. and Sandbrook, R. (1992) Sustainable Development: What is to be Done? J. Holmberg(ed.) Policies for a Small Planet, pp. 19–38. Earthscan: London.Jain, T., & Zaman, R. (2020). When boards matter: The case of corporate social irresponsibility. British Journal of Management, 31(2), 365-386.Jones, G., Jones, B., & Little, P. (2000). Reputation as reservoir: buffering against loss in times of economic crisis. Corporate Reputation Review, 39(1), 53–7Jones, B., Bowd, R., & Tench, R. (2009). Corporate irresponsibility and corporate social responsibility: competing realities. Social Responsibility Journal, 5(3), 300-310.Kang, C., Germann, F., & Grewal, R. (2016). Washing away your sins? Corporate social responsibility, corporate social irresponsibility, and firm performance. Journal of Marketing, 80(2), 59-79.Lin-Hi, N., & Müller, K. (2013). The CSR bottom line: Preventing corporate social irresponsibility. Journal of Business Research, 66(10), 1928-1936.Liu, C., Wang, S. L., & Li, D. (2022). Hidden in a group? Market reactions to multi‐violator corporate social irresponsibility disclosures. Strategic Management Journal, 43(1), 160-179.Loderer, C. F., & Waelchli, U. (2010). Firm age and performance. Available at SSRN 1342248.Lyon, L., & Cameron, G. T. (2004). A relational approach examining the interplay of prior reputation and immediate response to a crisis. Journal of Public Relations Research, 16(3), 213-241.Madsen, P. M. 2009. These lives will not be lost in vain: Organizational learning from disaster in U.S. coal mining. Organization Science, 20, 861–875.Mena, S., Rintamäki, J., Fleming, P., & Spicer, A. (2016). On the forgetting of corporate irresponsibility. Academy of Management Review, 41(4), 720-738.Murphy, P. E., & Schlegelmilch, B. B. (2013). Corporate social responsibility and corporate social irresponsibility: Introduction to a special topic section. Journal of Business Research, 66(10), 1807-1813.Nardella, G., Surdu, I., & Brammer, S. (2022). What happens abroad, stays abroad? Exploring how corporate social irresponsibility in domestic and international markets influences corporate reputation. 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