Publication: Inflation, the corporate greed narrative, and the value of corporate social responsibility
Inflation, the corporate greed narrative, and the value of corporate social responsibility
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Mão-de-Ferro, A., & Ramelli, S. (2023). Inflation, the corporate greed narrative, and the value of corporate social responsibility (No. 23–06; Swiss Finance Institute Research Paper). https://doi.org/10.2139/ssrn.4308164
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Inflation can significantly undermine companies’ relationships with their customers, employees, and other stakeholders, spawning a crisis of trust. This is particularly true in a period when many citizens accuse corporations of excessively raising prices to maximize profits. Studying the cross-sectional reactions of U.S. stocks to inflation over the period 2018-2022, we find that in the month following a higher inflation rate, equity investors reward firms with stronger social capital, as proxied by their corporate social responsibili
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Mão-de-Ferro, A., & Ramelli, S. (2023). Inflation, the corporate greed narrative, and the value of corporate social responsibility (No. 23–06; Swiss Finance Institute Research Paper). https://doi.org/10.2139/ssrn.4308164
