دانلود مقاله ISI انگلیسی شماره 48879
ترجمه فارسی عنوان مقاله

تعهد به کالای اجتماعی و معاملات داخلی

عنوان انگلیسی
Commitment to social good and insider trading ☆
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
48879 2014 27 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Accounting and Economics, Volume 57, Issues 2–3, April–May 2014, Pages 149–175

ترجمه کلمات کلیدی
مسئولیت اجتماعی شرکت ها - تجارت خودی
کلمات کلیدی انگلیسی
M14; G10Corporate social responsibility; Insider trading
پیش نمایش مقاله
پیش نمایش مقاله  تعهد به کالای اجتماعی و معاملات داخلی

چکیده انگلیسی

A firm׳s investment in corporate social responsibility (CSR) builds a positive image of caring for social good and imposes additional costs on executives׳ informed trading, which is widely perceived self-serving. We thus expect executives of CSR-conscious firms to be more likely to refrain from informed trading. We find that executives of CSR-conscious firms profit significantly less from insider trades and are less likely to trade prior to future news than executives of non-CSR-conscious firms. The negative association between CSR and insider trading profits is more pronounced when executives׳ personal interests are more aligned with the interests of the firm.