Corporate social responsibility, allegation of corruption, and media sentiment

Suresh Kalagnanam and Abhilash Nair

International Journal of Business Governance and Ethics, 2024, vol. 18, issue 6, 627-650

Abstract: This study examines the two possible effects of CSR on reputation - the insurance like effect and the boomerang effect - within the context of a uniform integrity-questioning negative event through the eyes of the media. Accordingly, we tested whether prior CSR engagement prompts media to give the firm the benefit of doubt when it is accused of 'grand corruption'. We estimated media sentiment using textual analysis on 45,000 media reports covering firms allegedly involved in 'grand corruption'. The study's findings provide no evidence of CSR providing insurance like effect, particularly in the context of integrity-based negative events. In contrast, our results appear to support the idea of the boomerang effect or a punishment for irresponsible behaviour.

Keywords: corporate social responsibility; CSR; insurance-like effect; media sentiment; grand corruption; boomerang effect; textual analysis. (search for similar items in EconPapers)
Date: 2024
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