Journal
FINANCIAL REVIEW
Volume 43, Issue 3, Pages 337-360Publisher
WILEY
DOI: 10.1111/j.1540-6288.2008.00197.x
Keywords
CSR; decision making; elections; headquarters; political views
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Funding
- Social Sciences and Humanities Research Council of Canada
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This paper conducts an empirical analysis of the relationship between corporate social responsibility (CSR) and political beliefs in the United States. By analyzing the 2004 presidential election results of communities in which corporate headquarters are located, we establish a correlation between the political beliefs of corporate stakeholders and the CSR ratings of their firms. Companies with a high CSR rating tend to be located in Democratic, or blue states and counties, while companies with a low CSR rating tend to be located in Republican, or red states and counties.
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