"Companies often engage in activities of corporate social responsibility such as donating a share of profits to charity. Previous research suggests these initiatives can help attract and motivate workers, even at the cost of giving up part of their compensation. This column presents experimental evidence that shows, however, that when workers can choose who they want to work for, they prefer firms that offer a higher wage, and are attracted by a firm’s corporate social responsibility only when they consider their wage offer as ‘fair’. Further, if companies compensate donations to charity by reducing workers’ wages, this could ultimately harm workers’ wellbeing, depending on the worker’s views on the donations."
C.E.O.s Are Qualified to Make Profits, Not Lead Society
ESG Investing in the Pandemic Shows Power of Luck
ESG Investing Shines in Market Turmoil, With Help From Big Tech: The strength of socially responsible funds suggests they have staying power; ‘ESG is not a fad’
Funds that market themselves as sustainable investments aren’t necessarily focused on companies that fight climate change, develop wind turbines or promote diverse boards
ESG Funds Draw SEC Scrutiny (companies that pursue strategies to address environmental, social or governance challenges)
Is it a retailer’s job to keep shoppers from their vices? (or Adam Smith vs. CVS pharmacy)
Can You Find Virtue by Investing in Vice?
What if companies pledge to adhere to social and environmental accountability guidelines?
Conspicuous Consumption, Conspicuous Virtue, Thorstein Veblen (and Adam Smith, too!)
Data show that socially responsible investments can outperform the S&P 500 index
Is altruism a result of selfishness?
Do you have to be selfish to make more money?
Does collective self-deception mask selfish behavior?
Why Doing Good Makes It Easier to Be Bad
Businesses intentionally display their social and environmental performance in addition to their financial performance to stakeholders
Should you invest according to religious guidelines?
For a humorous view of this issue see
A Snickers a Day Keeps the Doctor Away: Why does CVS want to make my migraine cures hard to find? by Joseph C. Sternberg of the WSJ