The United States is the only advanced, industrialized country without a federal paid family leave law. Corporate social responsibility (CSR) literature surrounding state-level paid leave policies point to the far-reaching benefits associated with offering families paid time off to bond with a new child or care for a sick family member. In this paper, we use individual responses from the American Time Use Survey and implement difference in difference, difference in difference in difference and ordered probit models to analyze time-use and well-being among heterosexual couples. Results show that leave-eligible fathers spend approximately 30 minutes more in housework activities each day than non-eligible fathers and that eligible mothers in California experience more meaningfulness and less stress at work. Findings of this study highlight the gender equality and well-being outcomes of paid leave in the United States.
Norway passed a gender quota law in 2003 that requires corporate boards to be 40 percent female. This paper examines the financial impact of the quota. The financials for public Norwegian companies were extracted from Mergent Online for the years 1999 to 2017. A random effects model was used to study the financial performance of the companies before and after the law was fully complied with in 2008. This study contradicts previous literature by finding that return on equity decreased after more females joined corporate boards. However, the past literature did not examine companies that had to comply with a gender quota mandate. This paper aims to lend financial insight to California as they move forward with a quota of their own.
There has been a lot of research done in the past to determine the relationship between Corporate Social Performance (CSP), Corporate Social Responsibility (CSR) and Corporate Financial Performance (CFP). The results of past research have been divided and inconclusive. This paper examines how CSR scores, obtained from CSRHub, interact with stock returns on a quarterly basis. The models in this paper utilize an overall CSR score, and the Fama-French three factor mode (Fama & French 1993), to predict stock returns. Using five regressions, this study finds that there is a negative relationship between CSR and stock returns. While this result is consistent with that of Brammer et al. (2008), it is in opposition to the majority of past research which finds a positive relationship between the two variables.
This study investigates whether socially responsible (CSR) firms behave responsibly in their financial reporting, specifically by constraining earnings management. This study first clarifies what a CSR firm is and identifies socially responsible firms through the KLD database. Three methods are used to detect earnings management—abnormal discretionary accruals, abnormal cash flows from operations and abnormal cash flows to net income ratios. This study concludes that CSR firms are less likely than their industry counterparts to participate in sales manipulations, are more likely to have higher cash flows from operations, and are more likely to have higher quality of earnings.