Meg Sato
  佐藤　愛
   所属   大阪経済大学  経営学部 経営学科
   職種   教授
言語種別 英語
発行・発表の年月 2024/07
形態種別 学術雑誌
査読 査読あり
標題 “Socially Responsible Investment: Ex-ante Contracting or Ex-post Bargaining.”
執筆形態 単著
掲載誌名 International Review of Economics & Finance
掲載区分国外
出版社・発行元 Elsevier
巻・号・頁 94,pp.1-20
総ページ数 20
担当区分 筆頭著者,最終著者,責任著者
概要 This paper shows how a socially and environmentally aware firm principal can motivate a profit-oriented manager to pursue positive environmental, social, and governance (ESG) outcomes. In the model, the manager produces a verifiable output that creates social costs but also engages in an unverifiable output that promotes ESG. The paper demonstrates that an ex-post bargaining contract is preferred to an ex-ante commitment contract if the unverifiable output substantially improves ESG or if there exist substantial social costs. The paper also examines how social impact bonds can be more effective than short-term debt when used to finance social programs.
researchmap用URL https://authors.elsevier.com/a/1jDfS3mpIo6wCe