Three essays on corporate social responsibility: social threat framing in crowdfunding, corporate diversity commitment, and corporate responsibility devolvement
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This thesis consists of three essays on corporate social responsibility (CSR). In the first essay, I focus on a particular practice of social threat framing in crowdfunding and investigate how this framing relates to fundraising performance. Crowdfunding is an online financing tool that entrepreneurs use to raise funds for their businesses from potential investors in the general public. I attempt to find out whether social threat framing in crowdfunding proposal improves funding performance. I will also look into the factors that may make social threat framing more effective in contributing to funding success. In the second essay, I examine the impact of corporate diversity commitment. My goal is to understand the impact of corporate diversity commitment on key aspects of firm operation, beyond financial performance. First, I will look at whether diversity commitment help firms reduce reputational risk. That is, whether diversity reduces the number of concerns in managing social issues. Second, I am curious whether increased diversity commitment may augment the general sense of social responsibility for the firm such that the firms may increase CSR investment in other areas as well. I choose environmental performance as an indicator to find an answer to this inquiry. In the third essay, I aim to understand the phenomenon of corporate responsibility devolvement and explore potential mechanisms that help sustain the devolvement considering the challenges by stakeholders. There has been very little research on this industrial practice. I will define the phenomenon first, and then explore a few mechanisms that contribute to the acceptance of corporate responsibility devolvement among stakeholders.