Skip to main content
SpringerLink
Log in

Corporate Social Action and Newspaper Media: The Role of Geopolitical Risk

  • Chapter
Corporate Responsibility

  • 2292 Accesses

Abstract

Recently, both managers and scholars have come to appreciate that firms must create shared social value (Porter and Kramer, 2011). Indeed, firms engage in social issues and undertake social actions to signal to their stakeholders both the social quality of the firm and its commitment to creating shared social value.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
eBook
USD 16.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Abowd, J.M., Milkovich, G.T. and Hannon, J.M. 1990. The Effects of Human Resource Management Decisions on Shareholder Value. Industrial Labour Relations Review, 43(3), 203S-236S.

    Article  Google Scholar 

  • Abraham, S.E. 2006. The Market Reaction to Layoff Announcements: A Union-Nonunion Comparison. International Journal of Manpower, 27(5), 452–466.

    Article  Google Scholar 

  • Barney, J.B. 1997. Gaining and Sustaining Competitive Advantage. Reading, MA: Addison-Wesley Publishing Company, Inc.

    Google Scholar 

  • Barney, J.B. 2001. Resource-Based Theories of Competitive Advantage: A Ten Year Retrospective on the Resource-Based View. Journal of Management, 27, 643–650.

    Article  Google Scholar 

  • Blackwell, D.W., Marr, M.W. and Spivey, M.F. 1990. Plant-Closing Decisions and the Market Value of the Firm. Journal of Financial Economics, 26(2), 277–288.

    Article  Google Scholar 

  • Bowman, R. 1983. Understanding and Conducting Event Studies. Journal of Business Finance & Accounting, 10(4), 561–583.

    Article  Google Scholar 

  • Brockner, J., Grover, S., Reed, T. and Dewitt, R.L. 1992. Layoffs, Job Insecurity, and Survivors’ Work Effort: Evidence of an Inverted U-Shaped Relationship. Academy of Management Journal, 35(2), 413–425.

    Article  Google Scholar 

  • Brockner, J., Spreitzer, G., Mishra, A., Hochwarter, W., Pepper, L. and Weinberg, J. 2004. Perceived Control as an Antidote to the Negative Effects of Layoffs on Survivors’ Organizational Commitment and Job Performance. Administrative Science Quarterly, 49(1), 76–100.

    Google Scholar 

  • Brookman, J.T., Chang, S. and Rennie, C.G. 2007. CEO Cash and Stock-Based Compensation Changes, Layoff Decisions, and Shareholder Value. Financial Review, 42, 99–119.

    Article  Google Scholar 

  • Brown, S.J. and Warner, J.B. 1985. Using Daily Stock Returns. Journal of Financial Economics, 14(1), 3–31.

    Article  Google Scholar 

  • Caves, R.E. and Kreps, M.B. 1993. Fat: The Displacements of Non-production Workers from US Manufacturing Industries. In Brookings Papers on Economic Activity, Microeconomics, 2. Washington, DC: Brookings Institution, 227–274.

    Google Scholar 

  • Chalos, P. and Chen, C.J.P. 2002. Employee Downsizing Strategies: Market Reaction and Post Announcement Financial Performance. Journal of Business Finance & Accounting, 29(5–6), 847–870.

    Article  Google Scholar 

  • Chen, P., Mehrota, V., Sivakumar, R. and Yu, W.W. 2001. Layoffs, Shareholders’ Wealth and Corporate Performance. Journal of Empirical Finance, 8(2), 171–199.

    Article  Google Scholar 

  • Clinebell, S.K. and Clinebell, J.M. 1994. The Effect of Advance Notice of Plant Closing on Firm Value. Journal of Management, 20(3), 553–564.

    Article  Google Scholar 

  • Datta, D.K., Guthrie, J.P., Basuil, D. and Pandey, A. 2010. Causes and Effects of Employee Downsizing: A Review and Synthesis. Journal of Management, 36(1), 281–348.

    Article  Google Scholar 

  • De Meuse, K.P., Bergmann, T.J., Vanderheiden, P.A. and Roraff, C.E. 2004. New Evidence Regarding Organizational Downsizing and a Firm’s Financial Performance: A Long-Term Analysis. Journal of Managerial Issues, 16(2), 155–177.

    Google Scholar 

  • Elayan, F.A., Swales, G.S., Maris, B.A. and Scott, J.R. 1998. Market Reactions, Characteristics, and the Effectiveness of Corporate Layoffs. Journal of Business Finance & Accounting, 25(3–4), 329–351.

    Article  Google Scholar 

  • Fama, E., Fisher, L., Jensen, M. and Roll, R. 1969. The Adjustment of Stock Prices to New Information. International Economic Review, 10(1), 1–21.

    Article  Google Scholar 

  • Farber, H.S. and Hallock, K.F. 1999. Have Employement Reductions Become Good News for Shareholders? The Effect of Job Loss Announcements on Stock Prices, 1970–1990. NBER Working Paper, No. 7295.

    Book  Google Scholar 

  • Filbeck, G. and Webb, S.E. 2001. Information Asymmetries, Managerial Ownership, and the Impact of Layoff Announcements on Shareholder Wealth. Quarterly Journal of Business and Economics, 40(2), 31–47.

    Google Scholar 

  • Goins, S. and Gruca, T.S. 2008. Understanding Competitive and Contagion Effects of Layoff Announcements. Corporate Reputation Review, 11, 12–34.

    Article  Google Scholar 

  • Gombola, M.J. and Tsetsekos, G. 1992. Plant Closings for Financially Weak and Financially Strong Firms. Quarterly Journal of Business and Economics, 3(6), 69–83.

    Google Scholar 

  • Grant, R.M. 1991. The Resource-Based Theory of Competitive Advantage. Implications for Strategy Formulation. California Management Review, 33(3), 114–135.

    Article  Google Scholar 

  • Gunderson, M., Verma, A. and Verma, S. 1997. Impact of Layoff Announcements on the Market Value of the Firm. Relations Industrielles, 52(2), 364–381.

    Article  Google Scholar 

  • Hahn, T. and Reyes, M.G. 2004. On the Estimation of Stock-Market Reaction to Corporate Layoffs. Review of Financial Economics, 13(4), 357–370.

    Article  Google Scholar 

  • Hallock, K.F. 1998. Layoffs, Top Executive Pay and Firm Performance. American Economic Review, 88(4), 711–723.

    Google Scholar 

  • Hillier, D., Marshall, A.P., McColgan, P. and Werema, S. 2007. Employee Layoffs, Shareholder Wealth and Firm Performance: Evidence from the UK. Journal of Business Finance & Accounting, 34, 467–494.

    Article  Google Scholar 

  • Iqbal, Z. and Shetty, S. 1995. Layoffs, Stock Price, and Financial Condition of the Firm. Journal of Applied Business Research, 11(2), 67–73.

    Google Scholar 

  • Kashefi, J. and McKee, G.J. 2002. Stock Prices’ Reaction to Layoff Announcements. Journal of Business and Management, 8(2), 99–107.

    Google Scholar 

  • Kirsch, W. 1990. Unternehmenspolitik und strategische Unternehmensführung. Munich: Verlag Barbara Kirsch.

    Google Scholar 

  • Knyphausen-Aufseß, D. zu 1995. Theorie der strategischen Unternehmensführung. State of the Art und neue Perspektiven. Wiesbaden: Gabler.

    Google Scholar 

  • Lado, A. and Wilson, M. 1994. Human Resource Systems and Sustained Competitive Advantage: A Competency-Based Perspective. Academy of Management Review, 19(4), 699–727.

    Google Scholar 

  • Lee, P.M. 1997. A Comparative Analysis of Layoff Announcements and Stock Price Reactions in the United States and Japan. Strategic Management Journal, 18, 879–894.

    Article  Google Scholar 

  • Luhmann, N. 1996. Soziale Systeme. Grundriß einer allgemeinen Theorie (6th edition). Frankfurt am Main: Suhrkamp.

    Google Scholar 

  • MacKinlay, C. 1997. Event Studies in Economics and Finance. Journal of Economic Literature, 35(1), 13–39.

    Google Scholar 

  • McKnight, P.J., Lowrie, A. and Coles, C. 2002. Investor Reactions, Social Implications and Layoff Announcements in the UK: A Comparison between Periods. Journal of Management and Governance, 6(1), 83–100.

    Article  Google Scholar 

  • McWilliams, A. and Siegel, D. 1997. Event Studies in Management Research: Theoretical and Empirical Issues. Academy of Management Journal, 40(3), 626–657.

    Article  Google Scholar 

  • Mintzberg, H. 1990. Strategy formation. Schools of thought. In Fredrickson, J. (ed.), Perspectives on Strategic Management. Grand Rapids, MI: Harper Business, pp. 105–235.

    Google Scholar 

  • Nixon, R.D., Hitt, M.A., Lee, H.-U. and Jeong, E. 2004. Market Reactions to Announcements of Corporate Downsizing Actions and Implementation Strategies. Strategic Management Journal, 25, 1121–1129.

    Article  Google Scholar 

  • Palmon, O., Sun, H.-L. and Tang, A.P. 1997. Layoff Announcements: Stock Market Impact and Financial Performance. Financial Management, 26(3), 54–68.

    Article  Google Scholar 

  • Peterson, P.P. 1989. Event Studies: A Review of Issues and Methodology. Quarterly Journal of Business and Economics, 28(3), 36–66.

    Google Scholar 

  • Pfeffer, J. 1998. The Human Equation. Building Profits by Putting People First. Harvard Business School Press: Boston, MA.

    Google Scholar 

  • Pouder, R.W., Cantrell, R.S. and Kulkarni, S.P. 1999. The Influence of Corporate Governance on Investor Reactions to Layoff Announcements. Journal of Managerial Issues, 11(4), 475–492.

    Google Scholar 

  • Pouder, R.W., Hindman, H.D. and Cantrell, R.S. 2004. How Unions Affect Shareholder Wealth in Firms Announcing Layoffs. Journal of Labour Research, 25(3), 495–502.

    Article  Google Scholar 

  • Santomero, A. 1991. Money Supply Announcements: A Retrospective. Journal of Economics and Business, 43(1), 1–23.

    Article  Google Scholar 

  • Scott, B.G., Ueng, J., Ramaswamy, V. and Ching Liang, C. 2011. Layoff and Firm Long-Term Performance. Academy Of Strategic Management Journal, 10(2), 1–10.

    Google Scholar 

  • Sharpe, W.F. 1963. A Simplified Model for Portfolio Analysis. Management Science, 9(2), 277–293.

    Article  Google Scholar 

  • Strong, N. 1992. Modelling Abnormal Returns: A Review Article. Journal of Business Finance & Accounting, 19(4), 533–553.

    Article  Google Scholar 

  • Ursel, N. and Armstrong-Stassen, M. 1995. The Impact of Layoff Announcements on Shareholders. Relations Industrielles, 50(3), 636–650.

    Article  Google Scholar 

  • Venkatraman, N. 1989. The Concept of Fit in Strategic Management. Toward Verbal and Statistical Correspondence. Academy of Management Review, 14(3), 423–444.

    Google Scholar 

  • Wertheim, P. and Robinson, M. 2000. The Effect of a Firm’s Financial Condition on the Market Reaction to Company Layoffs. Journal of Applied Business Research, 16(4), 63–73.

    Google Scholar 

  • Willke, H. 1996. Systemtheorie I: Grundlagen. Eine Einführung in die Grundprobleme der Theorie sozialer Systeme (5th edition). Stuttgart: Lucius & Lucius.

    Google Scholar 

  • Worrell, D.L., Davidson III, W.N. and Sharma, V.M. 1991. Layoff Announcements and Stockholder Wealth. Academy of Management Journal, 34(3), 662–678.

    Article  Google Scholar 

Download references

Authors
  1. Ronny Manos
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Israel Drori
    View author publications

    You can also search for this author in PubMed Google Scholar

Editor information

Editors and Affiliations

  1. School of Business, College of Management Academic Studies (COMAS), Rishon LeZion, Israel

    Ronny Manos (Senior Lecturer in Finance) (Senior Lecturer in Finance)

  2. School of Business, College of Management Academic Studies (COMAS), Rishon LeZion, Israel

    Israel Drori (Professor of Management) (Professor of Management)

Copyright information

© 2016 Contributors

About this chapter

Cite this chapter

Manos, R., Drori, I. (2016). Corporate Social Action and Newspaper Media: The Role of Geopolitical Risk. In: Manos, R., Drori, I. (eds) Corporate Responsibility. Palgrave Macmillan, London. https://doi.org/10.1057/9781137450722_5

Download citation

Publish with us

Policies and ethics

Search

Navigation