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Corporate social responsibility, allegation of corruption, and media sentiment

Author

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  • Suresh Kalagnanam
  • Abhilash Nair

Abstract

This study examines the two possible effects of CSR on reputation - the insurance like effect and the boomerang effect - within the context of a uniform integrity-questioning negative event through the eyes of the media. Accordingly, we tested whether prior CSR engagement prompts media to give the firm the benefit of doubt when it is accused of 'grand corruption'. We estimated media sentiment using textual analysis on 45,000 media reports covering firms allegedly involved in 'grand corruption'. The study's findings provide no evidence of CSR providing insurance like effect, particularly in the context of integrity-based negative events. In contrast, our results appear to support the idea of the boomerang effect or a punishment for irresponsible behaviour.

Suggested Citation

  • Suresh Kalagnanam & Abhilash Nair, 2024. "Corporate social responsibility, allegation of corruption, and media sentiment," International Journal of Business Governance and Ethics, Inderscience Enterprises Ltd, vol. 18(6), pages 627-650.
    • Handle: RePEc:ids:ijbget:v:18:y:2024:i:6:p:627-650
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