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This chapter investigates how firms’ external stakeholder engagement affects their financial performance. A Firm’s Corporate Social Responsibility (CSR) initiatives for corporate sustainability can determine organizational governance capability to avoid biased disclosure from a myopic management viewpoint. We focus on the quality of accounting earnings reports and management earnings forecast inaccuracies. We examine whether CSR intensity (as a proxy of managers’ CSR awareness) affects market valuation by influencing disclosure bias. Our findings reveal that firm’,s responsible external stakeholder engagement retains myopic investment in capital market.

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Managers’ CSR Awareness and Disclosure Quality

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  • 发表日期：

    2025年

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  • Megumi Suto,
  • Hitoshi Takehara

摘要

This chapter investigates how firms’ external stakeholder engagement affects their financial performance. A Firm’s Corporate Social Responsibility (CSR) initiatives for corporate sustainability can determine organizational governance capability to avoid biased disclosure from a myopic management viewpoint. We focus on the quality of accounting earnings reports and management earnings forecast inaccuracies. We examine whether CSR intensity (as a proxy of managers’ CSR awareness) affects market valuation by influencing disclosure bias. Our findings reveal that firm’,s responsible external stakeholder engagement retains myopic investment in capital market.