Media, Partisan Ideology, and Corporate Social Responsibility

78 Pages Posted: 4 Aug 2020 Last revised: 15 Oct 2024

See all articles by Mahsa Kaviani

Mahsa Kaviani

University of Delaware

Lily Y. Li

Villanova University

Hosein Maleki

Rutgers Business School - Rutgers University

Pavel G. Savor

DePaul University - Kellstadt Graduate School of Business; affiliation not provided to SSRN

Date Written: March 1, 2023

Abstract

We study the impact of partisan media on CSR ratings using the staggered expansion of Sinclair Broadcast Group, the largest conservative regional TV network. After Sinclair entry, CSR ratings of local firms decline across all dimensions: environmental, social, and governance. The effect operates through two mutually non-exclusive channels: shifts in ideology and reduction in local coverage. We provide evidence consistent with the first channel based on public opinion surveys, election results, and firms' political contributions. Consistent with the second channel, the effect is stronger for firms with higher customer awareness, low institutional ownership, in sin industries, and in Sinclair-dominated markets. 

Keywords: corporate social responsibility, partisan media, political ideology

JEL Classification: G34, D72, L82, M14

Suggested Citation

Kaviani, Mahsa and Li, Lily Yuanzhi and Maleki, Hosein and Savor, Pavel G., Media, Partisan Ideology, and Corporate Social Responsibility (March 1, 2023). Available at SSRN: https://ssrn.com/abstract=3658502 or http://dx.doi.org/10.2139/ssrn.3658502

Mahsa Kaviani

University of Delaware ( email )

20 Orchard Rd, Newark, DE
Newark, DE 19716
United States

Lily Yuanzhi Li

Villanova University ( email )

United States

Hosein Maleki (Contact Author)

Rutgers Business School - Rutgers University ( email )

Pavel G. Savor

DePaul University - Kellstadt Graduate School of Business ( email )

1 E. Jackson Blvd.
Chicago, IL
United States

affiliation not provided to SSRN

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