Manager See Manager Do: The Impact of Geographic Herding on Corporate Social Responsibility

Nofsinger, John R.; Patterson, Fernando; Shank, Corey A.

doi:10.2139/ssrn.4009323

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Manager See Manager Do: The Impact of Geographic Herding on Corporate Social Responsibility

Nofsinger, J., Patterson, F., & Shank, C. (2022). Manager See Manager Do: The Impact of Geographic Spillover on Corporate Social Responsibility. International Journal of Managerial Finance

25 Pages Posted: 30 Mar 2022 Last revised: 1 Feb 2023

See all articles by John R. Nofsinger

Fernando Patterson

North Carolina Central University (NCCU)

Corey A. Shank

Miami University

Date Written: January 15, 2022

Abstract

This paper examines the geographic herding behavior of Corporate Social Responsibility (CSR). We find a comovement between local firms' CSR scores operating in the same industry after controlling for known regional determinants. Furthermore, our results are most robust for firms headquartered in concentration areas, suggesting that local firms set similar CSR policies to attract top local talent. Overall, these results show that location significantly impacts firm CSR behavior.

Keywords: Herding, Corporate Social Responsibility

JEL Classification: G30, L20, R30

Suggested Citation: Suggested Citation

Nofsinger, John R. and Patterson, Fernando and Shank, Corey, Manager See Manager Do: The Impact of Geographic Herding on Corporate Social Responsibility (January 15, 2022). Nofsinger, J., Patterson, F., & Shank, C. (2022). Manager See Manager Do: The Impact of Geographic Spillover on Corporate Social Responsibility. International Journal of Managerial Finance , Available at SSRN: https://ssrn.com/abstract=4009323 or http://dx.doi.org/10.2139/ssrn.4009323