RiseB researchers receive funding from the Torsten Söderberg Foundation
Tommy Lundgren and Rickard Olsson, Umeå School of Business and Economics and RiseB, have received funding of 876 000 SEK for their research project On the Economics of Corporate Social Responsibility.
CSR has become a vibrant and widespread field of research in the last 20 years. The number of studies is now so vast that there exists at least 10-15 literature reviews. Many empirical studies focus on the effects on the firm profitability of being socially responsible. To some extent there are also theoretical analyses of CSR, but this research is still in its infancy; more theoretical studies combined with econometric analysis are needed to understand the drivers behind CSR. Also, empirical studies of CSR need a stronger theoretical foundation than what we have seen in the literature so far.
Specifically, in the context of CSR, Tommy Lundgren and Rickard Olsson want to examine closer the role of preferences, uncertainty, causality, cost of capital, risk, and public policy. As we will show, these significant elements of the economics and finance research agenda are indeed closely linked to CSR.