一、主題：Corporate Social Responsibility in Supply Chain: Green or Greenwashing?

二、主講人：張宇

張宇現任北京大學光華管理學院金融學系助理教授，博士生導師，主要研究領域為房地産、家庭金融、宏觀金融、供應鍊與金融，2017年于美國普林斯頓大學經濟系本德海姆金融中心獲博士學位。其多篇學術論文正在Review of Financial Studies，Management Science，Review of Economics and Statistics等期刊複審。

三、時間：2021年5月12日（星期三）上午10:00-11:30

地點：沙河校區學院樓3号樓127會議室

四、主持人： 姜富偉教授，bevictor伟德官网金融工程系主任

五、内容簡介

摘要：公司的企業社會責任（CSR）形象不僅取決于自身，也取決于其已知的供應商。本文提供了将企業社會責任與供應鍊信息披露相聯系在一起的首個經驗證據：企業通過自願公開對環境負責的供應商而“掩蓋”了不良的供應商。進一步發現，企業對環境友好的供應商選擇性披露（“供應鍊漂綠”）的程度受異常溫度的外源變化而影響，支持對這一發現的因果解釋。面臨更激烈競争，更在乎其品牌知名度的公司，更受利潤驅動，以及由機構投資者持有更多股份的公司，其“供應鍊漂綠”現象更為普遍。實施強制性的CSR披露政策後，“供應鍊漂綠”行為能夠得以緩解。最後，選擇性披露環境友好供應商的企業，其營收會在短期内得以增長。

Abstract: Perception regarding a focal firm’s corporate social responsibility (CSR) depends not only on itself but also on its known suppliers. This paper provides the first empirical evidence linking CSR and supply chain information disclosure together. Specifically, it uncovers robust evidence that firms greenwash their CSR image via voluntarily disclosing environmentally responsible suppliers while concealing “bad” ones. Exogenous variations in abnormal temperatures around the world drive variations in the selective disclosure of “good” suppliers, supporting a causal interpretation of our finding. Supply chain greenwashing is more prevalent for firms who face higher competition, care more about their brand awareness, and for firms that are more profit-driven and held more by institutional investors. The greenwashing behavior mitigates after implementing mandatory CSR disclosure policies. Finally, firms who greenwash supply chains observe increase in sales, but only for the short-term.