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This study seeks to examine the mechanisms by which a corporation's use of philanthropy affects its reputation for corporate social performance (CSP), which the authors conceive of as consisting of two dimensions: CSP awareness and CSP perception. Using signal detection theory (SDT), the authors model signal amplitude (the amount contributed), dispersion (number of areas supported), and consistency (presence of a corporate foundation) on CSP awareness and perception. Overall, this study finds that characteristics of firms' portfolio of philanthropic activities are a greater predictor of CSP awareness than of CSP perception. Awareness increases with signal amplitude, dispersion, and consistency. CSP perception is driven by awareness and corporate reputation. The authors' contention that corporate philanthropy is a complex variable is upheld, as we find that CSP signal characteristics influence CSP awareness and perception independently and asymmetrically. The authors conclude by proposing avenues for future research. [ABSTRACT FROM AUTHOR]

This study examines events at the conclusion of the 2006 stock option backdating scandal: the departures of C-level executives from firms implicated in backdating. The authors ask whether removing executives brings closure to the scandal, or if executive turnover creates greater uncertainty. Using a sample of 236 executive departures, the authors find that although overall market reaction to executive departures is negative, those departures involving a firm's CEO or CFO ameliorate the market reaction. The authors also find that market reaction worsens when the CEO "resigns," versus being terminated, and when the firm involved has been previously identified as socially responsible. Results suggest that firms, by shaping who and how executives depart, may amplify or dampen the damage of existing scandalizing events. [ABSTRACT FROM AUTHOR]

The most popular measure of corporate reputation is the ranking of the most admired companies. But what exactly do we admire in people and firms of good reputation? This article is about the ethical dimension of corporate reputation. It integrates the trait approach in personality psychology and philosophical ethics to the study of reputation and related concepts as a way to account for the discontinuities between reputation at the individual and corporate levels under conditions of uncertainty. Through an examination of the distinction between perceptions and grounding of reputation, the article also sheds light on the explanatory power of reputation concepts and critically appraises the possibility of character and organizational virtue. [ABSTRACT FROM AUTHOR]

A large body of literature looks at how firms develop and maintain their reputation. Little is known, however, about factors leading to a damaged corporate reputation. In this article, the authors compare two sets of predictors of reputational damage following a reported breach of norms: the characteristics of the breach and the characteristics of the actor reporting the breach. Theoretically, the authors argue that the latter is likely to prevail over the former. The authors test this proposition in the highly normative context of corporate social responsibility (CSR). Building on a global data set of over 8,600 CSR-related norm breaches, directed against 451 firms on the Fortune ranking reputation over the 2006-2009 period, the authors find empirical support for the idea that reputation damage is not really driven by the severity and novelty of the allegation, but by the type of source reporting the issue as well as the credibility of this source. Hence, these results lend some support to a socially constructed view of reputational damage, in which being portrayed by prominent actors as deviating from the norm is more important than the actual deviation from the goal of the norm itself. [ABSTRACT FROM AUTHOR]

Grounded in stakeholder theory and a resource-based view of the firm, this longitudinal research demonstrates the evolution of corporate social responsibility (CSR) and firm reputation over time. Drawing on a 5-year sample of 285 major U.S. firms obtained from the KLD database and Fortune's Most Admired Companies, we find that the proposed dynamic relationship predicts evolving stakeholder expectations to incite organizations to improve their social performance to earn reputational benefits. Contrary to the often labeled stickiness of reputation, we find a "Red Queen" effect that supports reputation as a dynamic construct where the change in CSR does predict a change in corporate reputation. Similarly, we find that the change in reputation over time varies by industry, being most pronounced for manufacturing. From a practical perspective, this relationship across time may incite managers to create sustainable competitive advantage by continuously investing in doing good to reap the benefits of looking good and looking even better with time. [ABSTRACT FROM AUTHOR]

Propensity score matching is a common tool for adjusting for observed confounding in observational studies, but is known to have limitations in the presence of unmeasured confounding. In many settings, researchers are confronted with spatially-indexed data where the relative locations of the observational units may serve as a useful proxy for unmeasured confounding that varies according to a spatial pattern. We develop a new method, termed distance adjusted propensity score matching (DAPSm) that incorporates information on units' spatial proximity into a propensity score matching procedure. We show that DAPSm can adjust for both observed and some forms of unobserved confounding and evaluate its performance relative to several other reasonable alternatives for incorporating spatial information into propensity score adjustment. The method is motivated by and applied to a comparative effectiveness investigation of power plant emission reduction technologies designed to reduce population exposure to ambient ozone pollution. Ultimately, DAPSm provides a framework for augmenting a "standard" propensity score analysis with information on spatial proximity and provides a transparent and principled way to assess the relative trade-offs of prioritizing observed confounding adjustment versus spatial proximity adjustment. [ABSTRACT FROM AUTHOR]

Importance: The US Environmental Protection Agency is required to reexamine its National Ambient Air Quality Standards (NAAQS) every 5 years, but evidence of mortality risk is lacking at air pollution levels below the current daily NAAQS in unmonitored areas and for sensitive subgroups.Objective: To estimate the association between short-term exposures to ambient fine particulate matter (PM2.5) and ozone, and at levels below the current daily NAAQS, and mortality in the continental United States.Design, Setting, and Participants: Case-crossover design and conditional logistic regression to estimate the association between short-term exposures to PM2.5 and ozone (mean of daily exposure on the same day of death and 1 day prior) and mortality in 2-pollutant models. The study included the entire Medicare population from January 1, 2000, to December 31, 2012, residing in 39 182 zip codes.Exposures: Daily PM2.5 and ozone levels in a 1-km × 1-km grid were estimated using published and validated air pollution prediction models based on land use, chemical transport modeling, and satellite remote sensing data. From these gridded exposures, daily exposures were calculated for every zip code in the United States. Warm-season ozone was defined as ozone levels for the months April to September of each year.Main Outcomes and Measures: All-cause mortality in the entire Medicare population from 2000 to 2012.Results: During the study period, there were 22 433 862 million case days and 76 143 209 control days. Of all case and control days, 93.6% had PM2.5 levels below 25 μg/m3, during which 95.2% of deaths occurred (21 353 817 of 22 433 862), and 91.1% of days had ozone levels below 60 parts per billion, during which 93.4% of deaths occurred (20 955 387 of 22 433 862). The baseline daily mortality rates were 137.33 and 129.44 (per 1 million persons at risk per day) for the entire year and for the warm season, respectively. Each short-term increase of 10 μg/m3 in PM2.5 (adjusted by ozone) and 10 parts per billion (10-9) in warm-season ozone (adjusted by PM2.5) were statistically significantly associated with a relative increase of 1.05% (95% CI, 0.95%-1.15%) and 0.51% (95% CI, 0.41%-0.61%) in daily mortality rate, respectively. Absolute risk differences in daily mortality rate were 1.42 (95% CI, 1.29-1.56) and 0.66 (95% CI, 0.53-0.78) per 1 million persons at risk per day. There was no evidence of a threshold in the exposure-response relationship.Conclusions and Relevance: In the US Medicare population from 2000 to 2012, short-term exposures to PM2.5 and warm-season ozone were significantly associated with increased risk of mortality. This risk occurred at levels below current national air quality standards, suggesting that these standards may need to be reevaluated. [ABSTRACT FROM AUTHOR]