Social Responsibility Does Not Mitigate Negative Market Response Due to Crisis, New Study Finds

(PhysOrg.com) -- Clients of the major accounting firm Arthur Anderson sustained negative stock-market returns following public announcement that the firm had shredded documents related to its infamous Enron audit in 2002. In a new study, a University of Arkansas accounting researcher reports that corporate social responsibility on the part of some of these firms did not prevent a drop in their market value following the Enron audit failure.

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<p><a href="http://www.physorg.com/news161532965.html">Social Responsibility Does Not Mitigate Negative Market Response Due to Crisis, New Study Finds</a></p> <p>(PhysOrg.com) -- Clients of the major accounting firm Arthur Anderson sustained negative stock-market returns following public announcement that the firm had shredded documents related to its infamous Enron audit in 2002. In a new study, a University of Arkansas accounting researcher reports that corporate social responsibility on the part of some of these firms did not prevent a drop in their market value following the Enron audit failure.</p>