研討日期	2024年2月26日12:10-13:50
研討地點	國立臺灣大學社會科學院710會議室
主講題目 Title of the paper	Endogenous bifurcation into environmental CSR and non-environmental CSR firms by activist shareholders
作者 Authors of the paper	Yasunobu Tomoda, Yasunori Ouchida
文獻出處 Journal, vol.(issue), pp	Journal of Environmental Economics and Management Volume 122, October 2023, 102883
主講人	王光正教授
參加人員	黃鴻、林燕淑、彭正浩、郭文忠、高國峯、周冰瑤、施姵全、許至乙、Bui Dang-long、Suttiwan、Ayu Sasni Munte、Artah、Micah、楊雅棠、Chisomo、Anggoro、呂明權
	This paper proposes a new and simple partial equilibrium model in which environmental corporate social responsibility (ECSR) firms arise endogenously through changes in the composition of their shareholders. Our model has two types of shareholders: profit seekers who aim to maximize dividends from their equities and environmental activists who demand not only monetary profits but also environmental investments from firms. The objective function of firms is a weighted average of both types of shareholders' utilities, and its weight is the proportion of their shareholdings. As a result of equity trades in a perfect competitive market, firms bifurcate into ECSR and non-ECSR firms even if they were homogeneous at establishment.