This paper conducts an empirical analysis of the relationship between corporate social responsibility (CSR) and political beliefs in the United States. By analyzing the 2004 presidential election results of communities in which corporate headquarters are located, we establish a correlation between the political beliefs of corporate stakeholders and the CSR ratings of their firms. Companies with a high CSR rating tend to be located in Democratic, or "blue" states and counties, while companies with a low CSR rating tend to be located in Republican, or "red" states and counties. Copyright (c) 2008, The Eastern Finance Association.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.