... then uncovers this relationship is mediated through the mechanisms of equity-based incentive and analyst coverage. The conclusions of this paper hold even after a series of robustness tests, such as propensity score matching, Heckman two-stage method and two-stage least squares with instrumental variables...

... and potential directions for future research. Findings The review of existing research shows that several studies confirm a positive link between CSR performance and analyst coverage, suggesting that external monitoring through analysts incentivises companies to enhance their CSR engagement. Further...