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dc.contributor.authorCousins, PDen
dc.contributor.authorDutordoir, Men
dc.contributor.authorLawson, Bennen
dc.contributor.authorQuariguasi Frota Neto, Jen
dc.date.accessioned2019-08-28T23:30:27Z
dc.date.available2019-08-28T23:30:27Z
dc.date.issued2020-11en
dc.identifier.issn1526-5501
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/296216
dc.description.abstractWe examine the shareholder wealth effects of the adoption of the UK Modern Slavery Act 2015 (MSA). The MSA’s Transparency in Supply Chains clause introduced new reporting requirements mandating certain firms to provide an annual statement outlining how they identify and mitigate modern slavery in their business and supply chain. An event study of stock price reactions of UK firms covered by the MSA to eight events associated with its adoption provides no evidence of abnormal stock returns. We do, however, uncover significant cross-sectional differences in stock price reactions, with results suggesting that the MSA provides a competitive advantage to firms with a demonstrated track record of addressing slavery risk. We find no effects for pre-regulatory Corporate Social Responsibility disclosure levels on stock price reactions. Our findings highlight the economic value of maintaining socially responsible sourcing practices, and inform the current policy debate on the importance of greater transparency in corporate supply chains.
dc.publisherInstitute for Operations Research and the Management Sciences
dc.rightsAll rights reserved
dc.rights.uri
dc.subjectModern Slavery Acten
dc.subjectsupply chain transparencyen
dc.subjectevent studyen
dc.subjectsocially responsible sourcingen
dc.subjectCSR disclosureen
dc.titleShareholder wealth effects of modern slavery regulationen
dc.typeArticle
prism.endingPage5484
prism.issueIdentifier11en
prism.publicationDate2020en
prism.publicationNameManagement Scienceen
prism.startingPage4921
prism.volume66en
dc.identifier.doi10.17863/CAM.43261
dcterms.dateAccepted2019-07-17en
rioxxterms.versionofrecord10.1287/mnsc.2019.3456en
rioxxterms.versionAM
rioxxterms.licenseref.urihttp://www.rioxx.net/licenses/all-rights-reserveden
rioxxterms.licenseref.startdate2020-11en
dc.contributor.orcidLawson, Benn [0000-0002-8489-1984]
dc.identifier.eissn1526-5501
rioxxterms.typeJournal Article/Reviewen
cam.issuedOnline2020-05-26en
cam.orpheus.successTue Jun 30 14:34:48 BST 2020 - Embargo updated*
cam.orpheus.counter10*
rioxxterms.freetoread.startdate2020-05-26


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