Page 218 - 臺大管理論叢第32卷第2期

Directors’ and Officers’ Liability Insurance and Corporate Social Responsibility

The British Accounting Review, 45 (3): 215-228.
Morck, R., Shleifer, A., and Vishny, R. W. 1988. Management ownership and market valu-
ation: An empirical analysis. Journal of Financial Economics, 20: 293-315.
Naaraayanan, S. L., and Nielsen, K. M. 2021. Does personal liability deter individuals

from serving as independent directors?. Journal of Financial Economics, 140
(2): 621-643.
Nofsinger, J. R., Sulaeman, J., and Varma, A. 2019. Institutional investors and corporate
social responsibility. Journal of Corporate Finance, 58: 700-725.

Oesterle, D. A. 1989. The effect of statutes limiting directors’ due care liability on hostile
takeover defenses. Wake Forest Law Review, 24: 31-51.
O’Sullivan, N. 1997. Insuring the agents: The role of directors’ and officers’ insurance in
corporate governance. Journal of Risk and Insurance, 64 (3): 545-556.
________ . 2002. The demand for directors’ and officers’ insurance by large UK compa-
nies. European Management Journal, 20 (5): 574-583.

Peloza, J. 2006. Using corporate social responsibility as insurance for financial
performance. California Management Review, 48 (2): 52-72.
Priest, G. L. 1987. The current insurance crisis and Modern Tort Law. The Yale Law
Journal, 96 (7): 1521-1590.

Reverte, C. 2009. Determinants of corporate social responsibility disclosure ratings by
Spanish listed firms. Journal of Business Ethics, 88 (2): 351-366.
Rosenbaum, P. R., and Rubin, D. B. 1983. The central role of the propensity score in
observational studies for causal effects. Biometrika, 70 (1): 41-55.
________ . 1985a. Constructing a control group using multivariate matched sampling

methods that incorporate the propensity. American Statistician, 39 (1): 33-38.
________ . 1985b. The bias due to incomplete matching. Biometrics, 41 (1): 103-116.
Sen, S., and Bhattacharya, C. B. 2001. Does doing good always lead to doing better?
Consumer reactions to corporate social responsibility. Journal of Marketing

Research, 38 (2): 225-243.
Shen, C. H., and Chang, Y. 2009. Ambition versus conscience, does corporate social
responsibility pay off? The application of matching methods. Journal of
Business Ethics, 88 (supplement 1): 133-153.
Shiu, Y. M., and Yang, S. L. 2017. Does engagement in corporate social responsibility

210