Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/262714 
Year of Publication: 
2021
Series/Report no.: 
New Working Paper Series No. 312
Publisher: 
University of Chicago Booth School of Business, Stigler Center for the Study of the Economy and the State, Chicago, IL
Abstract: 
We explore how information exposure, specifically information transmission within organizations, facilitates companies' roles as corporate citizens. We study whether US firms' business networks with China and Italy become their information advantage, and examine whether firms use relevant information to mitigate the negative shocks of COVID-19. We start by validating our measurement of information exposure. Next, we find that a higher number of work-from-home ("WFH") policies, as evidenced by a higher stay-at-home ratio, are implemented in areas with more information-exposure companies, even before local governments impose a lockdown. To further demonstrate corporate citizenship, we document firms' positive social impact-lower COVID-19 growth and an influence on other firms' WFH policies-and show suggestive evidence on firms' social motives.
Subjects: 
Information exposure
information transmission
business networks
COVID
corporate citizenship
JEL: 
D83
D85
G3
M14
Document Type: 
Working Paper

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