Eric Girardin : eric.girardin[at]univ-amu.fr
Christelle Lecourt : christelle.lecourt[at]univ-amu.fr
We investigate whether Corporate Social Responsibility (CSR) compliant procurement activities reduce firm exposure to supply chain disruptions. The Suez Canal obstruction in March 2021 by the Ever Given container ship provides the needed exogenous shock. We collect measures of intensity of firms’ CSR procurement activities in the Refinitiv ESG database for a large sample of European listed firms accounting for more than sixty percent of the Euro STOXX Total Market index capitalization. Using a differences-in-differences approach, our results indicate that CSR active firms suffer significantly less from supply chain disruptions. This result resists to several robustness checks and identifies a new channel through which CSR activities contribute to firm value creation.