Alison Sundgren’s research while affiliated with University of Massachusetts Amherst and other places

... While the state-endorsement coalition emphasizes how firms could receive positive acclaim for demonstrating philanthropy to society, they are more likely to promote this goal when the firms have achieved satisfactory profitability (McGuire et al., 1988;Waddock & Graves, 1997;Wang & Qian, 2011). This is because it allows them to shift management attention and firm resources from problemistic search toward long-term oriented actions such as CSR. ...

Reference:

Shareholder Satisfaction or Societal Benefit? Coalition Support and Goal Prioritization