98 Pages Posted: 2 Dec 2020 Last revised: 1 Feb 2021
Date Written: January 30, 2021
We conduct large-scale surveys of U.S. citizens aimed at measuring perceptions of large corporations’ environmental, social, and governance practices and investigate how these perceptions affect the public support for economic policies. The public demands corporations to behave better within society, a sentiment we label “big business discontent.” We experimentally vary individual perceptions through animated videos highlighting corporations’ role in society and by changing the order of survey sections. We show that higher big business discontent lowers support for corporate bailouts. The effects persist after a week, are reflected in costly behavioral actions, and span the full political spectrum.
Keywords: big business, corporations, information experiment, economic policies, ESG, beliefs, bailouts
JEL Classification: G34,G38, D63, D72, M14
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