AI 中文总结
该研究利用支付卡交易数据，发现消费者会因与企业社会立场的契合度调整消费，这种反应会激励企业采取契合消费者与员工社会偏好的立场。
AI 中文摘要
我们研究个体的消费决策在多大程度上受到企业在有争议社会问题上的立场以及企业采取此类立场的隐含动机的影响。我们使用某大型支付卡公司的交易数据来预测持卡人可能与企业立场的社会契合度，并量化其对消费的影响。企业采取的社会立场平均而言会增加收入，且在消费者和企业立场之间存在显著异质性。与企业社会立场最契合的消费者在广为人知的社会立场事件发生后的一个月内，在该企业的消费增加了19%，而最反对该企业立场的消费者则减少了12%。这些不同的消费反应会随时间减弱，但即使一年后仍然存在。企业倾向于采取与其消费者和员工的社会偏好相一致的立场，且这些立场与企业的所有权结构相关。综上，我们的结果表明，消费者会对其与企业的社会契合度做出有意义的反应，且这种消费者反应可以激励追求利润最大化的企业参与社会问题。
英文摘要
We study the extent to which individuals' consumption decisions are influenced by firms' stances on controversial social issues and the implied incentives for firms to take such stances. We use transactions from a major payment card company to predict cardholders' likely social alignment with firm stances and to quantify effects on consumption. The social stances taken by firms increase revenue on average, with significant heterogeneity across consumers and firm stances. Consumers most aligned with a firm's social stance increase their consumption at the firm by 19 percent in the month following widely known social stance events, and consumers most opposed to the firm's stance decrease their consumption by 12 percent. These diverging consumption responses attenuate over time but persist even a year later. Firms tend to take stances that align with their consumers' and employees' social preferences and that correlate with the firm's ownership structure. Together, our results show that consumers meaningfully respond to their social alignment with firms, and that this consumer response can incentivize profit-maximizing firms to engage with social issues.
