Access to Finance and Corporate Social Responsibility: Evidence from a Natural Experiment

Vanya Rusinova, Georg Wernicke

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    Abstract

    We provide causal evidence that investments into CSR are affected by firms’ prior financial performance. To establish causality, we make use of the exogenous variation in firm-level financial constraints induced by the passage of the AJCA of 2004. We further examine the sensitivity of CSR investments to financial constraints.
    Original languageEnglish
    Title of host publicationProceedings of the Seventy-sixth Annual Meeting of the Academy of Management : Making Organizations Meaningful
    EditorsJohn Humphreys
    Number of pages6
    Place of PublicationBriar Cliff Manor, NY
    PublisherAcademy of Management
    Publication date2016
    Pages1700-1705
    Article number17174
    DOIs
    Publication statusPublished - 2016
    EventThe Academy of Management Annual Meeting 2016: Making Organizations Meaningful - Anaheim, United States
    Duration: 5 Aug 20169 Aug 2016
    Conference number: 76
    http://aom.org/annualmeeting/

    Conference

    ConferenceThe Academy of Management Annual Meeting 2016
    Number76
    CountryUnited States
    CityAnaheim
    Period05/08/201609/08/2016
    Internet address
    SeriesAcademy of Management Proceedings
    ISSN2151-6561

    Keywords

    • Causality
    • Corporate Social Responsiblity
    • Financial constraints

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