SSRN-Financial Constraints on Corporate Goodness by Harrison Hong, Jeffrey Kubik, Jose Scheinkman

SSRN-Financial Constraints on Corporate Goodness by Harrison Hong, Jeffrey Kubik, Jose Scheinkman: "Goodness is costly and its marginal benefit is finite; as a result, less-constrained firms spend more on goodness. We verify that less-constrained firms do indeed have higher social responsibility scores. Our empirical analysis addresses identification issues that have long plagued the corporate