Attig, Najah; Cleary, Sean; Ghoul, Sadok; Guedhami, Omrane - In: Journal of Business Ethics 121 (2014) 2, pp. 297-314
This study provides novel evidence of the impact of corporate social responsibility (CSR) on investment sensitivity to cash flows. We posit that CSR affects investment–cash flow sensitivity (ICFS) through information asymmetry and agency costs, commonly viewed as the two channels through which...