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 … find that CSR performance leads to a decrease in ICFS. We further find that ICFS decreases (increases) when CSR strengths …