We find that firms invest more to build up corporate social capital, as measured by corporate social responsibility (CSR) intensity, when facing high economic policy uncertainty (EPU). The results are robust to endogeneity concerns. The effects are more pronounced for firms in consumer-oriented...

Integrating law, economics and organization theory, the paper argues that important aspects of social responsibility (SR), figure among the raisons d’etre of the firm as an institution of modern economic and juridical systems. Furthermore, a nexus between SR and the uncertainty of consequences...

Drawing upon the notion that the legal environment provides the conceptual and practical space in which corporate actions are deemed to be responsible (or not), we examine the effect of regulatory uncertainty on Corporate Social Responsibility activity. Using a sample of US firms, we find that...