deviation reduces CSR investments by about 8.22%. Further analysis shows that managers raised CSR investments during the crisis …, consistent with the risk-mitigation view, where managers invest in CSR to reduce their risk exposure. However, managers appear to … of the CSR investments during the crisis is motivated by managers' own risk preference. Additional robustness checks …

which managers instead of markets allocate resources, including social expenditures. The theory focuses jointly on the … encompass social performance. First, consumers may reward the firm for its social expenditures; second, managers may have … management compensation in increasing in corporate social expenditures. In the theory firms with higher ability managers have …

We study whether firm managers’ physical appearance affects their decisions on corporate philanthropy. Examining a … large sample of corporate donations matched with managers’ attractiveness data, we find that male managers’ motivations for … philanthropic giving are driven by their physical attractiveness. In contrast to managers with average looks, attractive managers do …