Proactive corporate social responsibility and financial performance
In this study, I examine the dynamic relationship between proactive social responsibility and financial performance. Further, I address the issue of reverse causality and other sources of endogeneity by employing a dynamic panel model with a system generalized methods of moments regression. A sample of 6,528 observations across a total of 18 years of data is the foundation of my analysis. The results suggest that companies experience an immediate negative effect on financial performance from...[Show more]
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