ArticleFinance research letters2022
Corporate social performance and firm debt levels: Impacts of the covid-19 pandemic and institutional environments.
Article in Finance research letters, 2022. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Not yet cited in PubMed.
What it found
Each row is one number read from the abstract, on the scale the paper reported it, with its interval. Left of the dashed line favours the treatment, right favours the comparator. Under each row is the sentence it came from. New to these charts? A ten-minute tutorial.
The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
The trial behind it
Trials whose registry record cites this paper, or whose number appears in the abstract. A trial that started after this paper was published is citing it as background, not reporting it.
Neither the registry nor the abstract names a trial number. If this is a trial report, that itself is worth knowing.
Who cites it
0 citing papers in PubMed.
No citing paper in PubMed yet.
Corrections and comments
PubMed lists nothing against this paper. Absence here is not a guarantee, only a check that was made.
Authors and funding
2 authors.
Funding
No grant is acknowledged in the PubMed record.
Abstract
This paper examines the relation between corporate social performance (CSP) and firm debt levels and explores the channels between them by focusing on the ongoing health crisis, the COVID-19 pandemic. We use a large sample of public firms from 31 countries between 2002 and 2020. Employing pooled ordinary least squared and firm fixed effects models, after controlling for endogeneity and sample selection bias, we find that during the pre-COVID economic condition, CSP has a significantly positive impact on firm debt levels by reducing financial constraints and enhancing stakeholder engagement. However, during the outbreak, CSP becomes costlier and reveals more managerial agency problems for firms that make such associations attenuated. Furthermore, our evidence suggests that in countries with better institutional environments, the CSP-firm debt levels relation is less pronounced. These results have several implications in terms of investment and capital structure decisions.
Indexed as
Identifiers
What OpenQuestion holds
Registered trials
Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.