Plausibly Exogenous [1144] - CSR (03/21/2023)
LHS Variable
Yield / Yield Spread / Amount Issued
RHS Variable
Adoption of Mandatory CSR Rule x Firm Affected (by rule)
Source of Exogenous Variation
Firms affected by the mandatory CSR rule, based on any of the three criteria, have to expense 2% of their net profit (average of last three years) to designated CSR activities.
- Aswani (2022), “Debt Markets Retort to Mandatory Corporate Social Responsibility”