Plausibly Exogenous [814] - CSR Policy (04/11/2022)
LHS Variable
Credit ratings
RHS Variable
CRS policy
Source of Exogenous Variation
Average CSR level of the surrounding firms as an instrument for the firm’s CSR policy
- Jiraporn, Jiraporn, Boeprasert, and Chang (2013), “Does Corporate Social Responsibility (CSR) Improve Credit Ratings? Evidence from Geographic Identification”