Working Papers

How Corporate Social Performance Influences Financial Performance: Cash Flow and Cost of Capital

Manoj K. Agarwal and Guido Berens

Jan 1, 2009

Provides and tests a framework to show how corporate social performance affects cash flow, cost of equity (market risk and firm-specific risk), cost of debt (debt ratings), and company value; uses data on U.S. firms from 1995 to 2005.

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