Working Papers

The Debate over Doing Good: Corporate Social Performance and Firm-idiosyncratic Risk

Xueming Luo and C.B. Bhattacharya

Jan 1, 2008

Develops a multivariate model linking corporate social performance, advertising, and R&D to firm-idiosyncratic risk, and tests it using data for a sample of Fortune magazine’s “America’s Most Admired Companies” and from Compustat and the Center for Research in Security Prices.

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