Table 4.
Pre-existing Resource Availability and Corporate Philanthropic Response
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| Dep. Var. = | Don_ Dum | Don_Amt | Don_Dum | Don_Amt |
| Panel A | ||||
| Confirmed[−3,−1] | − 0.001*** | − 0.005*** | − 0.001*** | − 0.006*** |
| (− 2.86) | (− 3.20) | (− 3.22) | (− 3.64) | |
| Confirmed[−3,−1] × Healthy | 0.002*** | 0.015*** | ||
| (3.09) | (3.49) | |||
| Confirmed[−3,−1] × HighCash | 0.002*** | 0.018*** | ||
| (4.39) | (5.07) | |||
| Constant | 0.007*** | 0.044*** | 0.007*** | 0.043*** |
| (10.63) | (10.73) | (10.28) | (10.32) | |
| Panel B | ||||
|
Confirmed[−3,−1]+ Confirmed[−3,−1] × Healthy |
0.001* | 0.011** | ||
| F − Value | 3.69 | 4.98 | ||
|
Confirmed[−3,−1]+ Confirmed[−3,−1] × HighCash |
0.001*** | 0.012*** | ||
| F − Value | 7.17 | 10.28 | ||
| Firm fixed effects | Yes | Yes | Yes | Yes |
| Date fixed effects | Yes | Yes | Yes | Yes |
| Obs | 176,645 | 176,645 | 176,645 | 176,645 |
| Adj. R2 | 0.010 | 0.011 | 0.011 | 0.011 |
The t-values (in parentheses) are based on heteroskedasticity-consistent standard errors clustered by firm
***, **, and * indicate significance at the 1%, 5%, and 10% levels, respectively (two-tailed)
Variables of interest are marked in bold