Knowledge@wharton

Your mother probably told you that it pays to be nice but that may not necessarily be true when it comes to corporate philanthropy. Wharton finance professor Vinay B. Nair and Columbia University’s Raymond Fisman and Geoffrey Heal looked at whether being charitable -- such as donating money to medical research or to organizations that promote economic self-sufficiency -- helps a company’s financial picture. The answer: It all depends on the type of industry. See acast.com/privacy for privacy and opt-out information.