The DOI matches its Crossref record; 30 of the 30 references it cites were found in a registry or an index.
Agency Problems of Corporate Philanthropy
Open accessAbstract
Evaluating agency theory and optimal contracting theory views of corporate philanthropy, we find that as corporate giving increases, shareholders reduce their valuation of firm cash holdings.Dividend increases following the 2003 Tax Reform Act are associated with reduced corporate giving.Using a natural experiment, we find that corporate giving is positively (negatively) associated with CEO charity preferences (CEO shareholdings and corporate governance quality).Evidence from CEO-affiliated charity donations, market reactions to insider-affiliated donations, its relation to CEO compensation, and firm contributions to director-affiliated charities indicates that corporate donations advance CEO interests and suggests misuses of corporate resources that reduce firm value.
Overview
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
Claims other papers make about this one
Each is checked against this paper’s own text: does it say what the citing paper says it does?
In the citing paper
“In addition, managers may use CSR to pursue personal goals or for their private benefit, in which case CSR gives rise to an agency problem (e.g., Masulis and Reza 2015).”
From Mandatory CSR and sustainability reporting: economic analysis and literature review (2021) · cites this paper as Masulis and Reza 2015
Citations
Cites
Theory of the firm: Managerial behavior, agency costs and ownership structure
Jensen, M. C., & Meckling, W. H. (1976) · Journal of Financial Economics · doi:10.1016/0304-405x(76)90026-x · Cited by 71,491
Separation of Ownership and Control
Fama, E. F., & Jensen, M. C. (1983) · The Journal of Law and Economics · doi:10.1086/467037 · Cited by 19,914
Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers
Jensen, M. C. (1986) · Cited by 17,275
Agency Problems and the Theory of the Firm
Fama, E. F. (1980) · Journal of Political Economy · doi:10.1086/260866 · Cited by 10,543
Higher market valuation of companies with a small board of directors
Yermack, D. (1996) · Journal of Financial Economics · doi:10.1016/0304-405x(95)00844-5 · Cited by 6,659
Corporate Governance and Equity Prices
Gompers, P., Ishii, J., & Metrick, A. (2003) · The Quarterly Journal of Economics · doi:10.1162/00335530360535162 · Cited by 6,120
What Matters in Corporate Governance?
Bebchuk, L., Cohen, A., & Ferrell, A. (2009) · Review of Financial Studies · doi:10.1093/rfs/hhn099 · Cited by 2,906
Individual and Corporate Social Responsibility
BÉNABOU, R., & TIROLE, J. (2010) · Economica · doi:10.1111/j.1468-0335.2009.00843.x · Cited by 2,237
Partial adjustment toward target capital structures
Flannery, M. J., & Rangan, K. P. (2005) · Journal of Financial Economics · doi:10.1016/j.jfineco.2005.03.004 · Cited by 2,053
The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems
JENSEN, M. C. (1993) · The Journal of Finance · doi:10.2307/2329018 · Cited by 1,666
Research works printed but not linked: 7
- Altschuller, 2010, Distinctions with differences: The lawyer's role in distinguishing CSR and corporate philanthropy, International Law News, 39, 11
- Bebchuk L. Fried J. Pay without performance: The unfulfilled promise of executive compensation. Cambridge and London: Harvard University Press; 2004.
- Chetty, 2005, Dividend taxs and corporate behavior: Evidence from the 2003 dividend tax cut, Quarterly Journal of Economics, 3, 791
- Cohen, 2002, Corporate giving: De-cloaking stealth philanthropy, Nonprofit Quarterly, 9, 47
- Hermalin, 1998, Endogenously chosen board of directors and their monitoring of the CEO, American Economic Review, 88, 96
- KrÜger P. Corporate goodness and shareholder wealth. Journal of Financial Economics. Forthcoming.
- Monk R. A. G. Minow N. Corporate governance. 3rd. Hoboken, NJ: Wiley; 2004.
Cited by
Sorted by citations
Items 801–900 of 999
Qualitative Assessment of Sustainability Reports
Lim, E. W. K. (2020) · Cambridge University Press eBooks · doi:10.1017/9781108658508.011
Proportion of Female Directors
Lim, E. W. K. (2020) · Cambridge University Press eBooks · doi:10.1017/9781108658508.013
Top Fifty Listed Companies in Each of the Four Jurisdictions
Lim, E. W. K. (2020) · Cambridge University Press eBooks · doi:10.1017/9781108658508.010
Lim, E. W. K. (2020) · Cambridge University Press eBooks · doi:10.1017/9781108658508.004
Lim, E. W. K. (2020) · Cambridge University Press eBooks · doi:10.1017/9781108658508.009
Lim, E. W. K. (2020) · Cambridge University Press eBooks · doi:10.1017/9781108658508.001
Corporate Governance Mechanisms and the Practice of Sustainability Activities in Nigeria
Sani, A. B., Kao’je, N. A., & Babangida, M. A. (2022) · Asian Research Journal of Arts & Social Sciences · doi:10.9734/arjass/2022/v16i130274
Research on the Impact of Listed Companies’ Incentive Policies on Corporate Social Responsibility
Cai, J., Zhang, Y., Guo, H., Baker Tilly China Certified Public Accountants, C. A., & Guo, X. (2022) · Journal of Innovation and Social Science Research · doi:10.53469/jissr.2022.09(03).19
Three essays on corporate finance
Jin, Y. (2022) · doi:10.32657/10356/156831
The Reputational Costs of Corporate Environmental Misconducts: Evidence from ChinaPreprint
Hossain, M., Wang, L., & Yu, J. (2022) · SSRN Electronic Journal · doi:10.2139/ssrn.4063491
Rational Apathy: Unveiling the Hidden Consequences of Workplace AutomationPreprint
Pukthuanthong, K., Wei, Z., Zhang, A., & Zhao, P. T. (2021) · SSRN Electronic Journal · doi:10.2139/ssrn.3983949
Health and safety regulations and stock returns: evidence from the 1974 Swedish legislative lottery
Siming, L. (2022) · Financial History Review · doi:10.1017/s0968565022000087
Wagner, E. (2022) · Springer eBooks · doi:10.1007/978-3-658-35169-4_13
Fich, E. M., & Xu, G. (2021) · SSRN Electronic Journal · doi:10.2139/ssrn.3980416 · Cited by 1
Shareholder Implications of Anti-ESG News: Evidence From the 100 Most Overpaid CEOsPreprint
Barnes, S. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4370832
고객기업의 ESG 성과가 공급기업의 매출집중도와 기업가치에 미치는 영향*
Hwang, J., 정, 동., & 김, 현. (2023) · Korean Accounting Journal · doi:10.24056/kaj.2022.10.002
Lawyers in the Boardroom and Firm Environmental PerformancePreprint
An, J., Duan, T., Hou, W., Liu, X., & Zhao, R. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4404803
Liu, L., Wu, Y., & Gan, J. (2023) · Advances in Applied Sociology · doi:10.4236/aasoci.2023.134017
Edmans, A. (2023) · Dunod eBooks · doi:10.3917/dunod.edman.2023.01.0459
Employment Nondiscrimination Acts and Corporate Social ResponsibilityPreprint
Chang, X., Jin, Y., Yang, E., & Zhang, L. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4465220
Shareholder Implications of Anti-Esg News: Evidence from the 100 Most Overpaid CEOSPreprint
Barnes, S. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4474327
Natalie, V., Eriandani, R., & Rudiawarni, F. A. (2023) · Akurasi Jurnal Studi Akuntansi dan Keuangan · doi:10.29303/akurasi.v6i1.324
O desempenho das empresas brasileiras com melhor atuação socioambiental na crise da COVID-19
Castro, F. H., & Garcia, P. P. (2023) · Brazilian Review of Finance · doi:10.12660/rbfin.v21n2.2023.88813
The Social Costs of Political Divide: Evidence from the Impact of Polarization Risk on CSRPreprint
Attig, N., & Hossain, A. T. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4500829
Socially Responsible Corporate NetworksPreprint
Carter, D., Hupka, Y., & Shank, C. A. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4502649
Xiang, C., Xin, Z., Wang, Q., & Feng, L. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4518353
Financial and Non-Financial Risk Management: Evidence from Labor Law ViolationsPreprint
Laguna, M.-A., & Williams, R. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4537240
Does being a responsible bank pay off? Evidence from the COVID-19 pandemicPreprint
Kara, A., Ongena, S. R. G., & Yıldız, Y. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4565590
Fundamental-Driven CSR Return ComovementPreprint
Lin, Y.-H., Chen, H., & Chen, S. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4573028
Do Major Customers Affect Suppliers' ESG Activities?Preprint
Dong, F., Doukas, J. A., Zhang, R., Walton, S., & Zhang, Y. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4577271
The market for general counsel
Aggarwal, D. C. (2023) · Journal of Empirical Legal Studies · doi:10.1111/jels.12366
CSR Scores Versus Actual Impacts: Banks’ Main Street Lending During the Great RecessionPreprint
Choi, D. B., & Jeong, S. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4590904
Board gender diversity and sustainability performance & disclosure
Moreira, M. F. A. (2023) · doi:10.14201/gredos.153208
Dickson, B. A. (2023) · Balsillie Papers · doi:10.51644/bap55
How does management respond to stock price crashes?
Roy, S., Marshall, B. R., Nguyen, H. T., & Visaltanachoti, N. (2023) · International Journal of Managerial Finance · doi:10.1108/ijmf-05-2023-0250
Effects of CSR On Audit Fees: The Role of Economic Policy UncertaintyPreprint
Wang, J., & Wang, Y. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4649098
CSR Scores Versus Actual Impacts: Banks’ Main Street Lending During the Great RecessionPreprint
Choi, D. B., & Jeong, S. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4659278
The Corporate Payout Puzzle: About the Payout Policy between CSR and CsiPreprint
Sparrer, C., & Laschinger, R. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4666772
Halit Gonenc, B., & Kartal, D. (2024) · Springer eBooks · doi:10.1007/978-3-031-48457-5_12
The Influence of MNE's Local Reputation on the Financial Rents from Responding to Large DisastersPreprint
Ballesteros, L. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4721289
ESG Performance’s Effect on the Firm Performance the Evidence from Chinese A-share Market
Dong, L. (2024) · Applied economics and policy studies · doi:10.1007/978-981-97-0523-8_66
Donations in the DarkPreprint
Andreicovici, I., Cohen, N., Ghio, A., & Paugam, L. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4743937
Walking the Walk: Corporate Social Responsibility and Product Recalls in the Automotive Industry
Jebari, F., Lozano, O. I., Krishnaswami, S., & Lutey, M. (2024) · International Journal of Finance · doi:10.47941/ijf.1733
Boakye, M. A., Elbardan, H., Konadu, R., & Bempah, N. D. O. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4767295
Reputation Capital and Corporate Decoupling: An Empirical Study of the Russian Invasion of UkrainePreprint
Wan, K.-M., Choy, S. K., & Lai, T. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4770606
Chhaochharia, V., Sen, R., & Xu, J. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4744386
Giving Beyond Borders: Corporate Bribery and Philanthropic Giving OverseasPreprint
Jia, W., Tsang, A., Yu, D. B., & Zhao, J. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4762883
de Carvalho, J. R. M., Cunha, V. F., Holanda, F. M. D. A., Ney, O. F., & Pereira, R. D. S. (2024) · Cuadernos de Educación y Desarrollo · doi:10.55905/cuadv16n4-091
Does ESG Performance Reduce the Company's Dependence on Major Customers? Evidence from ChinaPreprint
Xu, W., Yin, Y., & Peng, J. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4796443
Aligning Incentives for Social Responsibility: Evidence from Performance-Contingent Equity AwardsPreprint
Fu, X., & Tang, T. J. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4806728
Board governance drivers of corporate sustainability levels in private firms: evidence from SwedenPreprint
Huq, A. M., Cieślak, K., & Sundberg, K. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4811974
THE EFFECTS OF LOCAL SHAREHOLDERS ON FIRM PERFORMANCE: EVIDENCE FROM CORPORATE SOCIAL RESPONSIBILITY
Hwang, H. D., & Kim, H. G. (2024) · Applied Finance Letters · doi:10.24135/afl.v13i.718
Nanjing: Tax Information and Corporate Environmental InvestmentPreprint
Zhang, J., Wang, N., Wu, W., & Zhu, X. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4828997
Corporate Social Responsibility and Financial Information Quality
Yan, S. (2024) · Journal of Business and Economic Studies · doi:10.53462/vol28i1a5
An assessment of CSR disclosures in Polish listed companies
Węgrzyńska, M. (2024) · Argumenta Oeconomica · doi:10.15611/aoe.2024.1.14
The Impact of Corporate Philanthropy on Optimising Unequal Allocation of Social Resources
Zhang, R. (2024) · SHS Web of Conferences · doi:10.1051/shsconf/202419301033
Is More CSR Always Better? Evidence from Mandatory CSR Regulation and Credit RatingsPreprint
Yadav, N., & Kumar, S. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4862722
R&D and Financial Performance: The Role of ESG PerformancesPreprint
Zhang, J., Zhang, J., Zhang, J. E., & Ruan, X. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4862892
Jawad, M., & Naz, M. (2024) · Journal of Sustainable Finance & Investment · doi:10.1080/20430795.2024.2368184
Do investors value DEI? Evidence from the Stop WOKE ActPreprint
Briscoe-Tran, H. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4865475
miao, S. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4890487
Horizon to sustainability: CEO incentive duration and corporate social responsibility
Fu, X., Shen, R., Tang, T. J., & Yan, X. (2026) · The British Accounting Review · doi:10.1016/j.bar.2026.101947 · Cited by 4
The Role of Artificial Intelligence in Environment Social Governance Disclosure
Sharma, P., & Banerji, P. (2024) · ANVESHAK-International Journal of Management · doi:10.15410/aijm/2024/v13i1/173193
Peer Effects of Corporate ESG Activities: Evidence from Mandatory ESG Disclosure RegulationsPreprint
Yu, D. B., Tsang, A., Zhao, J., & Jia, W. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4907333
SMEs' Environmental Attributes and Performance: A Data Integration ApproachPreprint
Moretti, A., Santi, C., & Mernier, L. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4924705
The role of financial flexibility in corporate cash donations
Lu, C., Yang, H.-H., & Yeh, C.-W. (2024) · Pacific-Basin Finance Journal · doi:10.1016/j.pacfin.2024.102559
The Agency of Corporate SustainabilityPreprint
Ghitti, M., Gianfrate, G., & Reccagni, E. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4994939
Does an increase of board compensation boost the corporate philanthropy: an empirical study
Idasz-Balina, M., Balina, R., & Achsani, N. A. (2024) · Cogent Economics & Finance · doi:10.1080/23322039.2024.2416990
Corporate Social Responsibility (CSR) based compensation and share repurchasesPreprint
Ta, H., & Nguyen, D. T. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4971527
Value relevance of cost of environmental damage
Arthur, J. (2024) · Studies in Economics and Finance · doi:10.1108/sef-05-2024-0300
de Carvalho, J. R. M. (2024) · Revista Evidenciação Contábil & Finanças · doi:10.22478/ufpb.2318-1001.2023v11n3.66939
Corporate Sexual Orientation Equality and Default RiskPreprint
Hui, S., Hu, W., & Chan, K. F. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.5033888
The Evolution of Public Companies’ Corporate Social Responsibility
Chen, M., & Niu, X. (2024) · Quarterly Journal of Finance · doi:10.1142/s2010139224500137
Common Shareholders Along Supply Chain and Suppliers’ ESG Performance: Evidence from ChinaPreprint
Xu, Y., Deng, F., & Feng, Q. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.5041624 · Cited by 1
Not in My Backyard: Intrinsic Motivation and Corporate Pollution AbatementPreprint
Andrikogiannopoulou, A., Ventouri, A., & Yonker, S. E. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.5045768
Household Income Shocks and the Demand for Sustainable ProductsPreprint
Ferreira, M. A. M. M., Pires, P. M. A., Soares, M., & Trindade, A. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.5027311
To Woke or Not: Corporate Woke Engagement and Financial OutcomesPreprint
Peltomäki, J., Hoang, K. C. G., Nguyen, C. C., & Zhang, Y. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.5011737
Scale and Scope: Investigating the Idiosyncrasy of CSR StrategiesPreprint
Liu, X., & Lu, H. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.5056483
Does ESG divergence discourage firms from hoarding bad news? Evidence from crash riskPreprint
Chen, M., & Sun, Y. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.5051791
Local mutual funds, corporate community investment and shareholder value
Hwang, H. D., Kim, H. G., & Kim, J. Y. (2024) · Asian Review of Accounting · doi:10.1108/ara-02-2024-0040
The Effect of ESG Responsibility Performance on Value Creation of Strategic AlliancesPreprint
Wang, X., Xie, H., Li, J., & Liu, X. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5079353
Government Environmental Initiatives, Green Innovation, and the Cost of EquityPreprint
Cai, G., Gu, Q., Tang, Z., & Zhang, Y. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5083123
Mandatory CSR Spending and Stock Price Crash RiskPreprint
Mateut, S., & Varal, S. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5114805
Corporate Social Responsibility in Supply Chains: Evidence from Conflict Minerals DisclosurePreprint
Li, J., Piotrowski, S., & Thorburn, K. S. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5051125
Stakeholder orientation and insider trading
Akbulut, M., Staer, A., & Ucar, E. (2025) · Financial Review · doi:10.1111/fire.12429
Predicting Corporate Environmental PerformancePreprint
Moreau, Q., & Movaghari, H. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5076052
Local Boy Does Good: The Effect Of CSR Activities On Firm ValuePreprint
Lei, Z., Petmezas, D., Rau, P. R., & Chen, Y. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5118144
ESG Performance and Supply Chain Contracts
Zhou, J. T., Sharpe, W. H., Halabi, A. K., & Song, H. (2025) · IGI Global eBooks · doi:10.4018/979-8-3693-6284-6.ch008
The Strategic Side of Charity: Evidence from M&AsPreprint
Vansteenkiste, C. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5103313
Basu, S., Wang, W., & Zhu, X. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5165194
Yang, R., & Koci, I. (2025) · Quarterly Journal of Finance · doi:10.1142/s2010139225500016
Corporate philanthropy for exports: evidence from VAT rebates allocation in China
Sun, J. (2025) · Applied Economics · doi:10.1080/00036846.2025.2480197
Corporate Social Responsibility and Firm Litigation Risk: Evidence from ChinaPreprint
Wang, Y., Yang, J., & Zhao, Y. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5197109
Climate Boards: Do Natural Disaster Experiences Make Directors More Prosocial?Preprint
Kim, S., Minton, B. A., & Williamson, R. G. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5218453
Rational Apathy: Unveiling the Hidden Consequences of Workplace AutomationPreprint
Pukthuanthong, K., Wei, Z., Zhang, A., & Zhao, Y. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5170178
CEO’s early-life war-experience and corporate philanthropic donation: Evidence from the Korean War
Choi, S., & Chun, H. (2025) · Journal of Behavioral and Experimental Finance · doi:10.1016/j.jbef.2025.101061
Can a Shareholder Focus Create Value for all Stakeholders?Preprint
Ampong, J., & Souther, M. E. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5219625
Agency costs of stakeholderism: Evidence from compensation contracting at AT&T
Bryan, S., Nash, R. C., & Patel, A. (2025) · Journal of Applied Corporate Finance · doi:10.1111/jacf.12670
Metadata
- Authors
- Masulis, R. W., & Reza, S. W.
- Affiliations
- UNSW Sydney (AU)
- Queensland University of Technology (AU)
- Venue
- Review of Financial Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 2014-11-18
- Volume
- 28
- Issue
- 2
- Pages
- 592-636
- ISSN
- 0893-9454 (ISSN-L)
- 1465-7368
- OpenAlex
- W2247506531
- Cited by
- 1,020
- References
- 30
- Citations by year
- 2026: 101 · 2025: 156 · 2024: 161 · 2023: 140 · 2022: 138 · 2021: 85 · 2020: 95 · 2019: 50 · 2018: 38 · 2017: 22 · 2016: 16 · 2015: 11 · 2014: 3
- FWCI
- 53.29
- Type
- journal article
- Language
- en
- Open access
- bronze
- doi.org
- Locations
- Review of Financial Studies (publishedVersion)
- QUT ePrints (Queensland University of Technology) (submittedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- QUT Business School
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
- Social Sciences › Economics, Econometrics and Finance › Finance › Corporate Finance and Governance
- Social Sciences › Sociology and Political Science › Nonprofit Sector and Volunteering
- Keywords
- corporate philanthropy, agency theory, optimal contracting, shareholder valuation, cash holdings, dividends, CEO shareholding, corporate governance quality, CEO compensation, firm value
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
