We are examining the impact of benefit corporation certification on the profitability of UK companies, taking into account their capital structure. We contribute to the literature that scrutinizes the financial ramifications of Benefit Corporation Certification. Analyzing UK Certified Benefit Corporations (CBCs) and their noncertified counterparts using a difference‐in‐differences analysis, we find that the performance of CBCs with a capital structure heavily weighted towards debt declines in comparison to non‐CBCs, using Return on Assets as a measure of financial performance. Conversely, the performance of CBCs with a capital structure primarily composed of equity is comparable to that of non‐CBCs.

中文翻译：

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有益于公司认证和财务业绩：资本结构很重要

我们正在研究福利公司认证对英国公司盈利能力的影响，同时考虑其资本结构。我们撰写了详细审查福利公司认证的财务影响的文献。通过使用双重差分分析法对英国认证福利公司 (CBC) 及其非认证同行进行分析，我们发现，使用资产回报率作为衡量指标，资本结构严重偏向债务的 CBC 的业绩与非 CBC 相比有所下降。衡量财务绩效的指标。相反，资本结构主要由股权组成的 CBC 的业绩与非 CBC 相当。