Attending the World Economic Forum in Davos is costly, with estimates ranging between $20,000 and $70,000 per delegate. This column uses data on attendees from 2009 to 2018 to examine whether attending the Forum yields tangible benefits for companies. The findings suggest that while attending Davos does not generate measurable financial gains for shareholders, with no evidence of improvements in stock market performance or credit ratings, it is associated with changes in firms’ social