Barnea and Rubin (2010) argued that a firm’s insiders, like managers and large block holders may seek to over invest in CSR for their private benefits in order to improve their reputation as good global citizens. This study tested the ibid hypothesis through investigating the relation between CSR ratings of firms and their ownership and capital structures by applying a data set of the 3,000 largest US corporations as either socially responsible (SR) or socially irresponsible (SI). The study found that, on the average, insiders’ ownership and leverage are negatively related to the firm’s social rating, while institutional ownership is not correlated with it.