Impacts of CSR on the efficiency of Chinese enterprises' Outward FDI

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2023-07-24 DOI:10.1016/j.frl.2023.104252

Xin Xie , Wenjie Zhang

引用次数: 0

Abstract

OFDI is an important way for enterprises to participate in international competition. However, the existing studies have paid less attention to the efficiency of OFDI, especially the mechanism of CSR on the efficiency of OFDI. Therefore, based on the perspective of signaling theory, this paper empirically examines the impact of CSR on the efficiency of corporate OFDI and the mediating role of media attention, using A-share listed companies from 2011 to 2022 as the sample. The findings provide new perspectives for enterprises to improve OFDI efficiency, and also provide practical guidance for governments to pay sufficient attention to CSR.

查看原文本刊更多论文

企业社会责任对中国企业对外直接投资效率的影响

对外直接投资是企业参与国际竞争的重要途径。然而，现有的研究较少关注对外直接投资的效率，尤其是企业社会责任对对外直接投资效率的影响机制。因此，本文基于信号传导理论的视角，以2011-2022年A股上市公司为样本，实证检验了企业社会责任对企业对外直接投资效率的影响以及媒体关注的中介作用。研究结果为企业提高对外直接投资效率提供了新的视角，也为政府充分重视企业社会责任提供了现实指导。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance