What Explains Corporate Social Responsibility Engagement in Chinese Firms?

IF 1.4 Q3 ECONOMICS
Erin H. C. Kao, Hung-Gay Fung, Qing-zhu Li
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引用次数: 13

Abstract

Abstract This study examines factors that explain corporate social responsibility (CSR) engagement in Chinese firms. Contrary to the developed markets, the Chinese government plays a determinant role in CSR engagement of Chinese firms. For the state-owned firms, several results are noted. First, a firm’s CSR engagement appears to serve the government interest rather than the various stakeholders. Second, managers will overinvest in CSR for political reasons or private reputation building. The behavior supports the overinvestment hypothesis. Third, a state-owned enterprises firm with more earnings management will likely reduce CSR engagement. SOEs that have CSR engagements tend to have higher research and technical development expenditures and lower financial performance. For non-state-owned firms, the CSR engagements appear to mitigate conflicts among stakeholders and associate with higher firms’ value, supporting the conflict-resolution hypothesis. Our results find that firms of a larger size are more likely to participate in more CSR engagement for both SOEs and non-SOEs.
如何解释中国企业的社会责任参与?
摘要本研究探讨了中国企业社会责任参与的影响因素。与发达市场不同,中国政府在企业社会责任参与中起着决定性作用。对于国有企业,有几个结果值得注意。首先,企业的社会责任参与似乎是为政府利益服务,而不是为各种利益相关者服务。其次,出于政治原因或个人声誉建设,管理者会在企业社会责任上过度投资。这种行为支持过度投资假说。第三,盈余管理较多的国有企业可能会降低企业社会责任参与度。参与企业社会责任的国有企业往往有较高的研发支出和较低的财务绩效。对于非国有企业,企业社会责任参与似乎可以缓解利益相关者之间的冲突,并与更高的企业价值相关联,支持冲突解决假说。我们的研究发现,无论是国有企业还是非国有企业,规模越大的企业更有可能参与更多的企业社会责任参与。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CHINESE ECONOMY
CHINESE ECONOMY ECONOMICS-
CiteScore
4.10
自引率
15.00%
发文量
24
期刊介绍: The Chinese Economy offers an objective and analytical perspective on economic issues concerning China. It features research papers by scholars from around the world as well as selected translations of important articles from Chinese sources. The journal aims to provide expert insight on China"s economic development and directions for future research and policy analysis.
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