金融监管与企业社会责任：来自中国的证据

IF 4.8 2区经济学 Q1 BUSINESS, FINANCE

Pacific-Basin Finance Journal Pub Date : 2024-11-23 DOI:10.1016/j.pacfin.2024.102599

Qi Liu , Jiejie Wu

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引用次数: 0

摘要

企业社会责任（CSR）是推动经济可持续发展的重要力量。在中国市场转型的背景下，从资本市场的角度科学研究企业社会责任，对于推动经济高质量发展至关重要。我们通过差分法研究了金融监管对企业社会责任的影响。我们发现，金融监管能明显改善企业社会责任。我们进一步发现，企业金融资产的减少和管理者的近视解释了企业社会责任增加的机制，并分析了金融监管对不同特征企业的异质性影响。

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Financial regulation and corporate social responsibility: Evidence from China

Corporate social responsibility (CSR) is a crucial force driving sustainable economic development. Against the backdrop of China's market transformation, scientifically studying CSR from the perspective of the capital market is crucial for promoting high-quality economic development. We investigate the impact of financial regulation on CSR through the difference-in-differences method. We discover that financial regulation significantly improves CSR. We further uncover that the mechanisms of reduced corporate financial assets and managerial myopia explain the increase in CSR, and analyze the heterogeneous effects on firms with different characteristics.

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来源期刊

Pacific-Basin Finance Journal BUSINESS, FINANCE-

CiteScore

6.80

自引率

6.50%

发文量

157

期刊介绍： The Pacific-Basin Finance Journal is aimed at providing a specialized forum for the publication of academic research on capital markets of the Asia-Pacific countries. Primary emphasis will be placed on the highest quality empirical and theoretical research in the following areas: • Market Micro-structure; • Investment and Portfolio Management; • Theories of Market Equilibrium; • Valuation of Financial and Real Assets; • Behavior of Asset Prices in Financial Sectors; • Normative Theory of Financial Management; • Capital Markets of Development; • Market Mechanisms.