Do common owners influence corporate social responsibility? : Firm-level evidence from China
Suyan Yan
Using a sample of Chinese A-share listed companies from 2007 to 2018, this article explores the influence of common owners on corporate social responsibility (CSR). The results show that common owners significantly promote CSR investment, indicating that increased CSR represents a bright side to common owners, in contrast to their anticompetitive effect. Further analysis shows that the nature of state ownership significantly weakens the positive relationship between common owners and CSR investment. Prospector firms strengthen the positive influence of common owners on CSR investment, whereas defender firms weaken the effect. Moreover, common owners benefit from increasing CSR investment, and co-owned firms benefit by easing their financial constraints when they invest or increase their investment in social responsibility. The findings enhance the outstanding of how common owners affect corporate behavior and enrich the literature on common ownership and CSR investment.
Year of publication: |
2021
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Authors: | Yan, Suyan |
Published in: |
China journal of accounting research : CJAR. - Guang dong sheng guang zhou shi : [Verlag nicht ermittelbar], ISSN 2214-1421, ZDB-ID 2548343-2. - Vol. 14.2021, 3, p. 315-339
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Subject: | Common owners | Corporate social responsibility | State-owned enterprises | Corporate strategy | Stock returns | Financial constraints | Corporate Social Responsibility | China | Öffentliches Unternehmen | Public enterprise | Unternehmenserfolg | Firm performance | Eigentümerstruktur | Ownership structure | Kapitaleinkommen | Capital income |
Saved in:
freely available
Type of publication: | Article |
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Type of publication (narrower categories): | Aufsatz in Zeitschrift ; Article in journal |
Language: | English |
Other identifiers: | 10.1016/j.cjar.2021.05.005 [DOI] hdl:10419/241842 [Handle] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012613309
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