Can Passive Investors Improve Corporate Social Responsibility? Evidence from Chinese Listed Firms

Fu, Lili; Pan, Liyuan; Zhao, Jingmei

doi:10.1080/1540496x.2022.2103404

Cited by 11 publications

(5 citation statements)

References 30 publications

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“…The main data sources were CSMAR and the China Research Data Service Platform. Corporate social responsibility . Many studies on Chinese firms use the data provided by China Hexun.com's social responsibility report as an index of CSR (Fu et al, 2023; Wang et al, 2021; Zhong et al, 2019). This report looks at the responsibility of shareholders, employees, suppliers, and customers as well as consumers' rights and responsibilities regarding interests, environmental responsibility, and social responsibility in terms of five components.…”

Section: Methodsmentioning

confidence: 99%

CEOs' digital technology backgrounds and enterprise digital transformation: The mediating effect of R&D investment and corporate social responsibility

Zhu,

Li,

et al. 2023

Corp Soc Responsibility Env

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Enterprise digital transformation (EDT) is becoming an essential strategy for business growth owing to the rapid iterative invention of digital technologies. Based on imprinting theory, we examined the effects of chief executive officers' (CEOs') digital technology backgrounds (DTBs) on EDT using data on Chinese listed companies from 2010 to 2020. We found that (1) CEOs with digital technology‐related learning or career experience can drive EDT to a higher degree. (2) Research and development (R&D) investment and corporate social responsibility (CSR) are significant variables that influence the digital transformation of CEOs' digital technology. Both partially mediate CEOs' DTBs, driving digital transformation by increasing R&D investment and enhancing CSR. (3) CEOs' DTBs significantly promote digital transformation in state‐owned, high‐tech, and digital economy enterprises. By promoting digital transformation, CEOs' DTBs substantially increased their sustainable development.

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Section: Methodsmentioning

confidence: 99%

CEOs' digital technology backgrounds and enterprise digital transformation: The mediating effect of R&D investment and corporate social responsibility

Zhu,

Li,

et al. 2023

Corp Soc Responsibility Env

View full text Add to dashboard Cite

show abstract

“…This study selects CSR as an independent variable. Considering authority and independence, this study refers to the work of Wu and Jin and adopts the CSR scores released by third-party rating agencies and Xun.com as independent variables [73]. The higher the social responsibility score issued by Hexun.com, the better the CSR performance.…”

Section: Independent Variablementioning

confidence: 99%

“…To mitigate the effects of other possible factors, this study referred to the studies of Wu and Zhang et al and selected the following seven control variables from different aspects [70,73,82]: firm size (Size), gearing ratio (Lev), asset margin (Roa), investor shareholding ratio (Inst), cash flow ratio (Cashflow), dual position (Dual), and independent director ratio (Indep). Industry (industry) and year (year) were also controlled.…”

Section: Control Variablesmentioning

confidence: 99%

Corporate Social Responsibility and Green Technology Innovation: The Moderating Role of Stakeholders

Chen

Jin

2023

Sustainability

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With economic globalization, sustainable development has become the preferred choice of enterprises facing fierce competition. Innovation is the primary driving force of development. As the driving force of sustainable development, green technology innovation (GTI) is crucial for enterprises. As a key influencing factor for green technological innovation, corporate social responsibility (CSR) behavior has received increasing attention. Based on stakeholder theory, stakeholders influence enterprises’ long-term strategic development goals. This study aims to examine the importance of CSR in advancing GTI and the involvement of stakeholders. Thus, this study selected Chinese A-share listed companies from 2011 to 2020 as research objects and used fixed-effects regression models. The results identify the positive effects of CSR on GTI. This study also divided the stakeholders into different groups and elucidated, from different stakeholder perspectives, the positive moderating effects of government environmental subsidies, investor attention, and executive environmental attention on the relationship between CSR and GTI. This study verifies the direct impact of CSR on GTI, enriches the theoretical foundations of stakeholder theory and resource-based theory, and provides practical suggestions for enterprises to improve their social and environmental performance and green development. It also reveals the cognitive roles of governments, investors, and executives in environmental protection and governance, which will help Chinese enterprises to better fulfil their social responsibility, improve their own green technological innovation, and achieve sustainable development.

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“…We use the social responsibility total score from Hexun to measure the corporate social performance (CSP) of a company. This rating product of Hexun is widely adopted by studies on social responsibility in China [27,34,35], and we also chose to adopt this rating product for the following two reasons.…”

Section: Dependent Variablementioning

confidence: 99%

Does Socially Responsible Investing Make a Better Society?—A Micro Perspective through Mutual Funds and Their Investee Companies

Wang

Zhang

et al. 2023

Sustainability

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Socially responsible investing (SRI) aims to guide corporate behavior through investing and thus to make a better society since its debut. From a micro perspective, this study aims to empirically examine whether the propensity for SRI of mutual funds promotes the corporate social performance (CSP) of investee companies and to determine what are the mechanisms under this promotion effect and under what circumstances this promotion effect gets stronger. After our main analysis confirms the promotion effect in China, our mechanism analysis shows the following: mutual funds with a high propensity for SRI promote investee CSP, because they promote internal control and demand better disclosure of social responsibility information; the promotion effect of mutual funds as shareholders from within a company can substitute for the effects of a good external environment such as a highly marketized region or a competitive industry. Our heterogeneity analysis further shows that the promotion effect is stronger in state-owned enterprises, where corporate executives are more willing to accept suggestions related to social responsibility and in a good social trust atmosphere, which sheds light on shareholder activism in private and informal manners.

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Can Passive Investors Improve Corporate Social Responsibility? Evidence from Chinese Listed Firms

Cited by 11 publications

References 30 publications

CEOs' digital technology backgrounds and enterprise digital transformation: The mediating effect of R&D investment and corporate social responsibility

CEOs' digital technology backgrounds and enterprise digital transformation: The mediating effect of R&D investment and corporate social responsibility

Corporate Social Responsibility and Green Technology Innovation: The Moderating Role of Stakeholders

Does Socially Responsible Investing Make a Better Society?—A Micro Perspective through Mutual Funds and Their Investee Companies

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