Competing by conducting good deeds: The peer effect of corporate social responsibility

Liu, Sibo; Wu, Dejun

doi:10.1016/j.frl.2015.10.013

Cited by 71 publications

(40 citation statements)

References 18 publications

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“…(2018), we use the annual average of CSR scores of other firms in the same industry as the instrumental variable ( MCSR ). This is because the CSR performance of a firm is normally affected by the CSR behaviors of other firms in the same industry owing to the existence of peer effect (Ding et al., 2016; Liu & Wu, 2016). Also, the CSR level of other firms in the industry does not greatly affect the financial risk of an individual firm, which fulfils the exogenous requirement.…”

Section: Resultsmentioning

confidence: 99%

The combined effects of innovation and corporate social responsibility on firm financial risk

Liu

Gao

2021

Financ Manag Account

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Prior literature has largely dealt with the effect of either corporate social responsibility (CSR) or innovation on firm financial risk. No earlier research has examined the combined effect of a firm's simultaneous pursuit of CSR and innovation on firm financial risk. This study investigates the combined effects with a view to fostering our understanding of relationships of CSR and innovation with financial risk. Using the patent application and CSR data of 2,174 Chinese listed firms over the period 2010–2016, this study finds that firms with higher levels of imitative innovation and good CSR performance exhibit higher financial risk. The results remain after a series of robustness tests including the use of an alternative measure of firm financial risk and CSR. The results indicate that firms with a higher level of imitative innovation exhibit greater financial risk; however, the risk cannot be mitigated by firms' good CSR performance. CSR performance helps firms boost the positive image of a “good citizen” and reduce firm financial risk; however, the combined effects of CSR and imitative innovation trigger higher financial risk. The results of this study support the umbrella theory of CSR that exacerbates the moral hazard for those firms that rely on imitative innovation.

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Section: Resultsmentioning

confidence: 99%

The combined effects of innovation and corporate social responsibility on firm financial risk

Liu

Gao

2021

Financ Manag Account

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“…The modern management theory believes that enterprises should co-evolve with the entire business ecosystems. On the basis of mutual benefit, integrity and friendship, there is coexisting relationship between competition and cooperation among stakeholders [9] .…”

Section: The Integration Of Big Data and Platformbased Business Ecosymentioning

confidence: 99%

Research on Corporate Social Responsibility Governance of Internet Platform Enterprises Empowered by Big Data

Zhang

2020

E3S Web Conf.

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Big data analysis and processing technology are developing rapidly, and the application fields have continued to expand. Internet platform enterprises have fully enjoyed the technological dividends. In terms of their social responsibility governance, new breakthroughs could be achieved through big data empowerment. Firstly, the important role of big data empowerment in enterprise management is clarified, and the paper analyzes the characteristics of Internet platform industry. Considering the complex situation Internet platform enterprises are facing up with, a big data empowerment method is proposed to take on better governance of corporate social responsibility. Then, the research presents a comprehensive theoretical framework of “The Model of Big Data Empowerment in Social Responsibility Governance of Internet platform enterprises”. It reveals that, big data empowerment provides a new dimension of social responsibility governance model for Internet platform enterprises, and the rational use of big data related technologies will help companies to better fulfill their social responsibilities.

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“…Therefore, in a market where firms want to differentiate from their competitors and try to discourage others, this conservative and collective behavior in financial decisions is likely to be weak. Liu and Wu (2016), investigate the peer interaction in CSR activities among the U.S. firms. They find that when peer firms show a higher level of CSR, it's more likely that a firm also engages in CSR activities.…”

Section: Industry Concentration and Peer Effectsmentioning

confidence: 99%

Peer effects, Financial Decisions and Industry Concentration

Zaighum

Karim

2019

SJOM

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Purpose- This article reviews literature related to peer effects and different financial decisions. It further summarizes the theory and motives that drive peer effects. Also, the study highlights the influence of industry concentration on peer interaction in financial decision making. This content analysis of scantily available peer effect literature has been performed to highlight the significance of peer effects in financial decision making like investment, cash holding, leverage and many more. Most of the existing peer effects literature focuses on the U.S. However, peer effects also occur in other countries but empirical evidence is comparatively limited. But, managers may take into consideration their industry peers especially if their firms are operating in highly competitive environments. Design/Methodology- Content analysis approach is applied to review prevailing financial literature on peer interactions and financial decisions with a special focus on industry concentration in explaining the peer effects. Practical Implications- As the prime focus of managerial decisions is to maximize the firm’s value. Hence, information about peers would be helpful in making better decisions, especially in highly competitive environments. Also, this review of selected literature provides pathways for future research in investigating the motives of peer effects.

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Competing by conducting good deeds: The peer effect of corporate social responsibility

Cited by 71 publications

References 18 publications

The combined effects of innovation and corporate social responsibility on firm financial risk

The combined effects of innovation and corporate social responsibility on firm financial risk

Research on Corporate Social Responsibility Governance of Internet Platform Enterprises Empowered by Big Data

Peer effects, Financial Decisions and Industry Concentration

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