Do CSR Ratings Converge in China? A Comparison Between RKS and Hexun Scores

Zhong, Ma; Xu, Ru; Liao, Xinyi; Zhang, Shuangli

doi:10.3390/su11143921

Cited by 87 publications

(68 citation statements)

References 49 publications

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“…Data on CSR scores came from Hexun (HX) listed company's social responsibility report which is the first vertical financial portal website in China. The database provides financial information services as well as annual ratings for CSR strengths and concerns under several categories [70][71][72].…”

Section: Sample and Methodsmentioning

confidence: 99%

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Corporate Social Responsibility and Organizational Resilience to COVID-19 Crisis: An Empirical Study of Chinese Firms

2020

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Resilience captures firm capability to adjust to and recover from unexpected shocks in the environment. Being latent and path-dependent, the manifestation of organizational resilience is hard to be directly measured. This article assesses organizational resilience of firms in the context of the COVID-19 pandemic with pre-shock corporate social responsibility (CSR) performance as a predictor that positively influences the level of organizational resilience to the external shock caused by the pandemic. We develop three theoretical mechanisms based on stakeholder theory, resource-based theory, reputation perspective and means-end chain theory to explain how CSR fulfillment in the past could help firms maintain stability to adapt to and react flexibly to recover from the crisis. We examine the relationship in the context of the systemic shock caused by COVID-19, using a sample of 1597 listed firms in China during the time window from 20 January 2020 to 10 June 2020. We find that companies with higher CSR performance before the shock will experience fewer losses and will take a shorter time to recover from the attack.

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Section: Sample and Methodsmentioning

confidence: 99%

“…Details of Hexun CSR index construction are illustrated in Table 1 [70]. These dimensions capture the firm's level of responsibility fulfillment for five major groups of stakeholders.…”

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confidence: 99%

Corporate Social Responsibility and Organizational Resilience to COVID-19 Crisis: An Empirical Study of Chinese Firms

2020

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“…Though RKS CSR rating is also another source frequently used in China [62]. However, according to a comparative study by Zhong et al [63], Hexun criteria are more robust for measuring CSR performance than RKS which is primarily concerned with CSR reporting quality. In addition, Hexun CSR scoring is more objective because the evaluation is mainly based on the numerical calculation of specific indices, rather than content analysis like RKS CSR rating.…”

Section: Csrmentioning

confidence: 99%

Does CSR Influence Firm Performance Indicators? Evidence from Chinese Pharmaceutical Enterprises

2019

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This research is carried out in the backdrop of increasing product quality and environmental degradation scandals associated with Chinese Pharmaceuticals in recent years. We examined the data of 125 Chinese Pharmaceuticals between 2010–2016 to investigate the impact of overall corporate social responsibility (CSR) performance as well as the performance on five unique aspects of CSR such as shareholders, employees, customers and suppliers, environmental practices, and the society to gauge the impact of these individual dimensions on the firm’s financial performance. The Hexun rating system is used to gauge a firm’s CSR performance on various stakeholder dimensions as it is one of the widely accepted CSR measurement criteria in China. The firm performance is measured by Tobin’s Q, return on assets (ROA), return on equity (ROE), and earnings per share (EPS) ratios. The outcome of the panel-based regression models reveals that the overall CSR score has a positive and significant influence on a firm’s financial indicators. Moreover, although all the CSR dimensions relate positively to firm performance, the environmental aspect of CSR has the most profound impact on firm performance followed by customers and suppliers, and employees. However, the shareholders and social dimensions have a relatively lesser influence on firm performance. These results imply that Chinese Pharmaceuticals shall further optimize each aspect of CSR performance as it can not only create a favorable brand image for various stakeholders but also results in sustainable financial performance.

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“…(4) The quality of CSR information disclosure (shzrjx). The CSR information rating score issued by RSK is well recognized in academic circles in China [30]. We adopt it as the proxy variable of the quality of CSR information disclosure.…”

Section: Variable and Modelmentioning

confidence: 99%

Quantity, Quality, and Performance of Corporate Social Responsibility Information Disclosure by Listed Enterprises in China: A Regional Perspective

Zhang

Tan

et al. 2020

IJERPH

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The purpose of this article is to promote an increase in the number of enterprises that will disclose corporate social responsibility (CSR) information, and to improve on their quality of CSR information disclosure. Using the theory of organizational ecology, we propose that the density of companies that disclose CSR information in a region has an impact on both the quality and the performance of CSR disclosures. The study results suggest that an increase in the density of CSR information disclosing enterprises in a region will increase the number of enterprises with disclosure intentions. A density increase has a nonlinear influence on the quality of CSR information disclosure and on corporate performance, where the influence of disclosing enterprises’ density on corporate performance is partly mediated by the quality of CSR information disclosure. Our research also shows that the impact of density change of disclosing enterprises on the quality of CSR information disclosure is mediated by corporate capital structure.

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Do CSR Ratings Converge in China? A Comparison Between RKS and Hexun Scores

Cited by 87 publications

References 49 publications

Corporate Social Responsibility and Organizational Resilience to COVID-19 Crisis: An Empirical Study of Chinese Firms

Corporate Social Responsibility and Organizational Resilience to COVID-19 Crisis: An Empirical Study of Chinese Firms

Does CSR Influence Firm Performance Indicators? Evidence from Chinese Pharmaceutical Enterprises

Quantity, Quality, and Performance of Corporate Social Responsibility Information Disclosure by Listed Enterprises in China: A Regional Perspective

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