Does corporate social responsibility matter for corporate stability? Evidence from China

Does it pay to be an honest entrepreneur? Addressing the relationship between sustainable development and bankruptcy risk

“…In this sense, a study conducted on a sample of 45 Russian Oil&Gas firms reveals how they fostered their sustainability reporting practices to improve their financial stability (Orazalin, Mahmood, & Narbaev, ). Moreover, another study reveals how Z ‐Score is influenced by the CSR rating of firms especially in sectors characterized by a high degree of competitiveness (Gong & Ho, ). Furthermore, a study conducted by Gangi, Meles, D'Angelo, and Daniele (2019) revealed that financial institutions that adopt socially responsible principles in their activities are less risky in terms of Z ‐Score.…”

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

“…However, research is lacking on the validity of measuring CSR performance and disclosure quality, as well as the convergent validity between these scores. In this paper, a comparative and quantitative analysis was performed for the period 2010-2017, and the following results were obtained: (1) Based on a comparison of the rating methods, information sources, and other factors, RKS is more suitable for measuring the CSR disclosure quality, while Hexun is more suitable for measuring the CSR performance; (2) based on a Spearman correlation analysis, the convergent validity between these two scores is very low, particularly after 2013; and (3) the sub-indicator weights of the RKS system always maintain a high stability, whereas those of the Hexun system suffer from severe fluctuations starting in 2013.Sustainability 2019, 11, 3921 2 of 20 mechanisms of economic consequences [20][21][22][23], the drivers of CSR performance [24][25][26][27][28][29], and economic consequences [30][31][32][33][34][35]; and (2) the HX score is used only as a proxy for the CSR performance level, such as in research on the drivers of CSR performance [36][37][38][39][40] and the economic consequences of CSR performance [19,33,[41][42][43]. Some studies even use the level-1 sub-indicator of the HX score, the environmental dimension HXE, to score a firm's environmental performance level [44,45].Sustainability 2019, 11, x FOR PEER REVIEW 2 of 21 also for CSR performance levels, such as in research on the drivers of CSR disclosure quality [16][17][18][19], the mechanisms of economic consequences [20][21]…”

“…Sustainability 2019, 11, x FOR PEER REVIEW 2 of 21 also for CSR performance levels, such as in research on the drivers of CSR disclosure quality [16][17][18][19], the mechanisms of economic consequences [20][21][22][23], the drivers of CSR performance [24][25][26][27][28][29], and economic consequences [30][31][32][33][34][35]; and (2) the HX score is used only as a proxy for the CSR performance level, such as in research on the drivers of CSR performance [36][37][38][39][40] and the economic consequences of CSR performance [19,33,[41][42][43]. Some studies even use the level-1 sub-indicator of the HX score, the environmental dimension HXE, to score a firm's environmental performance level [44,45].…”

Forecasting price delay and future stock returns: The role of corporate social responsibility

“…Detailed definitions of each measure can be found in the Appendix. RKS CSR is a widely utilized measure in China for determining CSR performance (Gong & Ho, ; Y. Li & Foo, ; Y. Li, Zhang, & Foo, ). The sample period begins in 2009, when the CSR ranking is first available, and ends in 2015.…”

“…Detailed definitions of each measure can be found in the Appendix. RKS CSR is a widely utilized measure in China for determining CSR performance (Gong & Ho, 2018;Y. Li & Foo, 2015;Y.…”