Financial Crisis, Politically Connected CEOs, and the Performance of State-Owned Enterprises: Evidence from Korea

Yu, Seungwon; Lee, Namryoung

doi:10.1080/1540496x.2016.1186445

Cited by 20 publications

(7 citation statements)

References 55 publications

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“…Dai et al (2018) find an association between the quality of CSR reporting and gaining political legitimacy in China; the higher the level of CSR disclosure, the greater the level of government subsidies. This conclusion is in line with Yu and Lee (2016), who, based on their sample of Korean SOEs, established that fewer politically connected SOEs engaged actively in CSR during the global financial crisis, in order to gain more political legitimacy. Thus, CSR behavior is used as a currency in exchange for government approval and economic benefits.…”

Section: Role Of Ownership In Chinese Csrsupporting

confidence: 83%

CSR reporting in China’s private and state-owned enterprises: A mixed methods comparative analysis

Ervits

2021

Asian Bus Manage

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The paper pursues a mixed methods approach of conducting both quantitative and qualitative content analysis of corporate social responsibility (CSR) reports in two types of Chinese companies: State-owned (SOE) and non-state-owned (non-SOE) enterprises. Quantitative content analysis revealed overall homogeneity in CSR reporting among SOEs and non-SOEs in China, which can be explained by coercive isomorphism on a national scale. The Chinese government has created an intricate system of incentives encouraging both SOEs and non-SOEs to engage in socially responsive behavior and disclosure. As a result of qualitative analysis, a recurring theme of “strategic emerging industries” (SEI) was identified in the CSR reports of predominantly state-owned banks. This finding provides empirical evidence of the link between the social and economic objectives of the Chinese government, and it shows how state-owned banks mediate between the state and business (SOEs and non-SOEs) as part of a coercive isomorphism apparatus.

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Section: Role Of Ownership In Chinese Csrsupporting

confidence: 83%

CSR reporting in China’s private and state-owned enterprises: A mixed methods comparative analysis

Ervits

2021

Asian Bus Manage

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“…According to [54], financial crisis affects negatively corporate financial performance. During these periods, investors are more concerned about financial performance and the disclosure of CSR information may minimize this concern [55].…”

Section: Impact Of Financial Crisis In Financial Performancementioning

confidence: 99%

Social Responsibility and Financial Performance: The Case of STOXX Europe Index

Gaio¹,

Henriques²

2022

Corporate Social Responsibility

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The main objective of this study is to analyze whether companies that pursue corporate social responsibility (CSR)-based policies have a higher level of financial performance compared to those that do not. Additionally, we study the effect of the last financial crisis on the relationship between CSR and financial performance in order to figure out whether or not companies sharing these environmental and social concerns had higher financial performance than their peers. To do so, three empirical models are designed, combining both traditional accounting measures (return on equity and return on assets) and a measure sensible to market values (Tobin's Q ) to assess the financial performance. A sample of 266 listed companies, from 15 European countries and 14 industries, listed on the STOXX Europe 600, is analyzed. Results suggest that companies pursuing CSR policies financially outperform their peers, and these results are supported even during the financial crisis period. This study highlights the idea that companies pursuing CSR policies put a considerable effort on building a stronger corporate reputation which in turn generates short-and long-term benefits, leaving behind the idea of the traditional companies that focused only on financial performance.

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“…State-owned enterprises play an important role in promoting national economic development in China (Yu et al, 2016). The board of directors of a non-state-owned enterprise can decide how to develop the company, but for state-owned enterprises, their decisions need to follow the government.…”

Section: Corporate Ownership (Co)mentioning

confidence: 99%

Effect of intelligent logistics policy on shareholder value: Evidence from Chinese logistics companies

Liu

Wang

Lin

et al. 2020

Transportation Research Part E: Logistics and Transportation Re

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This paper empirically investigates the effects of intelligent logistics policies (ILPs) on shareholder value of the 149 listed logistics companies from 2013-2018 in China. The research shows that ILPs will result in a positive stock market reaction, and this effect is increasing along with the increase of policy contents related to intelligent logistics or the decrease of company service breadth. The market reaction will be affected by the way that policies are issued and type of company. The logistics service providers are more positive when their financial performances are better, while the opposite result is observed for logistics equipment manufacturers.

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Financial Crisis, Politically Connected CEOs, and the Performance of State-Owned Enterprises: Evidence from Korea

Cited by 20 publications

References 55 publications

CSR reporting in China’s private and state-owned enterprises: A mixed methods comparative analysis

CSR reporting in China’s private and state-owned enterprises: A mixed methods comparative analysis

Social Responsibility and Financial Performance: The Case of STOXX Europe Index

Effect of intelligent logistics policy on shareholder value: Evidence from Chinese logistics companies

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