Corporate Social Responsibility in China: A Corporate Governance Approach

Lau, Chung‐Ming; Lü, Yuan; Qiang, Liang

doi:10.1007/s10551-014-2513-0

Cited by 377 publications

(424 citation statements)

References 80 publications

(124 reference statements)

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“…e percentage of companies from Asia Paci c is impacted by the predominance of Chinese and Japanese companies. e Chinese companies use CSP due to the need to gain legitimacy and remain competitive in the global market (Lau, Lu & Liang, 2016;Wang, Tong, Takeuchi & George, 2016). In addition to these factors, China is one of the countries with the most D-CSP regulations .…”

Section: Methodsmentioning

confidence: 99%

The influence of social disclosure on the relationship between Corporate Financial Performance and Corporate Social Performance*

Garcia

Filho

Boaventura

2018

Rev. contab. finanç.

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ABSTRACTis study's general objective is to investigate the moderating e ect of Corporate Social Performance Disclosure (D-CSP) on the relationship between Corporate Social Performance (CSP) and Corporate Financial Performance (CFP). Based on this objective, the study presented a model in which D-CSP acts as a moderator in relation to primary stakeholders (employees, community, and suppliers). D-CSP is a mechanism through which the various social aspects involved in discretionary policies, actions, and activities identi ed in the management for stakeholders process can be evaluated. A sample of 1,147 companies belonging to 10 di erent sectors and ve continents was used to test the model. Data were collected from the Bloomberg database, totaling 5,735 observations, from 2010 to 2014. e relationship was tested using the multiple linear regression model involving panel data with xed e ects, and the Newey-West robust standard errors correction. ree constructs, D-CSP, CSP, and CFP, were used to perform the tests. As a CSP measure, the CSP of the employee, supplier, and community stakeholders was used. As a D-CSP measure, the CSP disclosure scores available from the database were used, and return on assets (ROA) was used as a CFP measure. e tests carried out indicated the existence of a positive moderating e ect of disclosure on the relationship between the CSP of primary stakeholders and CFP. Besides presenting a positive CSP in relation to the primary stakeholders the results enable it to be inferred that these results need to be disclosed, thus contributing to higher corporate nancial performance.

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Section: Methodsmentioning

confidence: 99%

The influence of social disclosure on the relationship between Corporate Financial Performance and Corporate Social Performance*

Garcia

Filho

Boaventura

2018

Rev. contab. finanç.

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“…Dam and Scholtens (2013) [54] found that more concentrated ownership goes hand in hand with poorer CSR policies because shareholders may feel that they provide public goods at a higher price. Although the findings of Lau et al (2015) [53] indicated that CSR is positively influenced by ownership concentration in Brazil, most scholars have concluded that there is a negative relationship between concentrated ownership and social responsibility. Cormier et al (2009) [54] argued that firms with concentrated ownership are not as responsive as others to public questioning because controlling shareholders would not like to share information with others.…”

Section: Hypothesis 4 (H4)mentioning

confidence: 99%

“…However, a firm with high ownership concentration will exhibit reduced diversity and CSR [53]. Dam and Scholtens (2013) [54] found that more concentrated ownership goes hand in hand with poorer CSR policies because shareholders may feel that they provide public goods at a higher price.…”

Section: Hypothesis 4 (H4)mentioning

confidence: 99%

The Impacts of Social Responsibility and Ownership Structure on Sustainable Financial Development of China’s Energy Industry

Chen

Tang³

2018

Sustainability

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Abstract:In the analysis, we integrated stakeholder and agency theories to explore the connection between corporate social responsibility (CSR) and sustainable financial development by considering the moderating effect of ownership structure. After empirical analysis, we found the following conclusions. First, the short-term and long-term economic performance is positively affected by CSR, which leads to sustainable financial development. Second, ownership circulation has a positive relationship with economic performance in the short run, which short-term profit increases as ownership circulation strengthens. Third, the effect of CSR on short-term economic performance is moderated by ownership structure. Excessive concentrated ownership may lead to decisions that do not satisfy all key stakeholders and may reduce the positive effect of CSR on economic performance. Finally, we suggest that Chinese energy companies should pay more attention to improving corporate social responsibility to maintain good economic performance and develop sustainable competitive advantage. Meanwhile, companies should optimize ownership concentration to avoid weakening the positive effects of social responsibility on short-term economic performance.

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“…awareness of the quality and content of listed firms' overall social reporting activities (Marquis and Qian, 2014;Hung et al, 2015;Lau et al, 2016;and Luo et al, 2016).…”

mentioning

confidence: 99%

The role of board gender and foreign ownership in the CSR performance of Chinese listed firms

McGuinness

Vieito

Wang

2017

Journal of Corporate Finance

640

473

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China's recent promotion of Corporate Social Responsibility (CSR) has coincided with a marked increase in the number of Chinese listed firms attracting female board members and foreign equity investors. Using Rankins' (RKS) ratings over the 2009 to 2013 period, we show that greater gender balance in top-management supports stronger CSR performance. This finding broadens gender-based accounts emphasizing social networks (Westphal and Milton, 2000), Critical Mass Theory (Kramer et al., 2006;Bear et al., 2010;and Soares et al., 2011) and team dynamics (Woolley et al., 2010;and Hoogendoorn et al., 2013). Findings also reveal stronger CSR performance in firms with a female CEO. Female leadership thus appears to be just as important as gender mix in driving CSR change.CSR ratings are also increasing in foreign ownership levels. We examine whether a political-networking motivation underlies foreign investment (Du and Girma, 2010;Liu et al., 2014a;Lin et al., 2015;and Jiang and Kim, 2015). We argue that qualified foreign institutional investors (QFIIs) deploy socialengagement in non-SOEs to build competitive advantage. But in SOEs, where strong political networks already exist, QFIIs have less incentive to boost CSR ratings. However, results indicate little difference in the social ratings of QFII-invested SOEs and non-SOEs.Additionally, we confirm the Barnea and Rubin (2010) contention of an inversion in social ratings at entrenched managerial ownership levels. Non-linear rating effects also emerge in relation to state ownership (Li et al., 2013). Finally, CSR performance exhibits positive (negative) relation with a listed entity's size and age (leverage and lagged return-on-equity) but virtually no connection with independent board representation.

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Corporate Social Responsibility in China: A Corporate Governance Approach

Cited by 377 publications

References 80 publications

The influence of social disclosure on the relationship between Corporate Financial Performance and Corporate Social Performance*

The influence of social disclosure on the relationship between Corporate Financial Performance and Corporate Social Performance*

The Impacts of Social Responsibility and Ownership Structure on Sustainable Financial Development of China’s Energy Industry

The role of board gender and foreign ownership in the CSR performance of Chinese listed firms

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