Corporate Social Responsibility, Investor Behaviors, and Stock Market Returns: Evidence from a Natural Experiment in China

Wang, Maobin; Qiu, Chun; Kong, Dongmin

doi:10.1007/s10551-010-0713-9

Cited by 147 publications

(107 citation statements)

References 58 publications

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“…Thus, it is not surprising to see a growing interest among business ethics researchers to examine ethical issues in China. Wang et al (2010) investigated how financial investors responded to firms' corporate social responsibility in China. Zhang et al (2011) studied esthetic leadership in Chinese business.…”

Section: Introductionmentioning

confidence: 99%

Factors Impacting Ethical Behavior in a Chinese State-Owned Steel Company

Deshpande

2011

J Bus Ethics

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Section: Introductionmentioning

confidence: 99%

Factors Impacting Ethical Behavior in a Chinese State-Owned Steel Company

Deshpande

2011

J Bus Ethics

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“…The research suggests, in addition to product responsibility, other factors of CSR all be significantly affected by enterprise scale (Wang et al 2011). Although SOEs has a special nature, it still put profit in the first place.…”

Section: Discussionmentioning

confidence: 96%

“…When CSR in China is getting more and more attention from academia (Kolk et al 2010;Wang et al 2011), this study contributes to focus on SOEs and inputting a view of consumer. Moreover, this study also highlights several important issues of CSR of SOEs in China, which demands future research.…”

Section: Discussionmentioning

confidence: 99%

Corporate Social Responsibility in Shaping Corporate Image: An Empirical Study of State-Owned Enterprises in China

Hao

2013

CSR, Sustainability, Ethics &Amp; Governance

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Corporate social responsibility (CSR) is highly valued by firms for seeking to drive corporate image. State-owned enterprises as special economic and social organizations also look forward to improving its corporate image through engaging into CSR, which is attracting more and more attention in academic and demands theoretical and empirical investigation. This study aims to examine the effects of CSR on corporate image in the SOEs of China. Based on a survey study we test the effects of six dimensions of CSR on two dimensions of corporate image. The authors find different effects of economic responsibility, organizational responsibility, employee responsibility, environmental responsibility, community responsibility and product responsibility on corporate image respectively. Moreover the authors identify the varied moderator effects of consumer CSR support on the relationships between CSR and corporate image. This study not only contributes to understand the internal impact mechanism of CSR on corporate image but also facilitates the explorations about the social context on CSR practices.

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“…But one of important elements in company also becomes investor's attention is implementation program of corporate social responsibility (CSR) [4]. In which it is known the impact on investors' behavior in investigating [5]. Concerning about CSR, it has been conducted the study of CSR's correlation with investors psychology [6], remember that investor is part of stakeholders which also feel CSR program from a company.…”

Section: Introductionmentioning

confidence: 99%

Investors Psychology: Mediator of CSR and Market Capitalization

Rusdi

Primiana

Sule³

et al. 2018

IOP Conf. Ser.: Mater. Sci. Eng.

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Abstract. The implementation of CSR program which is on telecommunication industries in Indonesia has still many linkages to business advantages. CSR program is considered to be important variable in investors psychology, whereas the implementation has not been optimum to be conducted by telecommunication industries in Indonesia actually. It reviews from that phenomenon for investors psychology, so the study focuses on the implementation of CSR on investors psychology and its impact to market capitalization. This study is conducted through survey of 69 institutional investors in Indonesia. It is conducted a causality analysis by using quantitative data. The study review is stated that CSR program is unable to change market capitalization directly. However, investors psychology is stated to be able to mediate the correlation of CSR in market capitalization. This finding is useful for telecommunication industries generally and for government also in taking policy which relates to CSR in Indonesia.

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Corporate Social Responsibility, Investor Behaviors, and Stock Market Returns: Evidence from a Natural Experiment in China

Abstract: corporate social responsibility, financial performance, stock markets, event study, investors’ behaviors, emerging markets, Chinese stock market,

Cited by 147 publications

References 58 publications

Factors Impacting Ethical Behavior in a Chinese State-Owned Steel Company

Factors Impacting Ethical Behavior in a Chinese State-Owned Steel Company

Corporate Social Responsibility in Shaping Corporate Image: An Empirical Study of State-Owned Enterprises in China

Investors Psychology: Mediator of CSR and Market Capitalization

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