Cross-listing and CSR performance: evidence from AH shares

Shi, Haina; Zhang, Xin; Zhou, Jing

doi:10.1186/s11782-018-0032-z

Cited by 16 publications

(11 citation statements)

References 78 publications

(58 reference statements)

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“…The most potent stakeholder (the government) facilitates SOEs during financial distress for their CSR involvement [72,73], and thus CSR leads to better financial performance of firms [58]. However, Li et al [79] found that the link of CSRP-CFP is weaker in SOEs as compared with non-SOEs, and highlighted several reasons for this discrepancy. First, the objective of SOEs includes social aims along with economic goals.…”

Section: Hypothesismentioning

confidence: 99%

Sub-National Institutional Contingencies and Corporate Social Responsibility Performance: Evidence from China

et al. 2019

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This study investigates the relationship between sub-national institutional contingencies and corporate social responsibility performance (CSRP). Sub-national institutional contingencies (SNICs) play a moderating role in the link between CSRP and corporate financial performance (CFP). Using data from all A-share Chinese companies listed on the Shenzhen and Shanghai exchanges for the period 2010 to 2015, ordinary least square (OLS) regression was used as a baseline methodology to draw inferences from the data. The study uses propensity score matching (PSM) to confirm the robustness and to tackle the possible issue of endogeneity. We find reliable evidence that SNICs have a positive and significant effect on CSRP. This positive relationship is more pronounced in cross-listed companies as compared to state-owned enterprises (SOEs) and in companies located in the more developed region. Moreover, SNICs moderate the positive relationship between CSRP and CFP. The relationship is stronger in firms that are non-SOEs, are non-cross-listed, and are from less-developed regions as compared to their counterparts. The findings provide implications for regulators and individual companies. Investment in corporate social responsibility (CSR) helps companies to achieve their primary objective (i.e., financial performance). With respect to practical implications, the study indicates that policymakers, executives, and managers should refrain from “one size fits all” CSR policies. Instead, they need to simultaneously evaluate the effects of regional development, cross-listing, and ownership characteristics. Considering weak social performance by firms that are from less developed regions, are non-cross-listed, and that are non-SOEs, policymakers and the government should improve information transparency and the regulatory framework, and provide these firms with incentives. This study also provides insights for other emerging economies, especially those going through extraordinary government interventions.

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Section: Hypothesismentioning

confidence: 99%

Sub-National Institutional Contingencies and Corporate Social Responsibility Performance: Evidence from China

et al. 2019

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“…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]…”

mentioning

confidence: 99%

“…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].…”

mentioning

confidence: 99%

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

Zhong

Liao

et al. 2019

Sustainability

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Rankings (RKS) and Hexun are the two most widely used corporate social responsibility (CSR) ratings in research on CSR in China’s capital market. These scores are used as a proxy for CSR performance and disclosure quality. 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.

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“…Shi et al [28] highlights the positive association of improvement efforts within the market share of entities. The improvement of CSR is more obvious for companies with poor corporate governance.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…Grid of CSR Perceptions-Observations of International Experts on CSR Regarding Economic Theories and Concepts; Source[15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32].…”

mentioning

confidence: 99%

Analysis of Social Responsibility and Reporting Methods of Romanian Companies in the Countries of the European Union

et al. 2018

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In the context of the current economy, the concept of corporate social responsibility has gained momentum, and its significance derives from the attitude of companies that have understood the importance of the impact of their activity on the environment in which they conduct their operations. The present study emphasizes the fact that CSR has an equal importance for those companies of varying sizes that operate in developing countries, such as Romania. There are still a lot of challenges regarding their implementation. The study focuses on establishing the level of CSR report by the Romanian companies within the European Union framework by taking into account the extent to which they are familiar with the CSR reporting guidelines in order to identify the degree of applying the Global Reporting Guidelines (GRI) when designing the sustainability reports. The data regarding the acceptance of the voluntary report and its correlation to the sustainable development as a strategic focus of the management of entities, the usefulness, the necessity and the obstacles of voluntary reporting were gathered based on a questionnaire. Between 2015-2017, 61 Romanian companies of various sizes had to answer specific questions. The research is based on the descriptive statistics as well as the correlation analysis method. The findings of the research proved that the acceptance of the management in terms of the sustainable development is in a close relationship with implementing voluntary reporting and the willingness to develop a favorable image of the company within a competitive market. The study also identified the differences that exist between a company's success on the market that is linked to their development and the economic factors that characterize each and every field of activity. The present study focuses on defining the term 'social responsibility' from the point of view of its concepts. It also aims at presenting the social responsibility reporting methods used by the companies from the European Union countries. These can be a starting point for those companies that have not had the chance of applying them yet.In developed countries, companies have understood the importance of CSR for their business strategy and at the same time, the importance of stakeholder engagement in their business, as the later become more and more interested in the moral behavior of companies. Within the present-day context of an increasing globalization, the growth of the international transactions and the development of the corporate phenomena through enhancing the presence of the multinational companies as emerging entities, the traditional financial reporting models are not tailored face the challenges of disclosing all the significant facets that lead to adequate CSR and the sustainable development forecasting capacity needed by companies. Thus, one can state that the traditional financial reporting no longer meets all the information needs of the stakeholders [1], and the solution comes from the companies in the form of voluntary report...

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Cross-listing and CSR performance: evidence from AH shares

Cited by 16 publications

References 78 publications

Sub-National Institutional Contingencies and Corporate Social Responsibility Performance: Evidence from China

Sub-National Institutional Contingencies and Corporate Social Responsibility Performance: Evidence from China

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

Analysis of Social Responsibility and Reporting Methods of Romanian Companies in the Countries of the European Union

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