State-Owned Shareholding and CSR: Do Multiple Financing Methods Matter?—Evidence from China

Guo, Mengjing; Hu, Yanwei; Yu, Zhishui; Tian, Fuge

doi:10.3390/su11051292

Cited by 11 publications

(21 citation statements)

References 43 publications

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“…Most control variables had an insignificant relationship with the quality of CSR disclosure. The result of the control variables is also consistent with the previous [71,[104][105][106][107].…”

Section: Results and Analysissupporting

confidence: 89%

CSR Disclosure: Effects of Political Ties, Executive Turnover and Shareholder Equity. Evidence from China

et al. 2021

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The context of China fosters different contextual factors, which influences the quality of corporate social responsibility (CSR) disclosure in comparison to firms across the rest of the world. Political ties at a corporate level are one of these vital factors. This paper studies the influence of firm-level political ties (PT) and executive turnover (ET) on the quality of CSR disclosure in the context of shareholding status of departing executive in Chinese listed A-share firms. Stakeholder and Agency theories are applied to the dissemination of CSR disclosures in Chinese firms whereby we used 20,578 firm-years interpretations of Chinese registered companies between 2012 and 2019. The results foster a negative link between executive turnover and quality of CSR disclosures. In addition, a negative relationship has been found between political ties and the quality of CSR disclosure. The findings disclose that the shareholding status of departing executive moderate the relationship between the impact of political ties and executive turnover on firms quality of CSR disclosure, whilst the effect of executive turnover on the quality of CSR disclosure was found more pronounced for firms whose departing executive held larger shareholding (SH). This study contributed to the literature on the quality of CSR disclosure while recognizing the negative effect of executive turnover on a firm’s quality of CSR disclosure for politically tied firms with a reinforcing moderating role of the shareholding status of departing executive.

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Section: Results and Analysissupporting

confidence: 89%

CSR Disclosure: Effects of Political Ties, Executive Turnover and Shareholder Equity. Evidence from China

et al. 2021

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“…Control variables. To eliminate the impact of other factors on CSR, existing studies (Yu et al, 2018;Guo et al, 2019;Khan et al, 2019) were used as reference, and the variables of corporate characteristics and governance were controlled. Company characteristic variables include the following: (size), measured by the natural logarithm of the company's total assets; asset-liability ratio (lev), measured by dividing total liabilities by total assets; (age), measured by the natural logarithm of company listing years; cash flow (cash), measured by dividing the total assets by the cash and cash equivalents held by the company; and return on assets.…”

Section: Research Design 31 Samples and Datamentioning

confidence: 99%

Can multiple large shareholders promote corporate social responsibility?

Wang

Haiying

Xue

2020

CMS

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Purpose This study aims to examine the relationship between an ownership structure with multiple large shareholders and corporate social responsibility (CSR) with regard to Chinese-listed companies. Design/methodology/approach Multiple regression analysis was used on 4,940 samples of 884 listed companies in China for the period 2009–2017, to empirically test the influence of an ownership structure on enterprises’ fulfillment of social responsibility. Moreover, the propensity score matching–difference in differences and Heckman two-stage approaches were used for the robustness of the regression results. Findings The results show that ownership structures with multiple large shareholders can promote social responsibility. The check-and-balance ability of non-controlling large shareholders, corporate information transparency and corporate system environment moderate the relationship between multiple large shareholders and CSR engagement. Originality/value This paper complements prior studies on the ownership structure of multiple large shareholders. The findings enrich the literature on corporate governance and CSR. The results also reveal information about the situational factors, helping identify the mechanism through which the ownership structure of multiple large shareholders affects CSR.

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“…These internal efforts are mainly designed for guaranteeing the overall profile of the BRI and the conduct of Chinese investors overseas, while the Chinese government has not provided a code of conduct or specific guidelines for its SOEs as the key players in BRI projects. Suggestions have been made to regulate the Corporate Social Responsibility (CSR) disclosure in China; however, in corporate law, there is no clear concept of what CSR Chinese enterprises should bear and what relevant information they should disclose [75]. This requires that certain key responsibilities, especially those in relation to environmental protection, should be incorporated into specific laws, e.g., environmental law.…”

Section: Measures and Actions At National Levelmentioning

confidence: 99%

Integrating Sustainable Development Goals into the Belt and Road Initiative: Would It Be a New Model for Green and Sustainable Investment?

Wei

2019

Sustainability

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Given the challenges presented by climate change and related environmental pressure, a sustainable, investment-led development model, i.e., aligning investment with social and sustainability objectives, is needed to ensure long-term prosperity and generate sustainable growth. The UN’s Sustainable Development Goals (SDGs) was released to guide nations towards green and sustainable development and address governance deficits. The Belt and Road Initiative (BRI) launched by China, a development strategy involving investment in infrastructure development, intends to enhance regional connectivity, integration, and stimulate economic growth. These two agendas share the notion of ‘sustainable development’ and are growing increasingly relevant. Although various studies have analysed the sustainability of the BRI, the implementation of SDGs and the similarities and complementarities between the two initiatives, few of them touched on the possibility of the BRI to be a green and sustainable investment-led model by aligning the SDGs. This paper, thus, aims to contribute to the ongoing debate on sustainable development and infrastructure investment by exploring the possibilities and challenges of the BRI to be a sustainable, investment-led development model. By comparing these two agendas and seeking the linkages between them, this article recognises the potential of the BRI to play such a role while there are issues and risks of BRI that hinder the achievement of infrastructure development and sustainable investment. The paper recommends that, to exert the synergies from aligning the BRI and SDGs to seize substantial development benefits, it is necessary to enhance the sustainability of BRI projects, provide effective cooperation and communication with stakeholders, and adapt BRI to the national development policies of each partner country. Joint efforts taken by both state and non-state actors are indispensable.

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State-Owned Shareholding and CSR: Do Multiple Financing Methods Matter?—Evidence from China

Cited by 11 publications

References 43 publications

CSR Disclosure: Effects of Political Ties, Executive Turnover and Shareholder Equity. Evidence from China

CSR Disclosure: Effects of Political Ties, Executive Turnover and Shareholder Equity. Evidence from China

Can multiple large shareholders promote corporate social responsibility?

Integrating Sustainable Development Goals into the Belt and Road Initiative: Would It Be a New Model for Green and Sustainable Investment?

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