Venture capital and corporate social responsibility

Cheng Cheng, Yongqiang Chu, Zijie Deng and Bo Huang

Journal of Corporate Finance, 2022, vol. 75, issue C

Abstract: We examine the impact of venture capital (VC) on corporate social responsibility (CSR) performance in China. Exploiting the timing of VC exit, we find that the CSR performance of VC-backed companies improves after the exit of VC. Using the age of VC funds as an instrument for VC exit, we find that the effect is likely to be causal. Further analyses suggest that the effect is largely driven by inexperienced, badly performing, and less reputable VCs.

Keywords: Venture capital; Corporate social responsibility; Monitoring; Board of directors (search for similar items in EconPapers)
JEL-codes: G23 G24 L21 M14 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:corfin:v:75:y:2022:i:c:s0929119922000517

DOI: 10.1016/j.jcorpfin.2022.102208

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