 The effect of mandatory corporate social responsibility disclosure and performance on firms’ dividend decisions: Evidence from ChinaMohan Fonseka and Grant Richardson Economic Modelling, 2023, vol. 120, issue C Abstract: Studies have explored the effects of corporate social responsibility disclosure (CSRD) and corporate social responsibility performance (CSRP) on firms' dividend decisions. However, their findings are inconclusive, and no study has analyzed the joint effect of firms' CSRD and CSRP on their dividend decisions. China's CSRD regulations provide a unique opportunity to examine the separate and joint effects of mandatory CSRD regulations and CSRP on firms' dividend decisions. Using 14,065 firm-year observations over the 2006–2016 period, we find that mandatory CSRD and CSRP increase (decrease) firms' proclivity to pay dividends, amount of dividend payouts, and decisions about dividend payouts (dividend reductions). We also find that CSRD and CSRP have a positive (negative) joint effect on firms' proclivity to pay dividends, the amount of dividend payouts, and decisions about dividend payouts (dividend reductions). Overall, our results show that mandatory CSRD and CSRP have significant consequences for firms' dividend decisions. Keywords: Corporate social responsibility (CSR) disclosure; CSR performance; Dividends (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:120:y:2023:i:c:s0264999322003893 DOI: 10.1016/j.econmod.2022.106152 Access Statistics for this article Economic Modelling is currently edited by S. Hall and P. Pauly More articles in Economic Modelling from Elsevier |
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