Corporate social responsibility and financial performance: The moderating role of the turnover of local officials

Jingjing Huang

Finance Research Letters, 2022, vol. 46, issue PB

Abstract: This study examines the moderating effect of the turnover of local officials on the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) for a large panel of listed companies in China spanning 2010 to 2018. It is found that CSR makes a positive impact on CFP, and this relationship is strengthened when the turnover of city-level officials occurs. Further analysis shows that the non-state or better governed firms are more sensitive to the turnover of local officials in the CSR-CFP relationship.

Keywords: Corporate social responsibility; Corporate financial performance; Political turnover; Institutional instability; China (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:46:y:2022:i:pb:s1544612321004736

DOI: 10.1016/j.frl.2021.102497

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