Sustainability with high-speed rails: The effects of transportation infrastructure development on firms’ CSR performance

Yu Chen, Xin Gu, Yongqiang Gao and Tian Lan

Journal of Contemporary Accounting and Economics, 2021, vol. 17, issue 2

Abstract: By using the unbalanced data of 1,433 listed firms from 2008 to 2018, this paper examines the relationship between high-speed rails (HSRs) and corporate social responsibility (CSR) in China. Building on institution theory and resource dependency theory, we argue that the development of HSRs can accelerate information flow and human mobility, thus improving the CSR performance of firms. The underlying mechanisms include public pressure and potential investment opportunities, which are associated with the intention to engage in CSR practices, and the diffusion of managerial practice, which is associated with the capability of implementing CSR practices. The relationship is moderated by resource dependence on external stakeholders. Specifically, when a firm perceives that it has strong capabilities and does not need to rely heavily on external stakeholders, the relationship between HSRs and CSR will be weakened. Moreover, when a firm operates in an uncertain and competitive environment, the positive impacts of HSRs on CSR implementation will be enhanced. Supplementary analyses based on firms’ sensitivity to public pressure, investment opportunities and diffusion of managerial practice also indicate that the HSR-effects in consumer-sensitive firms, younger firms, and firms with interlock board members are stronger.

Keywords: CSR; High-speed rails; Institution theory; Sustainability (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jocaae:v:17:y:2021:i:2:s1815566921000199

DOI: 10.1016/j.jcae.2021.100261

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