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

Mingyuan Guo, Yanfang Hu, Yu Zhang and Fuge Tian
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Mingyuan Guo: College of Management and Economics, Tianjin University, Tianjin 300072, China
Yanfang Hu: College of Management and Economics, Tianjin University, Tianjin 300072, China
Yu Zhang: College of Management and Economics, Tianjin University, Tianjin 300072, China
Fuge Tian: College of Management and Economics, Tianjin University, Tianjin 300072, China

Sustainability, 2019, vol. 11, issue 5, 1-15

Abstract: Corporate Social Responsibility (CSR) gradually deepens its influence on enterprises and rapidly becomes one of the important issues in the research field. This paper selects China’s A-share listed companies which issued social responsibility reports from 2011 to 2015, and studies the impact of state-owned shares on the disclosure level of CSR. Furthermore, this paper uses cross terms to study the role of different financing methods (issuing bonds and cross-listing) in the impact of state-owned shares on the disclosure level of CSR. The results show that state-owned shares and the proportion of state-owned shares have a significant positive impact on the disclosure level of CSR. Both the issuing of bonds and cross-listing can promote this positive effect. The results of robust test also support this conclusion. Finally, specific recommendations are put forward.

Keywords: CSR; state-owned shares; financing methods; cross term (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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