The disclosure of corporate social responsibility reports and sales performance in China

Wei Yu and Ying Zheng

Accounting and Finance, 2020, vol. 60, issue 2, 1239-1270

Abstract: Based on legitimacy and stakeholder theory, we investigate whether there is an association between the disclosure of corporate social responsibility reports and a firm's sales performance in China. The empirical results reveal that the return on sales and sales growth are positively associated with the level of corporate social responsibility reporting in China. This positive association is strengthened when firms have concentrated customers. Firms use corporate social responsibility reports to improve sales performance and attract customers, who are one of their major stakeholders, and retain their legitimacy.

Date: 2020
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https://doi.org/10.1111/acfi.12431

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