Local Digital Economy and Corporate Social Responsibility

Yong Hu and Qian Liu ()
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Yong Hu: School of Economics and Trade, Guangdong University of Foreign Studies, Guangzhou 510006, China
Qian Liu: Research Institute of International Service Economics, Guangdong University of Foreign Studies, Guangzhou 510006, China

Sustainability, 2023, vol. 15, issue 11, 1-20

Abstract: Utilizing the entropy evaluation approach to construct a local digital economy index, this paper investigates the influence of digital economy development on corporate social responsibility (CSR) using a sample of Chinese listed firms from 2011 to 2020. Our findings indicate that the development of the digital economy can facilitate enterprise digital transformation, enhance agency efficiency, and increase online media attention, thereby significantly promoting CSR performance for local firms. Further analysis shows that the local digital economy has varying impacts on distinct dimensions of CSR, with more pronounced effects observed among state-owned enterprises, firms in secondary industries, large-scale and non-digital firms. Overall, these findings suggest that the development of the digital economy fosters the willingness of firms to engage in CSR, resulting in a favorable interaction between firms and stakeholders.

Keywords: digital economy; CSR; entropy method; corporate governance; online media (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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