Quality of Mandatory Social Responsibility Disclosure and Total Factor Productivity of Enterprises: Evidence from Chinese Listed Companies

Qi Ban and Huiting Zhu ()
Additional contact information
Qi Ban: School of Finance, Nankai University, Tianjin 300350, China
Huiting Zhu: School of Bussiness, Shandong Agriculture and Engineering University, Jinan 250100, China

Sustainability, 2023, vol. 15, issue 13, 1-22

Abstract: This study attempts to determine whether improving the quality of mandatory corporate social responsibility (CSR) information disclosure can have a positive impact on a firm’s development. To this end, an empirical analysis is conducted to establish a relationship between the quality of mandatory CSR information disclosure and a firm’s total factor productivity (TFP), using data from A-share listed companies in China over the period 2009–2020. The results show that: (1) Improving the quality of mandatory CSR disclosure leads to a significant increase in a firm’s TFP. (2) By alleviating a firm’s financing constraints and agency costs, the improved quality of mandatory CSR disclosure effectively enhances the firm’s investment efficiency and innovation capacity, leading to higher TFP. This research extends the influence of CSR disclosure on the economic development outcomes of Chinese firms, and provides theoretical guidance for the development and improvement of CSR disclosure mechanisms in emerging economies.

Keywords: quality of mandatory CSR disclosure; TFP; agency costs; financing constraints; innovation capacity; investment efficiency (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 (5)

Downloads: (external link)
https://www.mdpi.com/2071-1050/15/13/10110/pdf (application/pdf)
https://www.mdpi.com/2071-1050/15/13/10110/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:15:y:2023:i:13:p:10110-:d:1179532

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().