Stay Vigilant in Peace Time? Antitakeover Provisions and Corporate Social Responsibility

Zhiying Hu, Xiaobei Huang, Yunling Song () and Wenhui Jin
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Zhiying Hu: School of Economics and Management, University of Science and Technology Beijing, Beijing 100083, China
Xiaobei Huang: School of Economics and Management, North China University of Technology, Beijing 100144, China
Yunling Song: School of Economics and Management, Inner Mongolia University, Hohhot 010021, China
Wenhui Jin: School of Economics and Management, University of Science and Technology Beijing, Beijing 100083, China

Sustainability, 2024, vol. 16, issue 13, 1-21

Abstract: We examine how antitakeover provisions (ATPs) impact corporate social responsibility (CSR) disclosure for Chinese listed firms. The empirical results show that the level of CSR disclosure is positively related to the level of ATPs, and this relationship is primarily observed in State-Owned Enterprises (SOEs). Further evidence indicates that this association is most prevalent in observations with lower efficiency or higher legitimacy pressures. Our paper provides new evidence on the mixed motivations for CSR disclosure in Chinese firms and offers insights into the moderating effects of ATPs in the context of weak corporate governance.

Keywords: antitakeover provision; CSR; social-political pressure; corporate governance (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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