How do Corporate Social Responsibility and Innovation Co-evolve with Organizational Forms? Evidence from a Transitional Economy

Helen Wei Hu () and Jiamin Zhang ()
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Helen Wei Hu: The University of Melbourne
Jiamin Zhang: Fudan University

Journal of Business Ethics, 2023, vol. 186, issue 4, No 7, 815-829

Abstract: Abstract How do corporate social responsibility (CSR) disclosure and innovation investment co-evolve with organizational forms to affect firm market value? To address this question, we draw on the co-evolutionary perspective and theorize that the contingency effect of CSR reporting is more pronounced for firms with high uncertainty and low legitimacy by comparing start-up firms vs. established firms and privately owned enterprises (POEs) versus state-owned enterprises (SOEs). Moreover, taking a dynamic approach, we propose that the effects of CSR and innovation investment on market value change when the organizational form transitions over time. Specifically, we argue that when start-up firms transitioned to established firms or when POEs were transformed from SOEs, the strengthening effects of CSR reporting become less pronounced. We test our theory using panel data on 2204 Chinese listed firms for the period of 2008–2017.

Keywords: CSR reporting; R&D investment; Co-evolutionary perspective; China (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s10551-023-05435-8

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