Managers’ aspirations and quality of CSR reports: evidence from China

Yuanyuan Hu, Shouming Chen (), Runshi Liu and Yi Dai
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Yuanyuan Hu: Tongji University
Shouming Chen: Tongji University
Runshi Liu: University of Manchester
Yi Dai: Tongji University

Palgrave Communications, 2023, vol. 10, issue 1, 1-10

Abstract: Abstract This study aims to investigate the potential impact of peer firms on the quality of CSR reports produced by the focal firm. By combining insights from the behavioral theory of the firm and existing literature on aspirations, this paper proposes that the aspiration levels of managers regarding CSR reporting play a crucial role in determining the quality of CSR reports. Specifically, it is suggested that the quality of CSR reports is likely to improved when the current level falls short of managers’ aspirations for CSR reporting. Conversely, when the current quality of CSR reports surpasses managers’ aspirations, it is expected to decline. Additionally, this paper proposes that this effect will be stronger when the owner of the firm is government or the firm’s visibility is high. Using a comprehensive panel dataset covering Chinese listed firms with A‐shares from 2012 to 2018, the empirical findings strongly support these arguments.

Date: 2023
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DOI: 10.1057/s41599-023-01786-9

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