Impact of Social Responsibility Performance of Multinational Corporations on Corporate Value: Evidence from China

Yang Zhang (), Yanying Mo (), Jing Shen () and Biyue Cheng ()
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Yang Zhang: China Jiliang University, College of Economics and Management
Yanying Mo: China Jiliang University, College of Economics and Management
Jing Shen: China Jiliang University, College of Economics and Management
Biyue Cheng: China Jiliang University, College of Economics and Management

A chapter in Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023), 2024, pp 18-28 from Springer

Abstract: Abstract Under a centralized shareholding structure, the actual controller has dominance in fulfilling corporate social responsibility (CSR). Using a sample of Chinese MNCs from 2008 to 2020, this paper investigates the impact of CSR fulfillment on corporate value as well as the variations in impact across contexts. This article examines the impact of social responsibility performance on corporate value from 2008 to 2020, using Chinese multinational enterprises as samples. The study reveals that fulfilling social responsibilities significantly enhances corporate value. However, the effect of technological innovation negatively moderates the relationship between social responsibility and corporate value improvement. Moreover, the promotion effect of social responsibility on corporate value is more pronounced in low social sensitivity industries and state-owned enterprises. These research findings hold both theoretical and practical significance, providing valuable theoretical guidance and practical reference for future corporate development and value enhancement.

Keywords: multinational corporations; corporate social responsibility; corporate value (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-260-6_4

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