Multiple large shareholders and corporate social responsibility reporting
Peng, Songlan (Stella) and
Emerging Markets Review, 2019, vol. 38, issue C, 287-309
This study examines whether multiple large shareholders play a role in corporate social responsibility (CSR) reporting. Employing data from Chinese listed firms during 2008–2015, we find both the shareholding and the identity of large shareholders are associated with CSR reporting. Specifically, we show the higher shareholding of the controlling shareholders, the poorer quality of CSR reporting. However, this entrenchment effect is mitigated when the power is more balanced between the controlling and non-controlling large shareholders. Further examination shows the power balancing effect is more significant when the controlling and non-controlling shareholders are of the same identities.
Keywords: Corporate social responsibility; CSR reporting; Multiple large shareholders; Shareholder power balance; Shareholder concentration; Large shareholder identity (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:38:y:2019:i:c:p:287-309
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