Human capital and corporate social investment: The effect of public policy

Xubin Tang and Xia Sun

Finance Research Letters, 2024, vol. 67, issue PA

Abstract: Taking advantage of a large sample of China's A-share listed companies from 2011 to 2022, this research examines the impact of human capital on corporate social investment. We provide robust evidence that employees with a higher sense of responsibility enhance corporate social investment. Moreover, we demonstrate that the positive impact is amplified by supportive public policy. Our findings are robust to a battery of sensitivity tests. In sum, this research contributes to the literature on corporate social responsibility as well as provides valuable practical implications policymakers.

Keywords: Corporate social investment; Human capital; Public policy (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:67:y:2024:i:pa:s1544612324008006

DOI: 10.1016/j.frl.2024.105770

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