Enhancing green total factor productivity through corporate social responsibility: The moderating effect of environmental regulations

Zetong Li and Jingjie Cao

Finance Research Letters, 2025, vol. 71, issue C

Abstract: Drawing on a comprehensive dataset spanning from 2012 to 2022, this paper delves into the relationship between corporate social responsibility (CSR) and green total factor productivity (GTFP) among A-share listed manufacturing companies in China. Our findings underscore the pivotal role of CSR in bolstering GTFP, thereby fostering environmental sustainability. Notably, we observe that environmental regulations serve as a catalyst, positively amplifying the beneficial impact of CSR on GTFP. Furthermore, in pursuit of fulfilling their CSR commitments, firms have increased their investments in research and development (R&D), a strategic move that has significantly enhanced their GTFP performance.

Keywords: Corporate social responsibility; Environmental regulation; Green total factor productivity (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:71:y:2025:i:c:s1544612324014958

DOI: 10.1016/j.frl.2024.106466

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