Do Peer Firms Affect Firm Corporate Social Responsibility?

Shenggang Yang, Heng Ye and Qi Zhu
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Shenggang Yang: The College of Finance and Statistics, Hunan University, Changsha 410006, China
Heng Ye: The College of Finance and Statistics, Hunan University, Changsha 410006, China
Qi Zhu: Guotai Junan Securities Co., Ltd., Shanghai 200120, China

Sustainability, 2017, vol. 9, issue 11, 1-7

Abstract: Peer-firm strategies are a critical factor for corporate finance, and corporate social responsibility (CSR) is the main trend for evaluating the behavior of firms. On the basis of the connection between peer strategy and CSR, this paper explores the CSR strategies employed by a sample of Chinese firms during the 2008–2015 period. Our two main empirical findings are as follows. First, the CSR strategies of firms have a positive effect on their CSR behavior. Second, when there is the CSR gap between firms and peer firms, firms will feel the pressure from stakeholders and the public and improve the level of CSR performance. Our paper enriches empirical research on the CSR behavior of Chinese firms.

Keywords: peer effect; corporate social responsibility; firm behavior (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (20)

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