How does analyst coverage influence corporate social responsibility (CSR)? The governance- and information-based perspectives

Yan Liu and Xiuhong Du

PLOS ONE, 2024, vol. 19, issue 4, 1-24

Abstract: Based on a sample of Chinese public manufacturing firms, this study empirically investigates whether and how analyst coverage drives corporate social responsibility (CSR) under different governance or information conditions. The results show that firms with greater analyst coverage take more social responsibility, representing magnified concerns and better CSR visibility for legitimacy and reputation. This relationship could be strengthened under high governance condition (high institutional ownership ratio, none CEO duality, low executive ownership) or low information situation (high earnings management and low accounting conservatism). These findings provide new evidence of information-based mechanism underlying the promotions of CSR in imperfect information environments.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:plo:pone00:0302165

DOI: 10.1371/journal.pone.0302165

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