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Cross-listing and CSR performance: evidence from AH shares

Haina Shi (), Xin Zhang () and Jing Zhou ()
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Haina Shi: Fudan University
Xin Zhang: Fudan University
Jing Zhou: Shanghai University

Frontiers of Business Research in China, 2018, vol. 12, issue 1, 1-15

Abstract: Abstract This study investigates the association between corporate social responsibility (CSR) performance and cross-listing. In a clean setting where a change in CSR performance can be attributed to the cross-listing, we find a statistically significant and economically meaningful increase in CSR performance for the cross-listed firms. Moreover, such an increase comes mostly in technical CSR, which targets the firms’ primary stakeholders. We also find that the positive association between cross-listing and CSR improvements is more pronounced for firms with weak corporate governance. The results hold under a variety of different robustness checks.

Keywords: Corporate social responsibility (CSR); Cross-listing; Bonding; Emerging markets; Corporate governance; Institutional CSR; CRS performance; Technical CRS (search for similar items in EconPapers)
Date: 2018
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