CLAN CULTURE AND CORPORATE SOCIAL RESPONSIBILITY IN CHINESE FAMILY FIRMS

Guangli Zhang, Huili Xue, Hao Gao and Xiaoyuan Liu
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Guangli Zhang: The Business School, Central University of Finance and Economics, Beijing 100081, P. R. China
Huili Xue: The Business School, Central University of Finance and Economics, Beijing 100081, P. R. China
Hao Gao: ��PBC School of Finance, Tsinghua University, Beijing 100084, P. R. China
Xiaoyuan Liu: The Business School, Central University of Finance and Economics, Beijing 100081, P. R. China

The Singapore Economic Review (SER), 2024, vol. 69, issue 01, 119-139

Abstract: The clan cultural heritage accumulated over thousands of years is crucial for understanding corporate social responsibility (CSR) behaviors in Chinese family firms. This paper uses city-level genealogy density data to examine the impact of clan culture on family firms’ CSR behavior. Findings show that clan culture can significantly improve family firms’ CSR behavior, even considering the endogeneity. For the influence mechanism, we find that clan culture’s spirit of solidarity and mutual benefit and moral restraint effect are important influence mechanisms. We also analyze the moderating effects of ultimate shareholder experience, family involvement, and institutional environment on the relationship between clan culture and family firms’ CSR and find that clan culture shows a much larger impact on family firms’ CSR behavior in those firms with higher family involvement, lower government intervention, or whose ultimate shareholder has Cultural Revolution experience or lacks overseas experience.

Keywords: Clan culture; corporate social responsibility; family firms (search for similar items in EconPapers)
JEL-codes: L21 M14 M19 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1142/S0217590823500054

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