Research on the Relationship Between CSR Disclosure Quality and Financing Constraints Based on the Regulative Effect of Regional Legal Environment

Mengfei Li () and Xuemeng Guo ()
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Mengfei Li: Beijing Jiaotong University, School of Economics and Management
Xuemeng Guo: Beijing Jiaotong University, School of Economics and Management

Chapter Chapter 7 in IEIS 2024, 2026, pp 83-95 from Springer

Abstract: Abstract In addition to macro-environmental reasons like information asymmetry and agency costs, financing constraints are thought to be a major issue impeding the growth of listed companies. Businesses frequently use the strategy of aggressively sharing corporate social responsibility data to win over investors. The idea behind this strategy is to make business more transparent, which should ease the financing process. In order to further investigate the regulatory role that the local legal environment plays and to test the relationship between financing constraints and the quality of social responsibility information disclosure, this paper uses the financial data of China’s Shanghai and Shenzhen A-share listed companies from 2017 to 2022. The findings demonstrate that the amount of financial limitations can be considerably decreased by listed firms disclosing high-quality social responsibility information, and that the local legal framework positively regulates their interaction.

Keywords: Financing constraints; Social responsibility information; SA index (search for similar items in EconPapers)
Date: 2026
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DOI: 10.1007/978-981-96-8276-8_7

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