The Determinants of Virtue: Modelling Changes in the CSR Ratings of Chinese Firms
Lina Song and
Working Papers from eSocialSciences
Most empirical studies on Corporate Social Responsibility (CSR) use cross-sectional data or case studies, making causality hard to establish. The paper overcomes this limitation by using panel data on Chinese firms. The paper also finds no effect of last yearâ€™s profits on CSR ratings, although their negative contemporaneous relation suggests a trade-off. Managerial shareholdings reduce CSR ratings while rising wages and employment are the main drivers of increasing CSR ratings. This suggests the CSR agenda aligns with the interests of labour, but not capital. However, the positive effect of Tobinâ€™s Q may indicate CSR is associated with intangibles of value to a firm.
Keywords: corporate social responsibility; firms; China; chinese firms; economy; trade-off; institutions; CSR ratings; labour; capital; positive effect of Tobinâ€™s Q; negative contemporaneous relation; ross-sectional data; modelling changes. (search for similar items in EconPapers)
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Working Paper: The Determinants of Virtue: Modelling Changes in the CSR Ratings of Chinese Firms (2017)
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