Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/174063
Authors: 
Wu, Shuangqi
Appleton, Simon
Song, Lina
Wang, Jinmin
Year of Publication: 
2017
Series/Report no.: 
IZA Discussion Papers 11153
Abstract: 
Most empirical studies on Corporate Social Responsibility (CSR) use cross-sectional data or case studies, making causality hard to establish. We overcome this limitation by using panel data on Chinese firms. We find no effect of last year'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 Tobin's Q may indicate CSR is associated with intangibles of value to a firm.
Subjects: 
firms
corporate social responsibility
China
JEL: 
M14
Document Type: 
Working Paper

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