Building a sustainable future: The role of corporate social responsibility in climate policy uncertainty management

被引：12

作者：

Vo, Hong ^{[1
,2
]}

Nguyen, Tien ^{[1
,2
]}

Phan, Hieu V. ^{[3
]}

机构：

[1] Int Univ, Linh Trung Ward, Quarter 6, Ho Chi Minh City, Vietnam

[2] Vietnam Natl Univ, Ho Chi Minh City, Vietnam

[3] Univ Massachusetts Lowell, Manning Sch Business, 72 Univ Ave, Lowell, MA 01854 USA

来源：

FINANCE RESEARCH LETTERS | 2024年 / 60卷

关键词：

Climate policy uncertainty; Corporate social responsibility; Sustainability; Carbon emissions; Corporate governance; Financial constraints; EMISSIONS; IMPACT;

D O I：

10.1016/j.frl.2023.104831

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study examines the impact of climate policy uncertainty (CPU) on firms' investment in corporate social responsibility (CSR). We find that CPU is positively related to firms' CSR, and the relationship is stronger for firms operating in carbon-intensive industries. Further analysis indicates that firms with strong corporate governance and financial flexibility are more proactive in their CSR activities amid CPU and CSR alleviates the adverse impact of CPU on the cost of debt. Overall, our evidence suggests that firms engage in CSR as a part of their strategies to mitigate the risks associated with uncertainty in climate policy.

引用

页数：10

共 42 条

[1] Does governance travel around the world? Evidence from institutional investors [J].