The Response of CSR to Economic Policy Uncertainty: Evidence from China

被引:2
|
作者
Zou, Hailiang [1 ]
Wang, Ruijing [1 ]
Qi, Guoyou [2 ]
机构
[1] Shanghai Univ, SILC Business Sch, Shanghai 200444, Peoples R China
[2] East China Univ Sci & Technol, Sch Business, Shanghai 200237, Peoples R China
基金
中国国家自然科学基金;
关键词
economic policy uncertainty; corporate social responsibility; political connection; resource slack; CORPORATE SOCIAL-RESPONSIBILITY; REAL OPTIONS; FIRM PERFORMANCE; MEDIATING ROLE; POLITICAL CONNECTIONS; INSTITUTIONAL TRANSITIONS; INVESTMENT EVIDENCE; RISK-MANAGEMENT; SLACK RESOURCES; CASH FLOW;
D O I
10.3390/su151712978
中图分类号
X [环境科学、安全科学];
学科分类号
08 ; 0830 ;
摘要
The dynamics and instability of economic policies exercise considerable influence on firm behaviors. This study aims to explore the impact of economic policy uncertainty on the level of CSR that firms are engaged in and the heterogeneity of this impact across firms. Using a dataset of Chinese-listed companies from 2011 to 2019, which consists of 837 different firms and 4551 firm-year observations, the results show a negative response of CSR to economic policy uncertainty in China, which is mitigated by the political connections and resource slack that firms possess. These findings underscore the importance of a predictable business environment for CSR behaviors and the capability of firms to cope with uncertainty.
引用
收藏
页数:19
相关论文
共 50 条
  • [1] Economic policy uncertainty and cash dividend policy: evidence from China
    Li, Chuanzhen
    Zhao, Liang
    Zhang, Yiwen
    HUMANITIES & SOCIAL SCIENCES COMMUNICATIONS, 2024, 11 (01):
  • [2] Economic policy uncertainty and corporate investment: evidence from China
    Meng, Xiangyuan
    Guo, Haoge
    Li, Jie
    ECONOMIC CHANGE AND RESTRUCTURING, 2023, 56 (06) : 4491 - 4529
  • [3] Economic policy uncertainty and stock liquidity: evidence from China
    Zhang, Liguang
    Chen, Wanyi
    Hu, Ning
    INTERNATIONAL JOURNAL OF EMERGING MARKETS, 2023, 18 (01) : 22 - 44
  • [4] Economic policy uncertainty and firm performance: evidence from China
    Feng, Xinge
    Luo, Weijie
    Wang, Yong
    JOURNAL OF THE ASIA PACIFIC ECONOMY, 2023, 28 (04) : 1476 - 1493
  • [5] Economic policy uncertainty and corporate financialization: Evidence from China
    Zhao, Yan
    Su, Kun
    INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 2022, 82
  • [6] Economic policy uncertainty and corporate innovation: Evidence from China
    Guan, Jialin
    Xu, Huijuan
    Huo, Da
    Hua, Yechun
    Wang, Yunfeng
    PACIFIC-BASIN FINANCE JOURNAL, 2021, 67
  • [7] Economic policy uncertainty and green innovation: Evidence from China
    Cui, Xin
    Wang, Chunfeng
    Sensoy, Ahmet
    Liao, Jing
    Xie, Xiaochen
    ECONOMIC MODELLING, 2023, 118
  • [8] Economic policy uncertainty and mergers and acquisitions: Evidence from China
    Sha, Yezhou
    Kang, Chenlei
    Wang, Zilong
    ECONOMIC MODELLING, 2020, 89 : 590 - 600
  • [9] Economic policy uncertainty and corporate investment: Evidence from China
    Wang, Yizhong
    Chen, Carl R.
    Huang, Ying Sophie
    PACIFIC-BASIN FINANCE JOURNAL, 2014, 26 : 227 - 243
  • [10] Economic policy uncertainty and default risk: Evidence from China
    Lu, Chao
    Yang, Meng
    Xia, Xiaoxue
    ECONOMIC ANALYSIS AND POLICY, 2023, 79 : 821 - 836