Is the corporate social responsibility countercyclical? – evidence from Chinese listed companies
ABSTRACTWhether the real performance of corporate social responsibility is related to social progress and development in the critical period of China’s economic transformation. It is crucially significant for improving social welfare and promoting high-quality economic development to clarify the rel...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2023-04-01
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| Series: | China Journal of Accounting Studies |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/21697213.2023.2239666 |
| _version_ | 1797522000662495232 |
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| author | Shuai Wang Haoran Wang Zejiang Zhou |
| author_facet | Shuai Wang Haoran Wang Zejiang Zhou |
| author_sort | Shuai Wang |
| collection | DOAJ |
| description | ABSTRACTWhether the real performance of corporate social responsibility is related to social progress and development in the critical period of China’s economic transformation. It is crucially significant for improving social welfare and promoting high-quality economic development to clarify the relationship between the business cycle and corporate social responsibility. Choosing A-share listed companies in China’s capital market between 2011 and 2018 as a sample, we find corporate has a better social performance during business contraction, and social responsibility presents a counter-cyclical support effect, which is more obvious in non-state corporate. Public popularity, growth level and financial distress can significantly promote this counter-cyclical support effect. Further research finds that social responsibility in economic contraction can bring government subsidy, financing convenience and reputation return for corporate in the next year. Our study enriches the literature on business cycle and corporate social responsibility and promotes high-quality economic development. |
| first_indexed | 2024-03-10T08:21:25Z |
| format | Article |
| id | doaj.art-55ae6e323c7d4bcf9ef4a4026ec66d66 |
| institution | Directory Open Access Journal |
| issn | 2169-7213 2169-7221 |
| language | English |
| last_indexed | 2024-03-10T08:21:25Z |
| publishDate | 2023-04-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | China Journal of Accounting Studies |
| spelling | doaj.art-55ae6e323c7d4bcf9ef4a4026ec66d662023-11-22T09:54:27ZengTaylor & Francis GroupChina Journal of Accounting Studies2169-72132169-72212023-04-0111233235310.1080/21697213.2023.2239666Is the corporate social responsibility countercyclical? – evidence from Chinese listed companiesShuai Wang0Haoran Wang1Zejiang Zhou2School of Accounting, Zhongnan University of Economics and Law, Wu Han, ChinaSchool of Business, Anhui University, He Fei, ChinaSchool of Business, Anhui University, He Fei, ChinaABSTRACTWhether the real performance of corporate social responsibility is related to social progress and development in the critical period of China’s economic transformation. It is crucially significant for improving social welfare and promoting high-quality economic development to clarify the relationship between the business cycle and corporate social responsibility. Choosing A-share listed companies in China’s capital market between 2011 and 2018 as a sample, we find corporate has a better social performance during business contraction, and social responsibility presents a counter-cyclical support effect, which is more obvious in non-state corporate. Public popularity, growth level and financial distress can significantly promote this counter-cyclical support effect. Further research finds that social responsibility in economic contraction can bring government subsidy, financing convenience and reputation return for corporate in the next year. Our study enriches the literature on business cycle and corporate social responsibility and promotes high-quality economic development.https://www.tandfonline.com/doi/10.1080/21697213.2023.2239666business cyclecorporate social responsibilityhigh-quality developmentcountercyclical |
| spellingShingle | Shuai Wang Haoran Wang Zejiang Zhou Is the corporate social responsibility countercyclical? – evidence from Chinese listed companies China Journal of Accounting Studies business cycle corporate social responsibility high-quality development countercyclical |
| title | Is the corporate social responsibility countercyclical? – evidence from Chinese listed companies |
| title_full | Is the corporate social responsibility countercyclical? – evidence from Chinese listed companies |
| title_fullStr | Is the corporate social responsibility countercyclical? – evidence from Chinese listed companies |
| title_full_unstemmed | Is the corporate social responsibility countercyclical? – evidence from Chinese listed companies |
| title_short | Is the corporate social responsibility countercyclical? – evidence from Chinese listed companies |
| title_sort | is the corporate social responsibility countercyclical evidence from chinese listed companies |
| topic | business cycle corporate social responsibility high-quality development countercyclical |
| url | https://www.tandfonline.com/doi/10.1080/21697213.2023.2239666 |
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