A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Do Private Benefits of Control Affect Corporate Social Responsibility? Evidence from China
In this study, we examined whether private benefits of control can influence corporate social responsibility performance. We used both separations between cash flow and control rights and the length of the longest control chain to measure private benefits of control. Consistent with the private benefits motive, we found that firms with greater divergence between cash-flow rights and control rights, with longer control chains, are associated with lower corporate social responsibility performance. Further, we found that earnings management and capital occupation by the controlling shareholder are the two effective channels through which private benefits of control affect corporate social responsibility. Additionally, this negative association is more pronounced for firms located in regions with low degree of law environment and with CEOs appointed by the largest shareholder. Additional robustness tests using alternative CSR measurements, and two-stage least squares (2SLS) regression support the main findings. This study highlights a new determination channel of private benefits of control and practically guides the introduction of corporate social responsibility activities in emerging markets.
Do Private Benefits of Control Affect Corporate Social Responsibility? Evidence from China
In this study, we examined whether private benefits of control can influence corporate social responsibility performance. We used both separations between cash flow and control rights and the length of the longest control chain to measure private benefits of control. Consistent with the private benefits motive, we found that firms with greater divergence between cash-flow rights and control rights, with longer control chains, are associated with lower corporate social responsibility performance. Further, we found that earnings management and capital occupation by the controlling shareholder are the two effective channels through which private benefits of control affect corporate social responsibility. Additionally, this negative association is more pronounced for firms located in regions with low degree of law environment and with CEOs appointed by the largest shareholder. Additional robustness tests using alternative CSR measurements, and two-stage least squares (2SLS) regression support the main findings. This study highlights a new determination channel of private benefits of control and practically guides the introduction of corporate social responsibility activities in emerging markets.
Do Private Benefits of Control Affect Corporate Social Responsibility? Evidence from China
Qiang Liu (author) / Guoqing Ge (author) / Chong Ning (author) / Xiaobo Tao (author) / Yongbo Sun (author)
2018
Article (Journal)
Electronic Resource
Unknown
Metadata by DOAJ is licensed under CC BY-SA 1.0
Does Employee Quality Affect Corporate Social Responsibility? Evidence from China
| DOAJ | 2020
The Corporate Economic Influence and Corporate Social Responsibility: Evidence from China
| DOAJ | 2023
Foreign Ownership and Corporate Social Responsibility: Evidence from China
| DOAJ | 2021
Is Corporate Social Responsibility Used to Mask Corporate Speculation? Evidence from Emerging China
| DOAJ | 2019