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The moderating role of a corporate life cycle with the impact of economic value-added on corporate social responsibility: Evidence from China's listed companies

Author

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  • Wu, Xiaojuan
  • Dluhošová, Dana
  • Zmeškal, Zdeněk

Abstract

The moderating role of corporate life cycle stages with the impact of relative economic value added (EVA) indicator on corporate social responsibility participation index (CSRPI). Chinese A-share listed companies are investigated. The CSRPI weights are calculated by Analytic Network Process. Fractional regression with interaction is used. The corporate life cycle stages moderate the relationship between relative EVA measure and CSRPI. Surprisingly, this impact is confirmed for companies at non-mature stages, but not for mature companies. Model type, weights and corporate life cycle robustness were confirmed. The findings have implications for stakeholders in understanding companies' social behaviour in the Chinese market.

Suggested Citation

  • Wu, Xiaojuan & Dluhošová, Dana & Zmeškal, Zdeněk, 2023. "The moderating role of a corporate life cycle with the impact of economic value-added on corporate social responsibility: Evidence from China's listed companies," Emerging Markets Review, Elsevier, vol. 55(C).
    • Handle: RePEc:eee:ememar:v:55:y:2023:i:c:s1566014123000262
    DOI: 10.1016/j.ememar.2023.101021
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    More about this item

    Keywords

    Corporate social responsibility participation index; Corporate financial performance; Corporate life cycle stage; Economic value added; Analytic network process; Fractional regression;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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