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Corporate social responsibility and financial performance: The moderating role of the turnover of local officials

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  • Huang, Jingjing

Abstract

This study examines the moderating effect of the turnover of local officials on the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) for a large panel of listed companies in China spanning 2010 to 2018. It is found that CSR makes a positive impact on CFP, and this relationship is strengthened when the turnover of city-level officials occurs. Further analysis shows that the non-state or better governed firms are more sensitive to the turnover of local officials in the CSR-CFP relationship.

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  • Huang, Jingjing, 2022. "Corporate social responsibility and financial performance: The moderating role of the turnover of local officials," Finance Research Letters, Elsevier, vol. 46(PB).
    • Handle: RePEc:eee:finlet:v:46:y:2022:i:pb:s1544612321004736
    DOI: 10.1016/j.frl.2021.102497
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    Cited by:

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    5. Jingjing Huang, 2023. "Doing good in periods of political turnover: the turnover of local officials, local corruption and corporate social responsibility," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 13(4), pages 781-833, December.

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