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Management tone and corporate social responsibility: Evidence from Chinese listed companies' involvement in rural revitalization

Author

Listed:
  • Wei, Fang
  • Yan, Siyao
  • Su, Daan
  • Zhang, Minyuan

Abstract

This study delves into the correlation between management tone in annual reports and corporate engagement in rural revitalization by analyzing data from publicly listed Chinese companies between 2016 and 2022. Our investigation reveals a significant positive correlation between an optimistic management tone and elevated corporate involvement in rural revitalization efforts. The findings underscore that a management's positive and forward-looking stance can stimulate enhanced corporate contributions toward rural development, with a more pronounced effect observed in case of non-state-owned entities and those under financial constraints. Furthermore, evidence suggests that the manipulation of management tone negatively affects corporate engagement in rural revitalization. These insights accentuate the critical role of management tone in shaping corporate social responsibility (CSR) initiatives, particularly within the realm of rural development. The study has strategic implications for corporate governance and communication, given that management tone can influence CSR activities and strategies, and suggests policy avenues for encouraging corporate participation in rural revitalization.

Suggested Citation

  • Wei, Fang & Yan, Siyao & Su, Daan & Zhang, Minyuan, 2024. "Management tone and corporate social responsibility: Evidence from Chinese listed companies' involvement in rural revitalization," Finance Research Letters, Elsevier, vol. 65(C).
    • Handle: RePEc:eee:finlet:v:65:y:2024:i:c:s1544612324004914
    DOI: 10.1016/j.frl.2024.105461
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    More about this item

    Keywords

    Management tone; Corporate social responsibility; Rural revitalization; Chinese-listed company;
    All these keywords.

    JEL classification:

    • R51 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Finance in Urban and Rural Economies
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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