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Ownership influence and CSR disclosure in China

Author

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  • Yuan Yuan Hu
  • Yanhui Zhu
  • Jon Tucker
  • Yuxiao Hu

Abstract

Purpose - This paper aims to examine the relationship between ownership type and the likelihood of publication of a corporate social responsibility (CSR) report. Design/methodology/approach - Drawing on stakeholder salience theory, the probit model is used for a sample of 1,839 Chinese listed firms to study how different types of owners influence firm CSR engagement. Findings - The analysis reveals that the Chinese stock exchanges exert a positive influence on the likelihood of a firm producing a CSR report, an effect which is more significant in state-owned enterprises (SOEs). Foreign investors lead to a greater likelihood of publication of a CSR report, though this effect is weaker in SOEs. In contrast, the holdings of state and domestic institutional investors are broadly neutral. Practical implications - The study helps corporate managers to recognise how particular types of shareholders will value their efforts regarding CSR activities and disclosure and also assists policymakers in improving the level of CSR disclosure through the development of new policy. Social implications - Apposite CSR disclosure enhances trust and facilitates the shared values on which to build a more cohesive society. Originality/value - The novelty of this study is that it addresses the effect of institutional investors on Chinese firm CSR engagement and thus provides an important insight for firms, investors and other stakeholders into the interplay of portfolio investment and CSR.

Suggested Citation

  • Yuan Yuan Hu & Yanhui Zhu & Jon Tucker & Yuxiao Hu, 2018. "Ownership influence and CSR disclosure in China," Accounting Research Journal, Emerald Group Publishing Limited, vol. 31(1), pages 8-21, May.
    • Handle: RePEc:eme:arjpps:arj-01-2017-0011
    DOI: 10.1108/ARJ-01-2017-0011
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    Citations

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    Cited by:

    1. Lei Ruan & Heng Liu, 2021. "Environmental, Social, Governance Activities and Firm Performance: Evidence from China," Sustainability, MDPI, vol. 13(2), pages 1-16, January.
    2. Haozhe Han, 2023. "Does increasing the QFII quota promote Chinese institutional investors to drive ESG?," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 30(6), pages 1627-1643, November.
    3. Yuming Zhang & Fan Yang, 2021. "Corporate Social Responsibility Disclosure: Responding to Investors’ Criticism on Social Media," IJERPH, MDPI, vol. 18(14), pages 1-27, July.
    4. Farman Ullah Khan & Junrui Zhang & Muhammad Usman & Alina Badulescu & Muhammad Safdar Sial, 2019. "Ownership Reduction in State-Owned Enterprises and Corporate Social Responsibility: Perspective from Secondary Privatization in China," Sustainability, MDPI, vol. 11(4), pages 1-13, February.
    5. Elena Aleksandrovna Mayorova, 2019. "Corporate social responsibility disclosure: evidence from the European retail sector," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(2), pages 891-905, December.
    6. Ting Qian & Caoyuan Yang, 2023. "State-Owned Equity Participation and Corporations’ ESG Performance in China: The Mediating Role of Top Management Incentives," Sustainability, MDPI, vol. 15(15), pages 1-21, July.
    7. Yuanyuan Hu & Shouming Chen & Runshi Liu & Yi Dai, 2023. "Managers’ aspirations and quality of CSR reports: evidence from China," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-10, December.
    8. Jialing Wu & Daojuan Wang & Xiaoxia Fu & Weina Meng, 2023. "Antecedent Configurations of ESG Disclosure: Evidence from the Banking Sector in China," Sustainability, MDPI, vol. 15(17), pages 1-17, September.
    9. Lv, Wendai & Ma, Wenhao & Yang, Xiandong, 2022. "Does social security policy matter for corporate social responsibility? Evidence from a quasi-natural experiment in China," Economic Modelling, Elsevier, vol. 116(C).
    10. Fawad Rauf & Cosmina Lelia Voinea & Hammad Bin Azam Hashmi & Cosmin Fratostiteanu, 2020. "Moderating Effect of Political Embeddedness on the Relationship between Resources Base and Quality of CSR Disclosure in China," Sustainability, MDPI, vol. 12(8), pages 1-19, April.
    11. Ameen Qasem & Shaker Dahan AL-Duais & Wan Nordin Wan-Hussin & Hasan Mohamad Bamahros & Abdulsalam Alquhaif & Murad Thomran, 2022. "Institutional Ownership Types and ESG Reporting: The Case of Saudi Listed Firms," Sustainability, MDPI, vol. 14(18), pages 1-23, September.
    12. Wei Yu & Ying Zheng, 2020. "The disclosure of corporate social responsibility reports and sales performance in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(2), pages 1239-1270, June.
    13. Yongfeng Zhang & Peng Wang & Jongwook Kwon, 2021. "CSR in China: Does Being Close to the Central or Local Government Matter?," Sustainability, MDPI, vol. 13(16), pages 1-12, August.
    14. Garstecki Dawid & Kowalczyk Magdalena & Kwiecińska Karolina, 2019. "CSR Practices in Polish and Spanish Stock Listed Companies: A Comparative Analysis," Sustainability, MDPI, vol. 11(4), pages 1-19, February.
    15. Yiming Zhuang & Younggeun Lee & Xinyue Chang & Renee B. Kim, 2020. "Entrepreneurial orientation and corporate social responsibility performance: An empirical study of state‐controlled and privately controlled firms in China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(1), pages 383-392, January.
    16. Johnson Kolawole OLOWOOKERE & Risikat Moturayo SHITTU & Titilope Esther OLOREDE, 2023. "Ownership Structure and Voluntary Disclosure among Nigerian Listed Non-financial Firms," Business & Management Compass, University of Economics Varna, issue 1, pages 41-59.
    17. Tan, Yong & Walheer, Barnabé, 2024. "Stability and economic performances in the banking industry: The case of China," The Quarterly Review of Economics and Finance, Elsevier, vol. 95(C), pages 326-345.
    18. Patrick Velte, 2023. "Which institutional investors drive corporate sustainability? A systematic literature review," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 42-71, January.
    19. Yihao Guo & Yanwen Song & Yimin Wang, 2024. "Happy troubles? CSR awards and CSR report quality," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 2989-3005, July.
    20. Xiaoyue Zhao & Ming Jia, 2024. "In the name of awards: environmental award, legitimacy dominance, and corporate pollution," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(8), pages 21147-21168, August.
    21. Qian, Wei & Parker, Lee & Zhu, Jingyu, 2024. "Corporate environmental reporting in the China context: The interplay of stakeholder salience, socialist ideology and state power," The British Accounting Review, Elsevier, vol. 56(1).
    22. Doddy Setiawan & Rayenda Khresna Brahmana & Andi Asrihapsari & Siti Maisaroh, 2021. "Does a Foreign Board Improve Corporate Social Responsibility?," Sustainability, MDPI, vol. 13(20), pages 1-17, October.

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