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Corporate Social Responsibility Practices and Financial Performance of New Ventures: The Moderating Role of Government Support

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  • Huanyong Ji

    (School of Economics & Management, Beijing Information Science & Technology University, Beijing 100192, China)

  • Shuya Sheng

    (School of Economics & Management, Beijing Information Science & Technology University, Beijing 100192, China)

  • Jun Wan

    (School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China)

Abstract

This study enhances our comprehension of the link between corporate social responsibility (CSR) practices and financial performance in the context of new ventures. Specifically, it investigates the impact of primary and secondary stakeholder CSR practices on the financial performance of new ventures. It also examines the moderating roles of direct and indirect government support on the effect of secondary stakeholder CSR practices on new ventures’ financial performance. The data collected from manufacturing firms in China demonstrate the following: (1) primary stakeholder CSR practices can promote the financial performance of new ventures; (2) compared with established firms, the negative effect of secondary stakeholder CSR practices on the financial performance of new ventures is stronger; (3) only indirect government support can positively moderate the relationship between secondary stakeholder CSR practices and new ventures’ financial performance, and such a moderating effect is stronger than that in established firms.

Suggested Citation

  • Huanyong Ji & Shuya Sheng & Jun Wan, 2024. "Corporate Social Responsibility Practices and Financial Performance of New Ventures: The Moderating Role of Government Support," Sustainability, MDPI, vol. 16(3), pages 1-19, February.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:3:p:1328-:d:1333358
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    References listed on IDEAS

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