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Corporate Social Responsibility Disclosure, Market Supervision, and Green Investment

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  • Jason Z. Ma
  • Hung-Yi Huang
  • Qi Zhu
  • Xixi Shen

Abstract

As a crucial business practice, corporate social responsibility (CSR) has attracted the attention of companies and market participants worldwide. This study examines the effects of CSR disclosure on green investment and analyses whether effects vary during China’s stock market crash. The results reveal a mismatch between green investment and CSR disclosure and that the market supervisions act as a moderator. Furthermore, we observe that the nature of CSR disclosure as a self-interested tool becomes highly pronounced during extreme risk events. This observation suggests that a company facing downside market risk will compromise many of its environmental performances. Accordingly, we propose improved measures for regulators and investors in response to the gap between CSR disclosure and actual environmental performance.

Suggested Citation

  • Jason Z. Ma & Hung-Yi Huang & Qi Zhu & Xixi Shen, 2022. "Corporate Social Responsibility Disclosure, Market Supervision, and Green Investment," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 58(15), pages 4389-4398, December.
    • Handle: RePEc:mes:emfitr:v:58:y:2022:i:15:p:4389-4398
    DOI: 10.1080/1540496X.2022.2082868
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    Cited by:

    1. Oshota, Sebil Olalekan, 2024. "Effect of Tax Avoidance on Cost of Capital in Nigeria Sebil Olalekan," African Journal of Economic Review, African Journal of Economic Review, vol. 12(2), June.
    2. Kentaro Azuma & Akira Higashida, 2024. "Climate change disclosure and evolving institutional investor salience: Roles of the Principles for Responsible Investment," Business Strategy and the Environment, Wiley Blackwell, vol. 33(4), pages 3669-3686, May.
    3. Wangfangyu Wan, 2023. "Green Financial Supervision Information System Based on Genetic Algorithm Optimization under Carbon Peaking and Carbon Neutrality Goals," Sustainability, MDPI, vol. 15(22), pages 1-16, November.
    4. Buil, Pilar & Sanjurjo-San Martin, Elena L. & Alfaro-Tanco, José A., 2024. "Dissemination analysis of SDGs in sustainability reports to enhance corporate communication strategy," Cuadernos de Gestión, Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE).

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