Su, R., Liu, C. ORCID: 0000-0003-3770-4821 and Teng, W. ORCID: 0000-0003-1326-0509, 2020. The heterogeneous effects of CSR dimensions on financial performance -a new approach for CSR measurement. Journal of Business Economics and Management, 21 (4), pp. 987-1009. ISSN 2029-4433
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Abstract
This paper investigates the differential effects of corporate social responsibility (CSR) dimensions on corporate financial performance (CFP) across sectors in China. This research uses a unique data set provided by China Stock Market and Accounting Research (CSMAR), showing expenditure on CSR programs from 568 Chinese publicly traded firm-year observations from 2008 to 2017. Compared to previous studies using scores produced by extra-financial rating agencies, this research quantifies CSR efforts by corporate expenditure on CSR practices, which offers quantitative and precise information in explaining the CSR-CFP link. The results show that the dimension of the environment has negative effects on financial performance in capital-intensive manufacturing industries. The impact of HR expenditure on CFP is negative in the tertiary sector and resource-intensive manufacturing industries. However, CSR investments in the community are positively related to financial performance in resource-intensive industries and other secondary sector (mining, construction, and utilities). Firms, in general, could gain benefits when spending more on business and financial stakeholders.
Item Type: | Journal article | ||||||
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Publication Title: | Journal of Business Economics and Management | ||||||
Creators: | Su, R., Liu, C. and Teng, W. | ||||||
Publisher: | Taylor & Francis | ||||||
Date: | 20 May 2020 | ||||||
Volume: | 21 | ||||||
Number: | 4 | ||||||
ISSN: | 2029-4433 | ||||||
Identifiers: |
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Rights: | Copyright © 2020 The Author(s). Published by VGTU Press. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons. org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. | ||||||
Divisions: | Schools > Nottingham Business School | ||||||
Record created by: | Linda Sullivan | ||||||
Date Added: | 15 Apr 2020 15:32 | ||||||
Last Modified: | 31 May 2021 15:19 | ||||||
URI: | https://irep.ntu.ac.uk/id/eprint/39637 |
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