The heterogeneous effects of CSR dimensions on financial performance -a new approach for CSR measurement

Su, R, Liu, C ORCID: https://orcid.org/0000-0003-3770-4821 and Teng, W ORCID: https://orcid.org/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

Preview

Text 39637_a717_Liu.pdf - Published version Download (420kB) | Preview

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
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:	Number Type 10.3846/jbem.2020.12394 DOI 1315426 Other
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

Actions (login required)

Edit View

Statistics

Views

Downloads