Residential College | false |
Status | 已發表Published |
Non-investor Institutions' Site Visits and Corporate Social Responsibility | |
Lewis H.K. Tam1; Shaohua Tian2 | |
2023-12 | |
Source Publication | Asia-Pacific Journal of Financial Studies |
ISSN | 2041-6156 |
Volume | 52Issue:6Pages:889-923 |
Abstract | Previous studies show that institutional investors play an important role in shaping corporate social responsibilities (CSR). The role of non-investor institutions such as media firms is largely unexplored, especially in China. This study examines the impact of site visits by non-investor institutions on visited firms’ CSR ratings (excluding corporate governance (CG)) in China. The baseline result shows that site visits are associated with improved CSR ratings. The result is robust after controlling for potential endogeneity issues. It is also robust with alternative CSR ratings by different data providers. The channel test suggests that non-investor institutions’ site visits improve CSR ratings by increasing both CSR disclosure and actual CSR activities. To highlight our difference from recent studies on corporate site visits by institutional investors, we perform a further test to show that non-investor institutions’ visits improve the non-CG aspect but not the CG aspect of CSR rating while institutional investors’ visits improve the CG aspect but not the non-CG aspect of CSR rating. |
Keyword | Corporate Site Visit Corporate Social Responsibilities Csr Non-investor Institutions Media |
Indexed By | SSCI |
Language | 英語English |
Document Type | Journal article |
Collection | Faculty of Business Administration DEPARTMENT OF FINANCE AND BUSINESS ECONOMICS |
Corresponding Author | Shaohua Tian |
Affiliation | 1.University of Macau 2.Macau University of Science and Technology |
First Author Affilication | University of Macau |
Corresponding Author Affilication | University of Macau |
Recommended Citation GB/T 7714 | Lewis H.K. Tam,Shaohua Tian. Non-investor Institutions' Site Visits and Corporate Social Responsibility[J]. Asia-Pacific Journal of Financial Studies, 2023, 52(6), 889-923. |
APA | Lewis H.K. Tam., & Shaohua Tian (2023). Non-investor Institutions' Site Visits and Corporate Social Responsibility. Asia-Pacific Journal of Financial Studies, 52(6), 889-923. |
MLA | Lewis H.K. Tam,et al."Non-investor Institutions' Site Visits and Corporate Social Responsibility".Asia-Pacific Journal of Financial Studies 52.6(2023):889-923. |
Files in This Item: | There are no files associated with this item. |
Items in the repository are protected by copyright, with all rights reserved, unless otherwise indicated.
Edit Comment