The Brighter Side of Being Socially Responsible : CSR Ratings and Financial Distress Among Chinese State and Non-State Owned Firms
We examine the effect of corporate social responsibility (CSR) quality ratings on the financial distress levels of Chinese enterprises by using the previously unexplored new China-specific Altman “Z<sub>China</sub> Score” in the context of CSR and data from 749 firms over the 2009-2014 period. First, we find that CSR quality ratings significantly reduce Chinese firms' distress levels. Second, we find that the ability of CSR to reduce distress levels in non-state-owned Chinese firms is higher than state-owned ones. Finally, we find similar results when we divide the data into high-low CSR ratings and levels of distress. Our results are robust to potential endogeneities
Year of publication: |
2018
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Authors: | Shahab, Yasir |
Other Persons: | Ntim, Collins G. (contributor) ; Ullah, Farid (contributor) |
Publisher: |
[2018]: [S.l.] : SSRN |
Subject: | Corporate Social Responsibility | Corporate social responsibility | China | Privatwirtschaft | Private sector |
Saved in:
freely available
Extent: | 1 Online-Ressource (14 p) |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | In: Applied Economics Letters, Forthcoming Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 7, 2018 erstellt |
Classification: | G33 - Bankruptcy; Liquidation ; M14 - Corporate Culture; Social Responsibility ; M21 - Business Economics ; M41 - Accounting |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012925670