Disclosure of Corporate Social Responsibility and Value Creation: Evidence from China

This paper examines the effect of context disclosure of corporate social responsibility (CSR) on firm's market value (MV) in China. This examination bases on the sample comprises 466 CSR reports collected from the China Corporate Responsibility Website. Through content analysis and integration, it first identified six dimensions of CSR. Based on these dimensions, this paper proposed hypotheses and validated them by regression analysis. It finds that disclosure levels of CSR can enhance firm's MV in China and the sample firms' CSR engagement is mainly driven by impact from government policies or significant social events in current period.