The determinants of virtue : modelling changes in the CSR ratings of Chinese firms / Shuangqi Wu (Nottingham University Business School), Simon Appleton (University of Nottingham Ningbo China and IZA), Lina Song (Nottingham University Business School and IZA), Jinmin Wang (Nottingham University Business School) ; IZA Institute of Labor Economics
VerfasserWu, Shuangqi ; Appleton, Simon In der Gemeinsamen Normdatei der DNB nachschlagen ; Song, Lina In der Gemeinsamen Normdatei der DNB nachschlagen ; Wang, Jinmin In der Gemeinsamen Normdatei der DNB nachschlagen
KörperschaftForschungsinstitut zur Zukunft der Arbeit In der Gemeinsamen Normdatei der DNB nachschlagen
ErschienenBonn, Germany : IZA Institute of Labor Economics, November 2017
Elektronische Ressource
Umfang1 Online-Ressource (28 Seiten)
SerieDiscussion paper ; no. 11153
URNurn:nbn:de:hbz:5:2-142817 Persistent Identifier (URN)
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The determinants of virtue [0.33 mb]
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Most empirical studies on Corporate Social Responsibility (CSR) use cross-sectional data or case studies, making causality hard to establish. We overcome this limitation by using panel data on Chinese firms. We find no effect of last year's profits on CSR ratings, although their negative contemporaneous relation suggests a trade-off. Managerial shareholdings reduce CSR ratings while rising wages and employment are the main drivers of increasing CSR ratings. This suggests the CSR agenda aligns with the interests of labour, but not capital. However, the positive effect of Tobin's Q may indicate CSR is associated with intangibles of value to a firm.