State-Owned Shareholding and CSR: Do Multiple Financing Methods Matter?—Evidence from China

Mingyuan Guo, Yanfang Hu, Yu Zhang, Fuge Tian
<span title="2019-03-01">2019</span> <i title="MDPI AG"> <a target="_blank" rel="noopener" href="" style="color: black;">Sustainability</a> </i> &nbsp;
Corporate Social Responsibility (CSR) gradually deepens its influence on enterprises and rapidly becomes one of the important issues in the research field. This paper selects China's A-share listed companies which issued social responsibility reports from 2011 to 2015, and studies the impact of state-owned shares on the disclosure level of CSR. Furthermore, this paper uses cross terms to study the role of different financing methods (issuing bonds and cross-listing) in the impact of state-owned
more &raquo; ... shares on the disclosure level of CSR. The results show that state-owned shares and the proportion of state-owned shares have a significant positive impact on the disclosure level of CSR. Both the issuing of bonds and cross-listing can promote this positive effect. The results of robust test also support this conclusion. Finally, specific recommendations are put forward.
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="">doi:10.3390/su11051292</a> <a target="_blank" rel="external noopener" href="">fatcat:z4llfw4nizeldfcruvm4hcnipq</a> </span>
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