E3S Web Conf.
Volume 308, 20212021 6th International Conference on Materials Science, Energy Technology and Environmental Engineering (MSETEE 2021)
|Number of page(s)||10|
|Section||Energy Resource Development and Energy Saving Technology|
|Published online||27 September 2021|
Corporate Social Responsibility and Idiosyncratic Risk The impact of CSR on the idiosyncratic risk of Chinese enterprises
1 School of Economics and Finance, South China University of Technology, Guangzhou, 510000, China
2 Department of Mathematics, University of California San Diego, San Diego, 92092, United States
3 Faculty of Science, McMaster University, Hamilton, L8S 4L8, Canada
This paper investigates the impact of corporate social responsibility on the idiosyncratic risk of enterprises. We find that corporate social responsibility is negatively associated with the idiosyncratic risk of enterprises. This association is robust to a series of robustness checks, including the use of alternative indicators, exclusion of the effect of multicollinearity, and the addition of missing variables to address endogeneity concerns. Further analyses show that the impact of corporate social responsibility on idiosyncratic risk is more significant in state-owned enterprises, firms with poor corporate governance or low growth. Our findings support the notion that corporate social responsibility appears to improve corporate performance.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Current usage metrics show cumulative count of Article Views (full-text article views including HTML views, PDF and ePub downloads, according to the available data) and Abstracts Views on Vision4Press platform.
Data correspond to usage on the plateform after 2015. The current usage metrics is available 48-96 hours after online publication and is updated daily on week days.
Initial download of the metrics may take a while.