This study analyses all A-share listed companies from 2015 to 2020 to empirically examine the impact of inquiry supervision on corporate value and the moderating influence of corporate social responsibility(CSR)on thi...This study analyses all A-share listed companies from 2015 to 2020 to empirically examine the impact of inquiry supervision on corporate value and the moderating influence of corporate social responsibility(CSR)on this relationship.Research has shown that inquiry supervision significantly reduces corporate value,and the corporate social responsibility previously performed by companies can weaken this negative impact.Furthermore,the heterogeneity test based on internal and external controls shows that the reputation protection effect of CSR is more significant for companies with a higher proportion of independent directors,companies with a higher proportion of institutional investors investing in stocks,regions with a higher degree of marketization,and regions with a higher level of rule of law.The research in this article validates the effectiveness of reputation protection and verifies that reputation protection,as an informal mechanism,is easier to fulfil a role in areas where formal mechanisms are perfect.In other words,formal and informal mechanisms appear to complement each other.These findings provide empirical insights into the governance of CSR.展开更多
Currently,corporate social responsibility has become the focus of all countries in the world.Accordingly,there is a new management concept to appear.Corporate social responsibility means that corporation is the main b...Currently,corporate social responsibility has become the focus of all countries in the world.Accordingly,there is a new management concept to appear.Corporate social responsibility means that corporation is the main body to undertake responsibility,and its social responsibility is from the effect of corporation activities on the society.With cultural differences,Chinese and western corporate social responsibilities are very different,including the role of government,the point of view to understand,the social supervision,etc.In this study,China’s corporation society responsibility construction way is analyzed based on knowing well the cultural differences.展开更多
基金supported by the National Natural Science Foundation of China(72293573)the New Era Education Quality Project of Anhui Province(2022zyxwjxalk003)the Fundamental Research Funds for the Central Universities(YD2160004004,WK2040000090).
文摘This study analyses all A-share listed companies from 2015 to 2020 to empirically examine the impact of inquiry supervision on corporate value and the moderating influence of corporate social responsibility(CSR)on this relationship.Research has shown that inquiry supervision significantly reduces corporate value,and the corporate social responsibility previously performed by companies can weaken this negative impact.Furthermore,the heterogeneity test based on internal and external controls shows that the reputation protection effect of CSR is more significant for companies with a higher proportion of independent directors,companies with a higher proportion of institutional investors investing in stocks,regions with a higher degree of marketization,and regions with a higher level of rule of law.The research in this article validates the effectiveness of reputation protection and verifies that reputation protection,as an informal mechanism,is easier to fulfil a role in areas where formal mechanisms are perfect.In other words,formal and informal mechanisms appear to complement each other.These findings provide empirical insights into the governance of CSR.
基金the reserch result of SA8000 and the Fashioning of Enterprise Social Responsibility in China(A Research Project of Education Administration of Zhejiang Province,No.20060429)Enterprise Social Responsibility and SA8000(A Research Project of Zhejiang Social Sciences Association,No.58)
文摘Currently,corporate social responsibility has become the focus of all countries in the world.Accordingly,there is a new management concept to appear.Corporate social responsibility means that corporation is the main body to undertake responsibility,and its social responsibility is from the effect of corporation activities on the society.With cultural differences,Chinese and western corporate social responsibilities are very different,including the role of government,the point of view to understand,the social supervision,etc.In this study,China’s corporation society responsibility construction way is analyzed based on knowing well the cultural differences.
