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Article: 'Doing-good' and 'doing-well' in Chinese publicly listed firms

Title'Doing-good' and 'doing-well' in Chinese publicly listed firms
Authors
KeywordsChina
Corporate Social Responsibility
Firm Valuation
Overseas Listing
Issue Date2012
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/chieco
Citation
China Economic Review, 2012, v. 23 n. 4, p. 776-785 How to Cite?
AbstractRecently, the presumed benefits of corporate social responsibility have become an important issue, especially for China where institutional settings are quite different from other parts of the world. Using an internationally accepted benchmark (OECD's Principles of Corporate Governance, OECD, 2004), this study constructs a corporate social responsibility (CSR) index to measure the quality of the corporate social responsibility practices of the 100 major Chinese listed firms during 2004-2007. This enables us to evaluate the progress of the corporate social responsibility practices of Chinese firms. The results show that Chinese companies have been making progress in their corporate social responsibility practices. The findings also show that market rewards Chinese firms for improving their corporate governance practices which implies 'doing-good' leads to 'doing-well' in the equity market in China. We also find that overseas-listed and more profitable Chinese firms have better improvement in CSR practice. This study has policy implications in pushing for further CSR initiatives in other emerging markets. © 2012 Elsevier Inc.
Persistent Identifierhttp://hdl.handle.net/10722/177809
ISSN
2015 Impact Factor: 1.116
2015 SCImago Journal Rankings: 0.997
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorCheung, YLen_US
dc.contributor.authorJiang, Ken_US
dc.contributor.authorTan, Wen_US
dc.date.accessioned2012-12-19T09:39:58Z-
dc.date.available2012-12-19T09:39:58Z-
dc.date.issued2012en_US
dc.identifier.citationChina Economic Review, 2012, v. 23 n. 4, p. 776-785en_US
dc.identifier.issn1043-951Xen_US
dc.identifier.urihttp://hdl.handle.net/10722/177809-
dc.description.abstractRecently, the presumed benefits of corporate social responsibility have become an important issue, especially for China where institutional settings are quite different from other parts of the world. Using an internationally accepted benchmark (OECD's Principles of Corporate Governance, OECD, 2004), this study constructs a corporate social responsibility (CSR) index to measure the quality of the corporate social responsibility practices of the 100 major Chinese listed firms during 2004-2007. This enables us to evaluate the progress of the corporate social responsibility practices of Chinese firms. The results show that Chinese companies have been making progress in their corporate social responsibility practices. The findings also show that market rewards Chinese firms for improving their corporate governance practices which implies 'doing-good' leads to 'doing-well' in the equity market in China. We also find that overseas-listed and more profitable Chinese firms have better improvement in CSR practice. This study has policy implications in pushing for further CSR initiatives in other emerging markets. © 2012 Elsevier Inc.en_US
dc.languageengen_US
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/chiecoen_US
dc.relation.ispartofChina Economic Reviewen_US
dc.subjectChinaen_US
dc.subjectCorporate Social Responsibilityen_US
dc.subjectFirm Valuationen_US
dc.subjectOverseas Listingen_US
dc.title'Doing-good' and 'doing-well' in Chinese publicly listed firmsen_US
dc.typeArticleen_US
dc.identifier.emailJiang, K: jiangkun@hku.hken_US
dc.identifier.authorityJiang, K=rp01520en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1016/j.chieco.2012.03.013en_US
dc.identifier.scopuseid_2-s2.0-84867629951en_US
dc.identifier.hkuros220143-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-84867629951&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume23en_US
dc.identifier.issue4en_US
dc.identifier.spage776en_US
dc.identifier.epage785en_US
dc.identifier.isiWOS:000311009500003-
dc.publisher.placeNetherlandsen_US
dc.identifier.scopusauthoridCheung, YL=7202111096en_US
dc.identifier.scopusauthoridJiang, K=55191409900en_US
dc.identifier.scopusauthoridTan, W=35212045500en_US
dc.identifier.citeulike10549242-

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