We found a match
Your institution may have rights to this item. Sign in to continue.
- Title
Corporate Social Responsibility and Firm Survival: Evidence from Chinese Listed Firms.
- Authors
Fernandes, Filipa Da Silva; Sermpinis, Georgios; Stasinakis, Charalampos; Zhao, Yang
- Abstract
This study examines the effect of corporate social responsibility (CSR) on Chinese firms' probability of survival using 2426 firm‐year observations over the period 2011–2019. We find evidence that CSR has a positive effect on firms' survival prospects. This effect is stronger for state‐owned enterprises (SOEs). The result is robust to an instrumental variable approach and several quasi‐natural experiments. We further decompose CSR into its components, and we identify a more prominent positive effect of the CSR environmental component for SOEs. SOEs generally appear to have an easier path to survival when engaged in CSR activities. The results remain valid when accounting for a set of robustness checks related to alternative CSR measures, financial constraints, provincial diversity, exogenous shocks, and placebo tests. Overall, this study provides evidence that CSR activities improve firms' probability of survival in a government intervention setting.
- Subjects
SOCIAL responsibility of business; PROBABILITY theory; GOVERNMENT corporations; INSTRUMENTAL variables (Statistics); INTERVENTION (Federal government)
- Publication
British Journal of Management, 2024, Vol 35, Issue 2, p1014
- ISSN
1045-3172
- Publication type
Article
- DOI
10.1111/1467-8551.12750