Does venture capital improve corporate social responsibility performance?

被引：2

作者：

Luo, Ronghua ^{[1
]}

Zhao, Baofang ^{[1
]}

Han, Chunjia ^{[3
]}

Wang, Sen ^{[2
]}

机构：

[1] Southwestern Univ Finance & Econ, Sch Finance, Chengdu, Peoples R China

[2] Univ Greenwich, Sch Business Operat & Strategy, London, England

[3] Birkbeck Univ London, Dept Management, London, England

来源：

INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2023年 / 88卷

关键词：

Venture capital; Corporate social responsibility (CSR); Agency theory; Imprinting theory; Internal control quality; EMPIRICAL-ANALYSIS; FIRMS;

D O I：

10.1016/j.iref.2023.07.070

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In recent years, market agents have paid more attention to firm-level sustainable developments, but the economic effects of venture capital on corporate social responsibility (CSR) performance are not clear. We empirically investigated this issue using data from Chinese nonfinancial A-share listed firms between 2010 and 2019. We found that venture capital participation may reduce the CSR performance of portfolio companies (e.g., SMEs), and the quality of internal control (ICQ) is an effective mechanism for venture capital to affect CSR performance. We offer new insights into the relationship between venture capital and CSR in emerging markets.

引用

页码：1138 / 1150

页数：13

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