Does hedge fund activism affect corporate social responsibility: evidence from China

被引：0
|
作者：
Yan, Endian [1 ]
Li, Lu [2 ]
Shen, Hongyi [2 ]
Wang, Xueding [3 ]
Yang, Erjia [3 ,4 ]
机构：
[1] Shanghai Univ, Sch Management, Shanghai, Peoples R China
[2] Shanghai Int Studies Univ, Sch Econ & Finance, Shanghai, Peoples R China
[3] Shanghai Lixin Univ Accounting & Finance, Sch Finance, Shanghai, Peoples R China
[4] Shanghai Lixin Univ Accounting & Finance, Sch Finance, 995 Shangchuan Rd, Shanghai 201209, Peoples R China
来源：
APPLIED ECONOMICS LETTERS | 2023年
关键词：
Corporate social responsibility; governance effect; hedge fund activism; emerging markets;
D O I：
10.1080/13504851.2023.2276370
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study examines how hedge fund activism impacts corporate social responsibility (CSR) in China. Findings reveal a notable CSR reduction linked to activist hedge funds, especially post-2014. This effect is more prominent in non-state-owned enterprises and firms with limited ownership concentration, highlighting hedge fund activism's governance impact on CSR. Additionally, we validate our findings through endogeneity tests. These empirical results enrich comprehension of hedge fund shareholder activism in emerging markets, yielding insights for the ongoing debate.
引用
收藏
页数：7
相关论文
共 50 条
  • [1] Does corporate internationalization affect corporate social responsibility? Evidence from China
    Zhang, Guiling
    Wang, Linjiang
    Guo, Fei
    Yang, Guochao
    [J]. EMERGING MARKETS REVIEW, 2021, 46
  • [2] Do mutual fund networks affect corporate social responsibility? Evidence from China
    Qi, Lujun
    Wang, Lixiang
    Li, Wei'an
    [J]. CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, 2020, 27 (02) : 1040 - 1050
  • [3] DOES CONFUCIANISM AFFECT CORPORATE SOCIAL RESPONSIBILITY DECOUPLING? EVIDENCE FROM CHINA
    Chen, Jinyu
    Chen, Zekun
    Zhang, Juan
    [J]. TRANSFORMATIONS IN BUSINESS & ECONOMICS, 2024, 23 (02):
  • [4] Does Employee Quality Affect Corporate Social Responsibility? Evidence from China
    Sun, Shilu
    Li, Tiantian
    Ma, Hong
    Li, Rita Yi Man
    Gouliamos, Kostas
    Zheng, Jianming
    Han, Yan
    Manta, Otilia
    Comite, Ubaldo
    Barros, Teresa
    Duarte, Nelson
    Yue, Xiao-Guang
    [J]. SUSTAINABILITY, 2020, 12 (07)
  • [5] Does institutional ownership affect corporate social responsibility? Evidence from China
    Zhou, Taiyun
    Liu, Mingxuan
    Zhang, Xiyu
    Qi, Zheng
    Qin, Ni
    [J]. ECONOMIC ANALYSIS AND POLICY, 2024, 81 : 84 - 98
  • [6] Does corporate social responsibility affect stock liquidity? Evidence from China
    Lin, Xin-Yi
    Liu, Jing-Yue
    Zhang, Yue-Jun
    [J]. FINANCE RESEARCH LETTERS, 2024, 60
  • [7] Does Corporate Social Responsibility Affect the Cost of Bank Loans? Evidence from China
    Huang, Jun
    Duan, Zhixin
    Zhu, Guowei
    [J]. EMERGING MARKETS FINANCE AND TRADE, 2017, 53 (07) : 1589 - 1602
  • [8] Does local government debt affect corporate social responsibility? Evidence from China
    Wan, Peng
    Chen, Xiangyu
    Ke, Yun
    Dong, Wang
    [J]. INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2024, 89 : 334 - 348
  • [9] How Does Analyst Coverage Affect Corporate Social Responsibility? Evidence from China
    Lei, Zheng
    Xuemeng, Guo
    Xiangfei, Fu
    [J]. EMERGING MARKETS FINANCE AND TRADE, 2022, 58 (07) : 2036 - 2049
  • [10] How does hedge fund activism reshape corporate innovation?
    Brav, Alon
    Jiang, Wei
    Ma, Song
    Tian, Xuan
    [J]. JOURNAL OF FINANCIAL ECONOMICS, 2018, 130 (02) : 237 - 264
12345