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.
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页数：7
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