Analyst coverage and corporate social performance: Evidence from China

被引：70

作者：

Zhang, Min ^{[1
]}

Tong, Lijing ^{[1
]}

Su, Jun ^{[2
]}

Cui, Zhipeng ^{[1
]}

机构：

[1] Renmin Univ China, Sch Business, Beijing, Peoples R China

[2] Beijing Technol & Business Univ, Sch Business, Collaborat Innovat Ctr State Owned Assets Adm, Beijing, Peoples R China

来源：

PACIFIC-BASIN FINANCE JOURNAL | 2015年 / 32卷

基金：

中国国家自然科学基金;

关键词：

Corporate philanthropy; Analyst coverage; Media coverage; Corporate social responsibility; Star analyst; Merge of brokerage houses; FIRM-SPECIFIC INFORMATION; RESPONSIBILITY; REPUTATION; PRICE; PHILANTHROPY; FORECASTS; ACCURACY; EARNINGS; MARKET; RECOMMENDATIONS;

D O I：

10.1016/j.pacfin.2015.02.005

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper uses a set of unique data from Chinese listed companies to examine the influence of analyst coverage on corporate philanthropy. Results show that companies followed by more analysts engage in more philanthropy, which provides support for the reputational capital view of corporate philanthropy. The effect of analyst coverage on philanthropy is more pronounced for nonstate-owned enterprises (non-SOEs) than for state-owned enterprises (SOEs). Using the number of analysts following the firm and media coverage as alternative measures, distinguishing star analysts and ordinary analysts and applying the change model and 2SLS model with merge of brokerage houses as the instrumental variable, we confirm the robustness of the conclusions. Our research enriches the literature on corporate social responsibility and analyst coverage. (C) 2015 Elsevier B.V. All rights reserved.

引用

页码：76 / 94

页数：19

共 50 条

[41] Corporate Social Responsibility and Corporate Governance: Evidence from China
Liu Jihan
Wang Jianqiong
[J]. PROCEEDINGS OF THE 9TH EURO-ASIA CONFERENCE ON ENVIRONMENT AND CSR: TOURISM, SOCIETY AND EDUCATION SESSION (PT I), 2013, : 185 - 192
[42] Analyst coverage and corporate tax aggressiveness
Allen, Arthur
Francis, Bill B.
Wu, Qiang
Zhao, Yijiang
[J]. JOURNAL OF BANKING & FINANCE, 2016, 73 : 84 - 98
[43] CEO Media Appearance and Corporate Performance: Evidence from Social Media in China
Bai Li-juan
Yan Xiang-bin
Yu Guang
Han Yang
[J]. 2018 25TH ANNUAL INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE & ENGINEERING, 2018, : 441 - 447
[44] Effect of Environmental, Social, and Governance Performance on Corporate Financialization: Evidence from China
Zhang, Shuxia
Yin, Xiangyang
Xu, Liping
Li, Ziyu
Kong, Deyue
[J]. SUSTAINABILITY, 2022, 14 (17)
[45] The Effect of Strategic Corporate Social Responsibility on Financial Performance: Evidence from China
Deng, Bofu
Ji, Li
Liu, Zhongmin
[J]. EMERGING MARKETS FINANCE AND TRADE, 2022, 58 (06) : 1726 - 1739
[46] Economic policy uncertainty and corporate social responsibility performance: evidence from China
Zhao, Tianjiao
Xiao, Xiang
Zhang, Bingshi
[J]. SUSTAINABILITY ACCOUNTING MANAGEMENT AND POLICY JOURNAL, 2021, 12 (05) : 1003 - 1026
[47] Corporate social responsibility, employee behaviours, and organisational performance: Evidence from China
Xu, Shangkun
[J]. INTERNATIONAL JOURNAL OF PSYCHOLOGY, 2012, 47 : 358 - 359
[48] Corporate social responsibility (CSR) performance and green innovation: Evidence from China
Hao, Jing
He, Feng
[J]. FINANCE RESEARCH LETTERS, 2022, 48
[49] Research on Corporate Social Responsibility and Financial Corporate Performance-Evidence from China Listed Companies
Huang Li
Zhang Qiusheng
[J]. PROCEEDINGS OF THE SECOND INTERNATIONAL SYMPOSIUM - MANAGEMENT, INNOVATION AND DEVELOPMENT, 2015, : 633 - 639
[50] Social trust and corporate social responsibility: Evidence from China
Chen, Xiangyu
Wan, Peng
[J]. CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, 2020, 27 (02) : 485 - 500

← 1 2 3 4 5 →