Version 1
: Received: 10 September 2021 / Approved: 15 September 2021 / Online: 15 September 2021 (12:43:05 CEST)
How to cite:
Hsiao, C.; Chen, H. Application of Corporate Social Responsibility -- Taking Chinese Listed Companies in the COVID-19 as an Example. Preprints2021, 2021090259. https://doi.org/10.20944/preprints202109.0259.v1
Hsiao, C.; Chen, H. Application of Corporate Social Responsibility -- Taking Chinese Listed Companies in the COVID-19 as an Example. Preprints 2021, 2021090259. https://doi.org/10.20944/preprints202109.0259.v1
Hsiao, C.; Chen, H. Application of Corporate Social Responsibility -- Taking Chinese Listed Companies in the COVID-19 as an Example. Preprints2021, 2021090259. https://doi.org/10.20944/preprints202109.0259.v1
APA Style
Hsiao, C., & Chen, H. (2021). Application of Corporate Social Responsibility -- Taking Chinese Listed Companies in the COVID-19 as an Example. Preprints. https://doi.org/10.20944/preprints202109.0259.v1
Chicago/Turabian Style
Hsiao, C. and Hao-Wei Chen. 2021 "Application of Corporate Social Responsibility -- Taking Chinese Listed Companies in the COVID-19 as an Example" Preprints. https://doi.org/10.20944/preprints202109.0259.v1
Abstract
This study focuses on a sample of Chinese listed companies from 2019 to 2020 to explore the relationships among corporate social responsibility, financial constraints, and financial performance. In addition, we discuss five factors affecting financial constraints. We also analyze the types of enterprises that can improve their financial performance by implementing corporate social responsibility keeping in mind the factors that lead to a high degree of financial constraint. The results indicate that: 1. The degree of financial constraints has a negative and significant impact on financial performance; 2. There is a reverse relationship between the degree of financial constraints and the effectiveness of corporate social responsibility measures; 3. Enterprises with high financial constraints (due to lower financial slack and revenue growth rates) can significantly improve their financial performance through the implementation of effective corporate social responsibility programs. 4. Enterprises with high financial constraints, caused by financial slack and revenue growth rate, can significantly improve their financial performance by implementing corporate social responsibility programs.
Keywords
Financial constraints; corporate social responsibility; financial performance
Subject
Business, Economics and Management, Accounting and Taxation
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
