Version 1
: Received: 23 March 2022 / Approved: 24 March 2022 / Online: 24 March 2022 (10:45:03 CET)
How to cite:
Zhang, X.Y.; Yang, X.Y.; Yan, W. Digital Finance and Corporate Social Responsibility. Preprints2022, 2022030331. https://doi.org/10.20944/preprints202203.0331.v1
Zhang, X.Y.; Yang, X.Y.; Yan, W. Digital Finance and Corporate Social Responsibility. Preprints 2022, 2022030331. https://doi.org/10.20944/preprints202203.0331.v1
Zhang, X.Y.; Yang, X.Y.; Yan, W. Digital Finance and Corporate Social Responsibility. Preprints2022, 2022030331. https://doi.org/10.20944/preprints202203.0331.v1
APA Style
Zhang, X.Y., Yang, X.Y., & Yan, W. (2022). Digital Finance and Corporate Social Responsibility. Preprints. https://doi.org/10.20944/preprints202203.0331.v1
Chicago/Turabian Style
Zhang, X.Y., Xiu Ying Yang and Wei Yan. 2022 "Digital Finance and Corporate Social Responsibility" Preprints. https://doi.org/10.20944/preprints202203.0331.v1
Abstract
Based on the data of A-share listed companies in Shanghai and Shenzhen of China from 2011 to 2018 and the digital inclusive finance index of Peking University (2011-2018), this paper empirically tests the impact of digital finance development on corporate social responsibility in various provinces of China and its impact mechanism. The results show that: (1) the development of digital finance helps to promote the fulfillment of corporate social responsibility; (2) the influence mechanism of the development of digital finance to promote the fulfillment of corporate social responsibility lies in that it reduces the cost of debt financing and leads to the improvement of corporate social responsibility.(3) Further research shows that the positive relationship between digital finance and corporate social responsibility is more significant in private enterprises. At the same time, the impact is more significant in areas with poor market environment. The above research shows that the development of digital finance has a significant positive effect, which will improve the level of corporate social responsibility.
Keywords
digital finance; corporate social responsibility; debt financing cost
Subject
Business, Economics and Management, Finance
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.
