Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023)

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Impact of Social Responsibility Performance of Multinational Corporations on Corporate Value: Evidence from China

Authors
Yang Zhang1, 2, *, Yanying Mo1, 2, Jing Shen1, Biyue Cheng1, 2
1College of Economics and Management, China Jiliang University, Hangzhou, 310018, China
2Center for Digital Trade and Regional Development, China Jiliang University, Hangzhou, 310018, China
*Corresponding author. Email: zhy@cjlu.edu.cn
Corresponding Author
Yang Zhang
Available Online 28 September 2023.
DOI
10.2991/978-94-6463-260-6_4How to use a DOI?
Keywords
multinational corporations; corporate social responsibility; corporate value
Abstract

Under a centralized shareholding structure, the actual controller has dominance in fulfilling corporate social responsibility (CSR). Using a sample of Chinese MNCs from 2008 to 2020, this paper investigates the impact of CSR fulfillment on corporate value as well as the variations in impact across contexts. This article examines the impact of social responsibility performance on corporate value from 2008 to 2020, using Chinese multinational enterprises as samples. The study reveals that fulfilling social responsibilities significantly enhances corporate value. However, the effect of technological innovation negatively moderates the relationship between social responsibility and corporate value improvement. Moreover, the promotion effect of social responsibility on corporate value is more pronounced in low social sensitivity industries and state-owned enterprises. These research findings hold both theoretical and practical significance, providing valuable theoretical guidance and practical reference for future corporate development and value enhancement.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
28 September 2023
ISBN
978-94-6463-260-6
ISSN
2352-5428
DOI
10.2991/978-94-6463-260-6_4How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yang Zhang
AU  - Yanying Mo
AU  - Jing Shen
AU  - Biyue Cheng
PY  - 2023
DA  - 2023/09/28
TI  - Impact of Social Responsibility Performance of Multinational Corporations on Corporate Value: Evidence from China
BT  - Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023)
PB  - Atlantis Press
SP  - 18
EP  - 28
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-260-6_4
DO  - 10.2991/978-94-6463-260-6_4
ID  - Zhang2023
ER  -