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YANG, WEN (2019) The relationship between corporate social responsibility and firm value considering corporate ownership structure: An empirical research on Chinese listed companies. [Dissertation (University of Nottingham only)]

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Abstract

Abstract

Since the introduction of corporate social responsibility, the community has paid more and more attention to it, especially during the period of rapid economic development accompanied by a large amount of waste of resources, environmental pollution, and social problems. Although many theoretical studies and empirical studies have proved that CSR activities have a positive effect on company value, there are also opposing views, and no conclusion has been drawn. Therefore, this paper decided to select about 400 Chinese listed companies from 2013 to 2017 as a research sample, construct a panel regression model. CSR as an independent variable will be quantified by using Rankins Corporate Social Responsibility Rating (RKS) and firm value as a dependent variable will be measured using Tobin Q value as a financial indicator. By analyzing the regression results, it is concluded that the improvement of company value can be achieved by actively fulfilling social responsibilities. Due to China's special economic system, this paper further studies whether the implementation of social responsibility by enterprises with different ownership structures will have a different impact on firm value. The results show that the company value of state-owned enterprises will not be raised by actively taking social responsibility. At the same time, according to the performance of the control variables introduced in the model, the results also show that the larger the scale, the stronger the profitability and the higher the leverage, the better the CSR is for the improvement of firm value.

Item Type:	Dissertation (University of Nottingham only)
Depositing User:	YANG, Wen
Date Deposited:	08 Dec 2022 14:05
Last Modified:	08 Dec 2022 14:05
URI:	https://eprints.nottingham.ac.uk/id/eprint/58592

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