Economic policy uncertainty and imitation behaviors of corporate social responsibility practices: Evidence from China

In this paper, we examine whether firms facing higher economic policy uncertainty (EPU) are more likely to show similar corporate social responsibility (CSR) practices compared with their peer firms. Drawing upon institutional theory, in response to uncertainty under complex circumstances, managers...

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Main Authors:	XUE, Xingnan, HU, Nan
Format:	text
Language:	English
Published:	Institutional Knowledge at Singapore Management University 2023
Subjects:	Corporate social responsibility Document similarity Economic policy uncertainty Institutional theory Asian Studies Business Law, Public Responsibility, and Ethics Finance and Financial Management Industrial Organization
Online Access:	https://ink.library.smu.edu.sg/sis_research/8033
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Institution:	Singapore Management University
Language:	English

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spelling	sg-smu-ink.sis_research-90362023-08-11T03:18:03Z Economic policy uncertainty and imitation behaviors of corporate social responsibility practices: Evidence from China XUE, Xingnan HU, Nan In this paper, we examine whether firms facing higher economic policy uncertainty (EPU) are more likely to show similar corporate social responsibility (CSR) practices compared with their peer firms. Drawing upon institutional theory, in response to uncertainty under complex circumstances, managers tend to imitate peer firms' strategic actions to acquire legitimacy. Consistent with our theoretical expectations, we find that EPU increases the likelihood that a focal firm will show CSR practices similar to its peer firms. Such a likelihood is amplified for firms that (1) bear more negative media coverage, (2) have higher industry competition intensity, (3) belong to heavy-polluting industries, and (4) for the first-time disclosures. Our results hold when we employ a series of endogeneity tests and robustness checks. 2023-10-01T07:00:00Z text https://ink.library.smu.edu.sg/sis_research/8033 info:doi/10.1016/j.irfa.2023.102753 Research Collection School Of Computing and Information Systems eng Institutional Knowledge at Singapore Management University Corporate social responsibility Document similarity Economic policy uncertainty Institutional theory Asian Studies Business Law, Public Responsibility, and Ethics Finance and Financial Management Industrial Organization
institution	Singapore Management University
building	SMU Libraries
continent	Asia
country	Singapore Singapore
content_provider	SMU Libraries
collection	InK@SMU
language	English
topic	Corporate social responsibility Document similarity Economic policy uncertainty Institutional theory Asian Studies Business Law, Public Responsibility, and Ethics Finance and Financial Management Industrial Organization
spellingShingle	Corporate social responsibility Document similarity Economic policy uncertainty Institutional theory Asian Studies Business Law, Public Responsibility, and Ethics Finance and Financial Management Industrial Organization XUE, Xingnan HU, Nan Economic policy uncertainty and imitation behaviors of corporate social responsibility practices: Evidence from China
description	In this paper, we examine whether firms facing higher economic policy uncertainty (EPU) are more likely to show similar corporate social responsibility (CSR) practices compared with their peer firms. Drawing upon institutional theory, in response to uncertainty under complex circumstances, managers tend to imitate peer firms' strategic actions to acquire legitimacy. Consistent with our theoretical expectations, we find that EPU increases the likelihood that a focal firm will show CSR practices similar to its peer firms. Such a likelihood is amplified for firms that (1) bear more negative media coverage, (2) have higher industry competition intensity, (3) belong to heavy-polluting industries, and (4) for the first-time disclosures. Our results hold when we employ a series of endogeneity tests and robustness checks.
format	text
author	XUE, Xingnan HU, Nan
author_facet	XUE, Xingnan HU, Nan
author_sort	XUE, Xingnan
title	Economic policy uncertainty and imitation behaviors of corporate social responsibility practices: Evidence from China
title_short	Economic policy uncertainty and imitation behaviors of corporate social responsibility practices: Evidence from China
title_full	Economic policy uncertainty and imitation behaviors of corporate social responsibility practices: Evidence from China
title_fullStr	Economic policy uncertainty and imitation behaviors of corporate social responsibility practices: Evidence from China
title_full_unstemmed	Economic policy uncertainty and imitation behaviors of corporate social responsibility practices: Evidence from China
title_sort	economic policy uncertainty and imitation behaviors of corporate social responsibility practices: evidence from china
publisher	Institutional Knowledge at Singapore Management University
publishDate	2023
url	https://ink.library.smu.edu.sg/sis_research/8033
_version_	1779156865907687424

Economic policy uncertainty and imitation behaviors of corporate social responsibility practices: Evidence from China

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