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
格式: text
語言:English
出版: Institutional Knowledge at Singapore Management University 2023
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在線閱讀:https://ink.library.smu.edu.sg/sis_research/8033
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機構: Singapore Management University
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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