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Enhancing green total factor productivity through corporate social responsibility: The moderating effect of environmental regulations

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  • Li, Zetong
  • Cao, Jingjie

Abstract

Drawing on a comprehensive dataset spanning from 2012 to 2022, this paper delves into the relationship between corporate social responsibility (CSR) and green total factor productivity (GTFP) among A-share listed manufacturing companies in China. Our findings underscore the pivotal role of CSR in bolstering GTFP, thereby fostering environmental sustainability. Notably, we observe that environmental regulations serve as a catalyst, positively amplifying the beneficial impact of CSR on GTFP. Furthermore, in pursuit of fulfilling their CSR commitments, firms have increased their investments in research and development (R&D), a strategic move that has significantly enhanced their GTFP performance.

Suggested Citation

  • Li, Zetong & Cao, Jingjie, 2025. "Enhancing green total factor productivity through corporate social responsibility: The moderating effect of environmental regulations," Finance Research Letters, Elsevier, vol. 71(C).
    • Handle: RePEc:eee:finlet:v:71:y:2025:i:c:s1544612324014958
    DOI: 10.1016/j.frl.2024.106466
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    References listed on IDEAS

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