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Effects of digital media development on corporate financial behavior: Moderating role of corporate social responsibility

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  • Zhu, Fengzhan
  • Zhang, Dan
  • Li, Li

Abstract

This study empirically investigates the relationship between the development of digital media and corporate financial behavior using data from A-share listed companies for 2020–2024. The results show a significant positive relationship between digital media development and corporate financial behavior, with corporate social responsibility positively moderating this relationship. Furthermore, the impact of digital media on corporate financial behavior is more pronounced in enterprises with a high concentration of ownership and in high-tech enterprises.

Suggested Citation

  • Zhu, Fengzhan & Zhang, Dan & Li, Li, 2025. "Effects of digital media development on corporate financial behavior: Moderating role of corporate social responsibility," Finance Research Letters, Elsevier, vol. 74(C).
    • Handle: RePEc:eee:finlet:v:74:y:2025:i:c:s1544612324017471
    DOI: 10.1016/j.frl.2024.106718
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