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Are Socially Responsible Companies Really Ethical? The Moderating Role of State-Owned Enterprises: Evidence from China

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  • Xiangyu Chen

    (School of Accounting, Zhejiang University of Finance and Economics, Hangzhou 310018, China)

  • Muhammad Safdar Sial

    (Department of Management Sciences, COMSATS University Islamabad (CUI), Islamabad 44000, Pakistan
    Institute of Business Research, University of Economics Ho Chi Minh City, Ho Chi Minh City 700000, Vietnam)

  • Dang Khoa Tran

    (Institute of Business Research, University of Economics Ho Chi Minh City, Ho Chi Minh City 700000, Vietnam)

  • Waseem Alhaddad

    (Banking and Finance Department, Al-Ahliyya Amman University, Amman 19328, Jordan)

  • Jinsoo Hwang

    (The College of Hospitality and Tourism Management, Sejong University, 98 Gunja-Dong, Gwanjin-Gu, Seoul 143-747, Korea)

  • Phung Anh Thu

    (Faculty of Finance and Accounting, Nguyen Tat Thanh University, Ho Chi Minh City 700000, Vietnam)

Abstract

The present research aims to explore the relationship between corporate social responsibility and earnings management (EM). For this study, we utilized the panel data of companies registered with the Shanghai and the Shenzhen stock exchanges. The data consists of 10years of financial data from 2010 to 2019. After a thorough investigation, we discovered that CSR hurts the EM practice, which mainly relates to the prevalence of the ethical stance and the moral stance in corporate decision-making. When firms engage in activities about CSR, they tend to improve their corporate image and their social image as the stakeholder satisfaction level increases. The results also indicate that, when firms engage in these types of activities, they tend to incorporate practices related to CSR as part of their corporate strategy. This also results in a higher moral standing amongst the decision-makers, and they prefer to reject malpractices, such as EM, as a result. In the case of the Chinese state-owned firms, the results indicate that these companies increasingly engage in real earnings management (REM), even though they have increased their CSR activities. The results point towards management opportunism with Chinese state-owned companies.

Suggested Citation

  • Xiangyu Chen & Muhammad Safdar Sial & Dang Khoa Tran & Waseem Alhaddad & Jinsoo Hwang & Phung Anh Thu, 2020. "Are Socially Responsible Companies Really Ethical? The Moderating Role of State-Owned Enterprises: Evidence from China," Sustainability, MDPI, vol. 12(7), pages 1-19, April.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:7:p:2858-:d:341099
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