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Is obedience rewarding? State investment in response to CSR reporting in China

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Listed:
  • Ruxi Wang

    (Renmin University of China)

  • Yihui Xiao

    (Renmin University of China)

  • Chunling Zhu

    (Renmin University of China)

  • Yuwei Qi

    (China Construction Bank)

Abstract

Scholars have recognized governmental and political influences on corporate social responsibility (CSR) reporting activities. However, whether such activities subsequently result in governmental support to firms remains unchecked. We theorize that due to governments’ multiple demands and developmental agenda, state investments with divergent underlying incentives respond differently to firms’ CSR reporting. Using a panel data analysis on 1462 Chinese private firms from 2014–2018, we find that CSR report quality is positively associated with further state investment with a socially-beneficial incentive, and negatively associated with further state investment with a profit-seeking incentive. We further reveal that the relationship between the quality of CSR report and two types of state investments are weakened by chief executive officer (CEO) succession and strengthened by a local CEO. Our study contributes to research on CSR and stakeholder theory.

Suggested Citation

  • Ruxi Wang & Yihui Xiao & Chunling Zhu & Yuwei Qi, 2025. "Is obedience rewarding? State investment in response to CSR reporting in China," Asia Pacific Journal of Management, Springer, vol. 42(3), pages 1303-1343, September.
    • Handle: RePEc:kap:asiapa:v:42:y:2025:i:3:d:10.1007_s10490-024-09973-1
    DOI: 10.1007/s10490-024-09973-1
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