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Do negative investor attitudes drive corporate social responsibility? Evidence from China

Author

Listed:
  • Lijing Tong
  • Wen Wen
  • Lu Xie
  • Bin Wu

Abstract

This study explores the association between negative investor attitudes and corporate social responsibility. We conjecture that negative investor attitudes may drive firms to engage more actively in corporate social responsibility to improve shareholder perceptions. Consistent with this expectation, we find that firms facing negative investor attitudes exhibit better CSR performance, and this association is more pronounced in firms that receive more attention from investors and attach more importance to investor relationships. Overall, this study highlights the influence of investor attitudes on corporate social responsibility and contributes to the literature on the determinants of corporate social responsibility.

Suggested Citation

  • Lijing Tong & Wen Wen & Lu Xie & Bin Wu, 2022. "Do negative investor attitudes drive corporate social responsibility? Evidence from China," Business Ethics, the Environment & Responsibility, John Wiley & Sons, Ltd., vol. 31(1), pages 239-256, January.
    • Handle: RePEc:wly:buseth:v:31:y:2022:i:1:p:239-256
    DOI: 10.1111/beer.12405
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    References listed on IDEAS

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    Cited by:

    1. Ziyuan Sun & Xiao Sun & Wenjiao Wang & Wei Wang, 2025. "Digital transformation and greenwashing in environmental, social, and governance disclosure: Does investor attention matter?," Business Ethics, the Environment & Responsibility, John Wiley & Sons, Ltd., vol. 34(1), pages 81-102, January.
    2. Feng, Yitian, 2026. "Do investors reward corporate integrity? Evidence from stake-raising commitments in China’s A-share market," Research in International Business and Finance, Elsevier, vol. 81(C).

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