Leviathan Inc. and Corporate Environmental Engagement

In a 2010 special report, The Economist magazine termed the resurgence of state-owned, publicly listed enterprises “Leviathan Inc.” and criticized the poor governance and low efficiency of these firms. We compile a new comprehensive data set of state ownership of publicly listed firms in 44 countries over the period of 2004–2017 and show that state-owned enterprises are more responsive to environmental issues. The effect is more pronounced in economies lacking energy security and strong environmental regulation, and among firms with more local operations and higher domestic government ownership. We find a similar effect on corporate social engagement but not on governance quality. These results suggest a different role for “Leviathan Inc.,” especially in dealing with environmental externalities. This paper was accepted by Management Science Special Issue on Business and Climate Change.

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How government withdrawal affects corporate social performance?

Revista de Contabilidad ◽

10.6018/rcsar.399841 ◽

2022 ◽

Vol 25 (1) ◽

pp. 136-146

Author(s):

Farman Ullah Khan ◽

Junrui Zhang ◽

Sajid Ullah ◽

Muhammad Usman ◽

Shahid Ali

Keyword(s):

Social Engagement ◽

Corporate Social Performance ◽

Developing Economies ◽

Social Performance ◽

Negative Relationship ◽

State Ownership ◽

Political Connection ◽

Policy Makers ◽

Listed Firms ◽

Corporate Social

This study aims to investigate whether government withdrawal affect corporate social responsibility (CSR) performance, and how CEO’s political connection moderates its relationship. We use sample data from Chinese listed firms over the 2010 to 2015 period to test our hypotheses. We find that decrease in state ownership through government withdrawal tends to negatively affect firms’ CSR performance, but the CEO’s political connection weakens its negative relationship and increases the firm’s likelihood towards CSR activities. Our findings imply that firm’s social engagement mainly result from high governmental involvement, and usually from political connections, because such firms are subject to close scrutiny by stakeholders and thus are more likely to improve social performance. Moreover, this research provides important implications to policy makers regarding the social outcomes of government withdrawal and the usefulness of firms’ political connection in developing economies like China. Este estudio tiene como objetivo investigar si la retirada del gobierno afecta al rendimiento de la responsabilidad social corporativa (RSC), y cómo la conexión política del CEO modera su relación. Utilizamos los datos de una muestra de empresas chinas que cotizan en bolsa durante el período 2010-2015 para comprobar nuestras hipótesis. Encontramos que la disminución de la propiedad estatal a través de la retirada del gobierno tiende a afectar negativamente a los resultados de RSC de las empresas, pero la conexión política del CEO debilita su relación negativa y aumenta la probabilidad de la empresa hacia las actividades de RSC. Nuestras conclusiones implican que el compromiso social de las empresas se debe principalmente a la alta participación gubernamental, y normalmente a las conexiones políticas, porque estas empresas están sometidas a un estrecho escrutinio por parte de las partes interesadas y, por lo tanto, es más probable que mejoren sus resultados sociales. Además, esta investigación ofrece importantes implicaciones para los responsables políticos en relación con los resultados sociales de la retirada del gobierno y la utilidad de la conexión política de las empresas en economías en desarrollo como China.

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Female directors on corporate boards and their impact on corporate social responsibility (CSR): evidence from China

Management Research Review ◽

10.1108/mrr-09-2020-0560 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Waqas Bin Khidmat ◽

Muhammad Danish Habib ◽

Sadia Awan ◽

Kashif Raza

Keyword(s):

Corporate Governance ◽

Corporate Social Responsibility ◽

Gender Diversity ◽

State Ownership ◽

Corporate Boards ◽

Female Representation ◽

Content Type ◽

Listed Firms ◽

Self Selection ◽

Corporate Social

Purpose This study aims to examine the determinants of the female representations on Chinese listed firm’s boards. This study also investigates the effect of gender diversity on corporate social responsibility activities. Design/methodology/approach The Tobit regression model is used because the data is censored and using ordinary least square regression can give spurious results. For robust check, the authors also used Heckman’s (1979) two-stage self-selection model to remove the sample self-selection bias. Findings The authors find that the female representations on the corporate board are positively associated with firm age, firm performance, corporate governance, family ownership, institutional ownership and managerial ownership while negatively related to firm size and state ownership. This study also incorporates predictors of the critical mass of women on the Chinese listed firm’s board. The study also tests the female-led hypothesis and concludes that the female representation increases in firms with female chief executive officer (CEO) or female chairpersons. The Chinese listed firms with gender-diverse board are socially responsible. Research limitations/implications The importance of diversity in corporate boards has been demonstrated in light of the agency theory and the resource dependence framework. The results contribute to the previous literature by documenting the determinants of female representations on board, robust by alternative measures of gender diversity, firm size, corporate governance and estimation techniques. Practical implications The economic significance of gender diversity stirred the firms to increase female representation. The policymakers can understand the reasons for female underrepresentation in Chinese boards and can reform the regulation to enhance governance quality, non-state ownership and risk aversion among the listed firms. Originality/value This study contributes to the literature by providing empirical evidence on the key predictor of the world’s largest emerging economy, specifically the study focuses on the firm specific determinants, different governance attributes, ownership structure and firm risk measures. This study also seeks to answer if the presence of a female in the Chairperson or CEO position encourages the firms to hire more female directors or not?

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Nexus Between Corporate Social Responsibility, Environmental Disclosure and Financial Reporting Quality Among Listed Firms in Nigeria

International Journal of Financial Research ◽

10.5430/ijfr.v12n2p93 ◽

2021 ◽

Vol 12 (2) ◽

pp. 93

Author(s):

Odia Honesty Amenaghawon ◽

Gbenga Ekundayo ◽

Festus Odhigu ◽

Mary Josiah

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Financial Reporting ◽

Stock Exchange ◽

Reporting Quality ◽

Financial Reporting Quality ◽

Environmental Disclosure ◽

Data Set ◽

Listed Firms ◽

Corporate Social

This paper seeks to provide a novel approach and insight into the synergies between corporate social responsibility (CSR), environmental disclosure (ED) and financial reporting quality (FRQ) which is emerging and changing rapidly. The study examined the nexus between corporate social responsibility (CSR), environmental disclosure (ED) and financial reporting quality (FRQ) among corporate entities listed on the Nigeria Stock Exchange (NSE). Data were collected from a sample of 169 listed firms in Nigeria. The research used a panel data set comprising of 624 firm year observations spanning the period 2015 to 2017. The empirical results of the study revealed that there exists a significant relationship between environmental disclosure(ED), firm size (FS), and financial reporting quality (FRQ). However, empirical evidence shows an insignificant relationship between social disclosure (SD), leverage and financial reporting quality (FRQ). We therefore recommend a proposal for the establishment of an inductive corporate social responsibility/environmental disclosure/financial reporting framework that future scientists/scholars can institute to explore the determinants of corporate social responsibility (CSR), environmental disclosure (ED) and financial reporting quality (FRQ) in developing countries.

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Profitability, state ownership, tax reporting and corporate social responsibility: evidence from Chinese listed firms

Social Responsibility Journal ◽

10.1108/srj-06-2014-0076 ◽

2016 ◽

Vol 12 (1) ◽

pp. 23-31 ◽

Cited By ~ 15

Author(s):

Bixia Xu ◽

Tao Zeng

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Sample Size ◽

State Ownership ◽

Reporting Behavior ◽

Content Type ◽

Listed Firms ◽

Tax Reporting ◽

Corporate Social ◽

The Relationship

Purpose – This paper aims to examine corporate social responsibility (CSR) in the context of listed Chinese firms. In particular, it examines the relationships between CSR and profitability, state ownership and tax reporting behavior. Design/methodology/approach – The paper is an empirical study using CSR reports published by the Chinese Academy of Social Sciences and financial data collected from the China Stock Market Financial Statement Database (CSMAR). Findings – The paper finds that state ownership is positively associated with CSR and its three components including the governance, social and environmental scores; firm profitability is positively associated with CSR and its market score; and tax reporting behavior is negatively associated with the environmental score. But the result is weak. Research limitations/implications – The results in this study should be treated with some caution as the sample size of 85 observations represents only a small fraction of China’s listed firms. A larger sample size is desirable and may affect our results. Social implications – This paper is of interest to policy-makers, corporate management and academics who wish to explore the relationship between CSR and other firm characteristics. Originality/value – This paper is the first study which provides a comprehensive examination of CSR and its four components in connection with Chinese firms. In particular, it examines the relationship between CSR and profitability and state ownership.

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THE INFLUENCE OF BOARD CHARACTERISTICS AND STATE HOLDING ON CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE, EVIDENCE FROM VIETNAMESE LISTED FIRMS

Verslas teorija ir praktika ◽

10.3846/btp.2021.13490 ◽

2021 ◽

Vol 22 (1) ◽

pp. 190-201

Author(s):

Thi Lien Huong Nguyen ◽

Nhat Minh Tran ◽

Manh Chien Vu

Keyword(s):

Regression Analysis ◽

Corporate Social Responsibility ◽

Social Responsibility ◽

Stock Exchange ◽

State Ownership ◽

Board Diversity ◽

Listed Firms ◽

Corporate Social Responsibility Disclosure ◽

Corporate Social ◽

Firm Governance

Analysing the nexus between board diversity, CEO power, state holding, and corporate social responsibility disclosure in an emerging country: Vietnam, where some listed firms are held significantly by the State, is the fundamental objective of this study. In order to achieve this goal, we employed regression analysis using panel data. While board diversity consists of board gender diversification and board independence and CEO (executive) power, consisting of executive duality, executive holding (ownership), and deputy CEO, and state ownership are explanatory variables, and CSR disclosure is a dependent variable. The sample contains of 166 Vietnamese listed firms at the Hanoi Stock Exchange (HNX) for 2014−2016. After performing regression analysis, the result revealed that the proportion of female directors, deputy CEO, and state holding had a significant correlation with CSR publication. In contrast, the proportion of independent directors, CEO duality, and CEO ownership was found to be insignificant. Our research adds to the research on firm governance and CSR in several approaches. First, the paper adds to the study on the advancement of research toward corporate social responsibility and firm governance and CEO features impress on it. Second, our research expands CSR literature in developing countries, which has not been treated in detail. Fourth, this research advances and adds literature to some theories, including agency theory and resource-based view theory.

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Ownership Reduction in State-Owned Enterprises and Corporate Social Responsibility: Perspective from Secondary Privatization in China

Sustainability ◽

10.3390/su11041008 ◽

2019 ◽

Vol 11 (4) ◽

pp. 1008 ◽

Cited By ~ 9

Author(s):

Farman Khan ◽

Junrui Zhang ◽

Muhammad Usman ◽

Alina Badulescu ◽

Muhammad Sial

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Corporate Social Performance ◽

Social Performance ◽

Research Question ◽

State Ownership ◽

Listed Firms ◽

Using Data ◽

Corporate Social ◽

Share Structure

As an emerging economy, China modernized its economy via split-share structure reform. This reform changed the nature of ownership in state-owned enterprises (SOEs). Following this reform, we investigated the research question concerning how reductions in state ownership affect the corporate social responsibility (CSR) performance of listed firms. This study tests the hypotheses using data of Chinese listed firms between 2010 and 2015. Applying multiple regressions, we found a negative association between state reductions and CSR performance. We contribute to the existing literature by providing empirical evidence that those firms which reduce state holdings are not taking CSR activities seriously. Our study also sheds light on the worthiness and prominent status of large state owners of SOEs, as they are more likely to engage in social activities. This study provides fruitful implications for policy-makers and practitioners about state holdings, which may either hinder or enhance the corporate social performance.

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Financial performance of China’s listed firms in presence of coronavirus: Evidence from corporate culture and corporate social responsibility

Current Psychology ◽

10.1007/s12144-021-02200-w ◽

2021 ◽

Author(s):

Fengjiao Zheng ◽

Zhiying Zhao ◽

Yunpeng Sun ◽

Yousaf Ali Khan

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Financial Performance ◽

Corporate Culture ◽

Listed Firms ◽

Corporate Social

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Social Media in Communicating about Social and Environmental Issues—Non-Financial Reports in Poland

Information ◽

10.3390/info12060220 ◽

2021 ◽

Vol 12 (6) ◽

pp. 220

Author(s):

Ewa Stawicka ◽

Joanna Paliszkiewicz

Keyword(s):

Good Practice ◽

Environmental Issues ◽

Marketing Communication ◽

Limited Extent ◽

Socially Responsible ◽

Communication Tools ◽

Financial Reports ◽

Good Practices ◽

Corporate Social ◽

The Impact

The main purpose of this article is to analyze the dissemination of social reports among entrepreneurs in order to determine the number of reporting organizations and examples in which Corporate Social Responsibility (CSR) areas enterprises report. We analyze the dissemination of social reports among entrepreneurs in Poland and determine the number of reporting organizations and examples in which CSR companies report. This work is a guide for entrepreneurs in Poland to build strategies and activities for transparency and communicating good practice. One of the research goals was to identify and evaluate communication activities with stakeholders in terms of responsible activities, social and environmental. The data analysis comes from a detailed literature review and the Responsible Business Forum (FOB) Reports database for 2008–2019 in Poland. The results of the survey show that many entrepreneurs in Poland, representing small, medium-sized (SME), and even large enterprises underestimate the importance of socially responsible activities. Entrepreneurs communicate with stakeholders to a limited extent and are not informed about good practices. The vast majority of the surveyed enterprises, especially large ones, prepare social reports, which result from obligation: requirements of Directive 2014/95/EU. The SME sector shows a lack of knowledge and uses individual marketing communication tools to a limited extent, limiting itself to advertising activities (very few companies prepare social reports). The article is a practical tip for enterprises showing the impact of business on changes towards sustainable development. Originality/value lies in the fact that the article presents selected research results on various aspects related to social reporting and communicating social and environmental activities to stakeholders.

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