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Full-Text Articles in Business
Institutional Ownership And Value Relevance Of Corporate Social Responsibility Disclosure: Empirical Evidence From China, Ramiz Ur Rehman, Zahid Riaz, Charles Cullinan, Junrui Zhang, Fanghua Wang
Institutional Ownership And Value Relevance Of Corporate Social Responsibility Disclosure: Empirical Evidence From China, Ramiz Ur Rehman, Zahid Riaz, Charles Cullinan, Junrui Zhang, Fanghua Wang
Accounting Department Faculty Journal Articles
We examine the relationship between corporate social responsibility (CSR) disclosure and firm value in China. Using a sample of listed companies on the Shanghai Stock Exchange from 2008 to 2012, we find that market value of a firm is higher when a company makes a lower level of CSR disclosure. Other things being equal, this relationship becomes positive when the CSR disclosure is moderated with the institutional ownership. With regard to the CSR disclosure, we found consistent results with respect to the little evidence that the amount of CSR disclosure is significantly associated with market value among those companies who …