Kindness is rewarded! The impact of corporate social responsibility on Chinese market reactions to the COVID-19 pandemic

This study takes the COVID-19 outbreak as a quasi-natural experiment to investigate whether corporate social responsibility (CSR) performance can help firms mitigate drops in their share prices. The results show that CSR ratings are positively associated with cumulative abnormal return (CAR) during...

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Detalles Bibliográficos
Autores principales: Yi, Yuyang, Zhang, Zongyi, Yan, Youliang
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier B.V. 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8423668/
https://www.ncbi.nlm.nih.gov/pubmed/34511668
http://dx.doi.org/10.1016/j.econlet.2021.110066
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author Yi, Yuyang
Zhang, Zongyi
Yan, Youliang
author_facet Yi, Yuyang
Zhang, Zongyi
Yan, Youliang
author_sort Yi, Yuyang
collection PubMed
description This study takes the COVID-19 outbreak as a quasi-natural experiment to investigate whether corporate social responsibility (CSR) performance can help firms mitigate drops in their share prices. The results show that CSR ratings are positively associated with cumulative abnormal return (CAR) during the COVID-19 outbreaks periods. Further, the positive role of CSR is more significant for non-state-owned enterprises (non-SOE) and those located in regions with lower levels of marketization.
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spelling pubmed-84236682021-09-08 Kindness is rewarded! The impact of corporate social responsibility on Chinese market reactions to the COVID-19 pandemic Yi, Yuyang Zhang, Zongyi Yan, Youliang Econ Lett Article This study takes the COVID-19 outbreak as a quasi-natural experiment to investigate whether corporate social responsibility (CSR) performance can help firms mitigate drops in their share prices. The results show that CSR ratings are positively associated with cumulative abnormal return (CAR) during the COVID-19 outbreaks periods. Further, the positive role of CSR is more significant for non-state-owned enterprises (non-SOE) and those located in regions with lower levels of marketization. Elsevier B.V. 2021-11 2021-09-08 /pmc/articles/PMC8423668/ /pubmed/34511668 http://dx.doi.org/10.1016/j.econlet.2021.110066 Text en © 2021 Elsevier B.V. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Yi, Yuyang
Zhang, Zongyi
Yan, Youliang
Kindness is rewarded! The impact of corporate social responsibility on Chinese market reactions to the COVID-19 pandemic
title Kindness is rewarded! The impact of corporate social responsibility on Chinese market reactions to the COVID-19 pandemic
title_full Kindness is rewarded! The impact of corporate social responsibility on Chinese market reactions to the COVID-19 pandemic
title_fullStr Kindness is rewarded! The impact of corporate social responsibility on Chinese market reactions to the COVID-19 pandemic
title_full_unstemmed Kindness is rewarded! The impact of corporate social responsibility on Chinese market reactions to the COVID-19 pandemic
title_short Kindness is rewarded! The impact of corporate social responsibility on Chinese market reactions to the COVID-19 pandemic
title_sort kindness is rewarded! the impact of corporate social responsibility on chinese market reactions to the covid-19 pandemic
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8423668/
https://www.ncbi.nlm.nih.gov/pubmed/34511668
http://dx.doi.org/10.1016/j.econlet.2021.110066
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AT yanyouliang kindnessisrewardedtheimpactofcorporatesocialresponsibilityonchinesemarketreactionstothecovid19pandemic

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