Does venture capital improve corporate social responsibility performance?

Luo, R. and Zhao, B. and Han, Chunjia and Wang, S. (2023) Does venture capital improve corporate social responsibility performance? International Review of Economics and Finance 88 , pp. 1138-1150. ISSN 1059-0560.

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Official URL: https://doi.org/10.1016/j.iref.2023.07.070

Abstract

In recent years, market agents have paid more attention to firm-level sustainable developments, but the economic effects of venture capital on corporate social responsibility (CSR) performance are not clear. We empirically investigated this issue using data from Chinese non-financial A-share listed firms between 2010 and 2019. We found that venture capital participation may reduce the CSR performance of portfolio companies (e.g., SMEs), and high-quality internal control would moderate the relationship between venture capital and CSR performance. We suggest that the Chinese regulatory agencies should further direct institutional investors to establish socially responsible investments (SRI), optimise the information disclosure of CSR and enhance the listed companies’ internal control system.

Metadata

Item Type:	Article
School:	Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
Depositing User:	Chunjia Han
Date Deposited:	31 Jul 2023 14:50
Last Modified:	02 Aug 2023 18:21
URI:	https://eprints.bbk.ac.uk/id/eprint/51636

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