Corporate philanthropy and corporate social irresponsibility during the COVID-19 pandemic: evidence from China

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F04130081%3A_____%2F23%3AN0000014" target="_blank" >RIV/04130081:_____/23:N0000014 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.emerald.com/insight/content/doi/10.1108/IJOEM-08-2022-1310/full/html" target="_blank" >https://www.emerald.com/insight/content/doi/10.1108/IJOEM-08-2022-1310/full/html</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1108/IJOEM-08-2022-1310" target="_blank" >10.1108/IJOEM-08-2022-1310</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Corporate philanthropy and corporate social irresponsibility during the COVID-19 pandemic: evidence from China

Popis výsledku v původním jazyce

Purpose This study aims to investigate the perspective of corporate philanthropy during the coronavirus disease 2019 (COVID-19) in China for firms with various levels of corporate social responsibility (CSR). Specifically, the study appraises the impact of the COVID-19 pandemic on the stock returns and sustainable development of Chinese-listed companies and determines the likelihood of paying donations vis-à-vis firm reputation. Design/methodology/approach The study used data from 117 Chinese-listed firms engaged in philanthropy during the COVID-19 pandemic. The authors also utilized the stock returns and cash donation data, and owing to the cross-sectional data and continuous nature of dependent variables, they employed the ordinary least squares regression to test the research hypotheses. Findings The results show that irresponsible actions have a positive relationship with donations. The study particularly reveals that irresponsible firms have significant negative abnormal returns during the first wave of the COVID-19 pandemic. Originality/value To the best of our knowledge, this is the first empirical study to explore the perspective of corporate philanthropy during the COVID-19 pandemic for companies with different CSR levels. This study contributes to the empirical research on CSR and provides insights for managerial-cum-financial decisions to encourage managers of irresponsible firms to pursue philanthropic behaviors after crisis events.

Název v anglickém jazyce

Corporate philanthropy and corporate social irresponsibility during the COVID-19 pandemic: evidence from China

Popis výsledku anglicky

Purpose This study aims to investigate the perspective of corporate philanthropy during the coronavirus disease 2019 (COVID-19) in China for firms with various levels of corporate social responsibility (CSR). Specifically, the study appraises the impact of the COVID-19 pandemic on the stock returns and sustainable development of Chinese-listed companies and determines the likelihood of paying donations vis-à-vis firm reputation. Design/methodology/approach The study used data from 117 Chinese-listed firms engaged in philanthropy during the COVID-19 pandemic. The authors also utilized the stock returns and cash donation data, and owing to the cross-sectional data and continuous nature of dependent variables, they employed the ordinary least squares regression to test the research hypotheses. Findings The results show that irresponsible actions have a positive relationship with donations. The study particularly reveals that irresponsible firms have significant negative abnormal returns during the first wave of the COVID-19 pandemic. Originality/value To the best of our knowledge, this is the first empirical study to explore the perspective of corporate philanthropy during the COVID-19 pandemic for companies with different CSR levels. This study contributes to the empirical research on CSR and provides insights for managerial-cum-financial decisions to encourage managers of irresponsible firms to pursue philanthropic behaviors after crisis events.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50204 - Business and management

Projekt

—

Návaznosti

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Rok uplatnění

2023

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

International Journal of Emerging Markets

ISSN

1746-8809

e-ISSN

1746-8817

Svazek periodika

in print

Číslo periodika v rámci svazku

in print

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

22

Strana od-do

1-22

Kód UT WoS článku

000993370600001

EID výsledku v databázi Scopus

2-s2.0-85160090644