Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅱ
Series Vol. 4 , 21 March 2023
Open
Access | Article
Research on the impact of corporate social responsibility information disclosure and corporate innovation in China
* Author to whom correspondence should be addressed.
Abstract
China started to implement a new system in 2008, asking fractional companies to make public their corporate social responsibility information disclosure. The financial and corporate governance data of Chinese A-share listed businesses from 2007 to 2016 was gathered in order to determine any potential relationships between the mandated corporate social responsibility disclosure system and company patents. According to the two opposite hypotheses of the information hypothesis and reputation hypothesis, the results show that the number of patents of companies surveyed has increased significantly after the implement of the policy of mandatory CSR disclosure. Additionally, after company’s patents are separated into invention type patents and utility models, industrial design (non-invention type) patents, invention type patents significantly increase in comparison. This means that the information hypothesis has been supported more. CSR disclosure can effectively alleviate the information asymmetry existed in the internal of the enterprise, increase shareholders’ confidence, and reduce the problems of corporate financial restrictions. Several robustness tests have proved that the model and conclusions are both steady. This may provide a reference for the government to improve the mandatory disclosure policy further and help improve the capital market development in China.
Keywords
Corporate innovation., Information disclosure, Information asymmetry, Corporate social responsibility
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅱ
- ISBN (Print)
- 978-1-915371-17-1
- ISBN (Online)
- 978-1-915371-18-8
- Published Date
- 21 March 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/4/20221040
- Copyright
- 21 March 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited