Article
Corporate social responsibility fulfilment, product-market competition and debt risk: Evidence from China
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Abstract
Based on the financial data for Chinese A-share companies listed in the Shanghai and Shenzhen stock exchanges and the corporate social responsibility (CSR) score data published in the Hexun website‡from 2010 to 2019, we carried out an empirical study and found that CSR fulfilment helps to restrain debt risk faced by firms, and that product-market competition can promote the inhibitory effect of CSR fulfilment on debt risk. The further study found that CSR fulfilment of monetary capital layer and human capital layer on debt risk will be significantly stronger than that of social capital layer.
Keywords
CSR fulfilment, debt risk, product-market competition, stratification impact
Citation
Hong, C., Xuefei, P., & Caiyun, C. (2021). Corporate social responsibility fulfilment, product-market competition and debt risk: Evidence from china. Applied Mathematics and Nonlinear Sciences, 6(2), 757–772. https://doi.org/10.2478/amns.2021.2.00163
C. Hong, P. Xuefei and C. Caiyun, “Corporate social responsibility fulfilment, product-market competition and debt risk: Evidence from china,” Applied Mathematics and Nonlinear Sciences, vol. 6, no. 2, pp. 757–772, 2021, doi: 10.2478/amns.2021.2.00163.
Hong C, Xuefei P, Caiyun C. Corporate social responsibility fulfilment, product-market competition and debt risk: Evidence from china. Applied Mathematics and Nonlinear Sciences. 2021;6(2):757–772. doi:10.2478/amns.2021.2.00163.
Hong, C., Xuefei, P. and Caiyun, C. (2021), ‘Corporate social responsibility fulfilment, product-market competition and debt risk: Evidence from china’, Applied Mathematics and Nonlinear Sciences, 6(2), pp. 757–772. Available at: https://doi.org/10.2478/amns.2021.2.00163.
Hong, Chen, et al. “Corporate Social Responsibility Fulfilment, Product-market Competition and Debt Risk: Evidence from China.” Applied Mathematics and Nonlinear Sciences, vol. 6, no. 2, 2021, pp. 757–772. https://doi.org/10.2478/amns.2021.2.00163.
Hong, Chen, Peng Xuefei, and Chen Caiyun. “Corporate Social Responsibility Fulfilment, Product-market Competition and Debt Risk: Evidence from China.” Applied Mathematics and Nonlinear Sciences 6, no. 2 (2021): 757–772. https://doi.org/10.2478/amns.2021.2.00163.
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