Can social responsibility reduce operational risk: Empirical analysis of Chinese listed companies

doi:10.1016/j.techfore.2016.08.023

CORC > 上海财经大学 > 上海财经大学

	Can social responsibility reduce operational risk: Empirical analysis of Chinese listed companies
	Zhao, Chunguang 1; Song, Hang 1; Chen, Wanyi 2
刊名	TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE
	2016-11
卷号	112 页码:145-154
关键词	Social responsibility Operational risk Information disclosure Sustainable growth
ISSN号	0040-1625
DOI	10.1016/j.techfore.2016.08.023
英文摘要	After 30 years of rapid development, China has made great strides in economic growth but at the expense of high environmental and social costs. Listed companies should fulfill their social responsibilities not only to meet the expectations of stakeholders but also to improve management effectiveness, cultivate competitive advantage, create a good image, and achieve sustainable development. Because the influence of corporate social responsibility is expanding gradually in China, the relationship among listed companies' fulfillment of social responsibilities, information disclosure, and operational risk needs to be explored further. This study uses data on Chinese A-share listed companies from 2007 to 2009 and makes four main findings. First, listed companies improving their social responsibilities fulfillment face significantly lower operational risk. Second, listed companies publishing independent social responsibility reports face significantly increased operational risk. Third, high risk companies improving social responsibility fulfillment can significantly reduce their operational risk, while publishing independent social responsibility reports leads to significantly increased operational risk. Finally, low risk companies improving their social responsibilities fulfillment and publishing independent social responsibility reports experience changes in operational risk; however, the direction of the change varies by company. Companies with different operational risk have different effect because the company's majority shareholder is individual who lack of distinguishing news ability and CSR format is unified that is not enough to emphasize important disclosure issues. (C) 2016 Elsevier Inc. All rights reserved.
WOS研究方向	Business & Economics ; Public Administration
语种	英语
出版者	ELSEVIER SCIENCE INC
WOS记录号	WOS:000387192100016
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/1182]
专题	上海财经大学
通讯作者	Song, Hang
作者单位	1.Shanghai Natl Accounting Inst, Shanghai, Peoples R China; 2.Shanghai Univ Finance & Econ, Financial Management, Shanghai, Peoples R China
推荐引用方式 GB/T 7714	Zhao, Chunguang,Song, Hang,Chen, Wanyi. Can social responsibility reduce operational risk: Empirical analysis of Chinese listed companies[J]. TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE,2016,112:145-154.
APA	Zhao, Chunguang,Song, Hang,&Chen, Wanyi.(2016).Can social responsibility reduce operational risk: Empirical analysis of Chinese listed companies.TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE,112,145-154.
MLA	Zhao, Chunguang,et al."Can social responsibility reduce operational risk: Empirical analysis of Chinese listed companies".TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE 112(2016):145-154.