Luo, Ronghua, Zhao, Baofang, Han, Chunjia and Wang, Sen (2023) Does venture capital improve corporate social responsibility performance? International Review of Economics and Finance (IREF), 88. pp. 1138-1150. ISSN 1059-0560 (Print), 1873-8036 (Online) (doi:https://doi.org/10.1016/j.iref.2023.07.070)

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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 nonfinancial 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 the quality of internal control (ICQ) is an effective mechanism for venture capital to affect CSR performance. We offer new insights into the relationship between venture capital and CSR in emerging markets.

Item Type:	Article
Uncontrolled Keywords:	venture capital; corporate social responsibility (CSR); agency theory; imprinting theory; internal control quality
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HG Finance
Faculty / School / Research Centre / Research Group:	Faculty of Business
Last Modified:	04 Mar 2024 16:07
URI:	http://gala.gre.ac.uk/id/eprint/43688

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