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Sustainability 2017, 9(11), 1967; doi:10.3390/su9111967

Do Peer Firms Affect Firm Corporate Social Responsibility?

1
,
1
and
2,3,*
1
The College of Finance and Statistics, Hunan University, Changsha 410006, China
2
Guotai Junan Securities Co., Ltd., Shanghai 200120, China
3
The School of Economics, Fudan University, Shanghai 200433, China
*
Author to whom correspondence should be addressed.
Received: 7 October 2017 / Revised: 24 October 2017 / Accepted: 26 October 2017 / Published: 29 October 2017
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Abstract

Peer-firm strategies are a critical factor for corporate finance, and corporate social responsibility (CSR) is the main trend for evaluating the behavior of firms. On the basis of the connection between peer strategy and CSR, this paper explores the CSR strategies employed by a sample of Chinese firms during the 2008–2015 period. Our two main empirical findings are as follows. First, the CSR strategies of firms have a positive effect on their CSR behavior. Second, when there is the CSR gap between firms and peer firms, firms will feel the pressure from stakeholders and the public and improve the level of CSR performance. Our paper enriches empirical research on the CSR behavior of Chinese firms. View Full-Text
Keywords: peer effect; corporate social responsibility; firm behavior peer effect; corporate social responsibility; firm behavior
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Yang, S.; Ye, H.; Zhu, Q. Do Peer Firms Affect Firm Corporate Social Responsibility? Sustainability 2017, 9, 1967.

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