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首页> 外文期刊>Emerging markets review >Political embeddedness, media positioning and corporate social responsibility: Evidence from China
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Political embeddedness, media positioning and corporate social responsibility: Evidence from China

机译：政治嵌入性，媒体定位和企业社会责任：来自中国的证据

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摘要

We examine the effect of political embeddedness and media positioning on corporate social responsibility (CSR). Using a sample of Chinese listed firms from 2009-2017, we provide evidence that firms with political embeddedness from the perspectives of both government ownership and managerial political connection (PC) perform more CSR than other firms, but their motivations for doing so are different. Employing media positioning, we find that firms controlled by the government conduct less CSR when they receive more positive media reporting, indicating that this is a firm's passive choice due to political pressure; and firms with PC are incentivized by negative media reporting to conduct more CSR, indicating an active choice to maintain political legitimacy. This association is robust to different media positioning measurements and endogeneity checks. Additional analyses show that this relationship is more pronounced in central government-controlled firms and regionally politically connected firms; in firms that disclose CSR reports voluntarily; and in the environment where CSR are more valued (following the 2012 national Anti-corruption Campaign and in provinces with higher levels of marketization). Overall, our study suggests that media positioning can help to identify the motivation for conducting CSR.
机译：我们研究了政治嵌入性和媒体定位对企业社会责任（CSR）的影响。从2009 - 2017年使用中国上市公司的样本，我们提供了从政府所有权和管理政治联系（PC）的角度来看的政治嵌入式的证据表现出更多的CSR，但他们的动机是不同的。雇用媒体定位，我们发现当政府控制的公司获得更加积极的媒体报告时，政府控制的公司行为，表明这是由于政治压力的公司被动选择;通过负面媒体报告，与PC的公司进行激励，以进行更多的CSR，表明保持政治合法性的积极选择。该关联对于不同的媒体定位测量和内收度检查是强大的。其他分析表明，这种关系在中央政府控制的公司和区域政治上的公司中更加明显;在公司自愿披露CSR报告的公司中;在CSR更有价值的环境中（遵循2012年国家反腐败活动和市场化水平较高的省份）。总体而言，我们的研究表明，媒体定位可以帮助确定进行CSR的动机。

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