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Mr. Lei ZHENG (1994–) is currently a doctoral candidate at the Accounting Department of Beijing Jiaotong University. His research fields include corporate governance, corporate social responsibility, and capital market efficiency.
The socioeconomic impacts of infrastructure investment are worth examining in both academic and practical areas. Regarding Chinese high-speed railway construction, the existing literature mainly focuses on the macro-economic level consequences of high-speed railway openings, leaving the micro-economic level impacts commonly untested. Using archival data of Chinese listed companies from 2009 to 2018 and the difference-in-difference (DID) approach, this paper examines the influential effect of Chinese high-speed railway openings on corporate social responsibility (CSR) performance. Empirical results show that high-speed railway openings can significantly improve Chinese listed companies’ CSR performance, and this positive effect is more salient when companies are experiencing lower information transparency. Mediating effect tests illustrate that the increased investor site visits caused by high-speed railway openings are one internal mechanism behind the main connection. Overall, from a micro-level perspective, this article provides additional evidence on the socioeconomic impact of transportation infrastructure investments.
Lei Zheng; Xuemeng Guo; Libin Zhao. How Does Transportation Infrastructure Improve Corporate Social Responsibility? Evidence from High-Speed Railway Openings in China. Sustainability 2021, 13, 6455 .
AMA StyleLei Zheng, Xuemeng Guo, Libin Zhao. How Does Transportation Infrastructure Improve Corporate Social Responsibility? Evidence from High-Speed Railway Openings in China. Sustainability. 2021; 13 (11):6455.
Chicago/Turabian StyleLei Zheng; Xuemeng Guo; Libin Zhao. 2021. "How Does Transportation Infrastructure Improve Corporate Social Responsibility? Evidence from High-Speed Railway Openings in China." Sustainability 13, no. 11: 6455.
Using data from Chinese A-share listed companies in tourism related industries from 2009 to 2018, this paper examines the influence of institutional investor shareholdings on corporate social responsibility (CSR) performance. Results show that: First, institutional investor shareholdings can significantly improve CSR performance of tourism related public companies in China. After implementing robustness test, this positive relationship remains solid. Second, the positive effect of institutional investor shareholdings is significantly unbalanced regarding different CSR dimensions, with the most salient influence in promoting companies’ social welfare contributions. And third, the impact of institutional investor shareholdings can be strengthened when listed companies are ultimately controlled by the state.
Lei Zheng; Xuemeng Guo; Libin Zhao; Yuting Feng. Institutional Investor Shareholdings and Corporate Social Responsibility – Evidence from Tourism Related Industries in China. E3S Web of Conferences 2021, 251, 03016 .
AMA StyleLei Zheng, Xuemeng Guo, Libin Zhao, Yuting Feng. Institutional Investor Shareholdings and Corporate Social Responsibility – Evidence from Tourism Related Industries in China. E3S Web of Conferences. 2021; 251 ():03016.
Chicago/Turabian StyleLei Zheng; Xuemeng Guo; Libin Zhao; Yuting Feng. 2021. "Institutional Investor Shareholdings and Corporate Social Responsibility – Evidence from Tourism Related Industries in China." E3S Web of Conferences 251, no. : 03016.