In this paper, we examine the effect of institutional investors on corporate social responsibility (CSR). We use data on Chinese listed firms from 2010–2018 and find that (1) institutional investors significantly enhance CSR; (2) institutional investors are more inclined to affect CSR engagement through improving firms’ information transparency, internal control, and making more site visits; (3) this positive relationship is more profound for state-owned enterprises, politically connected firms, and firms with low financial constraint; and (4) only long-term institutional investors can drive CSR performance. We use three instrumental variables to address endogenous concerns and the results still hold. Overall, our findings indicate that institutional investors can have a social effect.

Purpose: This study, anchored in Self-Determination Theory, explores the paradoxical effects of gamification on digital health promotion, focusing on user engagement, physical activity adherence, stress levels and social dynamics. Design/methodology/approach: In a preregistered experimental design, participants interacted with one of three fitness apps: a non-gamified control app, a competition-based gamified app (GameFit) or a self-exploration-based gamified app (ExploreFit). Quantitative data were collected through scales measuring key variables, and qualitative insights were gathered from structured diaries. Findings: Gamification significantly enhanced user engagement and physical activity adherence. However, competition-based gamification also increased stress and negative social dynamics, with gender-specific effects: females experienced higher stress and males encountered more negative social dynamics. These adverse effects were mitigated in the ExploreFit group, suggesting that self-exploration elements in gamification can reduce negative outcomes. Originality/value: This research offers a comprehensive analysis of the complex interplay between gamification, competition, self-exploration and health outcomes. It provides valuable insights for the design of persuasive technologies, highlighting the need for a balanced approach to gamification that considers both its benefits and potential pitfalls.