Impact of Construction CSR Information Disclosure Quality on Investment Efficiency
Publication: ICCREM 2023
ABSTRACT
China formally proposed double carbon target that we strive to achieve carbon peaking by 2030 and carbon neutrality by 2060. Therefore, higher requirements are put forward for enterprises. People are more concerned about the quality of corporate social responsibility (CSR). CSR reports are the medium of communication with the outside world. The number of Chinese companies that publish CSR reports is large, but many of these reports are of poor quality. This study examines the influence of the quality of CSR information disclosure on investment efficiency in the Chinese construction enterprises by the regression analysis of panel data. The results demonstrate that the quality of CSR information disclosure has a positive influence on investment efficiency of the Chinese construction enterprises. This study further verified that the better the quality of CSR information disclosure of construction companies, the more impactive they can be in reducing over-investment. Therefore, construction companies should proactively enhance the quality of CSR information disclosure.
Get full access to this chapter
View all available purchase options and get full access to this chapter.
REFERENCES
Bansal, R., and Yaron, A. (2004). “Risks for the long run: A potential resolution of asset pricing puzzles.” The Journal of Finance, 59(4), 1481-1509.
Cormier, D., and Magnan, M. (2014). “The impact of social responsibility disclosure and governance on financial analysts’ information environment.” Corporate Governance, 14(4), 467-484.
Frooman, J. (1997). “Socially irresponsible and illegal behavior and shareholder wealth: A meta-analysis of event studies.” Business and Society, 36(3), 221-249.
Kim, Y., Park, M.S., and Wier, B. (2012). “Is earnings quality associated with corporate social responsibility?” The Accounting Review, 87(3), 761-796.
Pan, H.Z., and Meng, F.P. (2020). “Strategic differentiation, quality of information disclosure and investment efficiency.” Journal of Changchun University of Science and Technology Science (social science edition), 33(04), 100-109+138. (in Chinese).
Plumlee, M., Brown, D., Hayes, R.M., and Marshall, R.S. (2015). “Voluntary environmental disclosure quality and firm value: Further evidence.” Journal of accounting and public policy, 34(4), 336-361.
Qian, J., and Zeng, H.F. (2021). “The impact of corporate social responsibility on investment efficiency.” Forestry Economy in China, 169(04), 124-127. (in Chinese).
Richardson, S. (2006). “Over-investment of free cash flow.” Review of Accounting Studies, 11(2-3), 159-189.
Zhong, M., and Gao, L. (2017). “Does corporate social responsibility disclosure improve firm investment efficiency?” Review of Accounting and Finance, 16(3), 348-365.
Information & Authors
Information
Published In
ICCREM 2023
Pages: 842 - 850
History
Published online: Nov 30, 2023
ASCE Technical Topics:
- Analysis (by type)
- Business management
- Business organizations
- Carbon fibers
- Construction companies
- Construction engineering
- Construction management
- Data analysis
- Engineering fundamentals
- Engineering materials (by type)
- Fibers
- Financial management
- Investments
- Materials engineering
- Methodology (by type)
- Organizations
- Practice and Profession
- Regression analysis
- Research methods (by type)
- Social factors
- Statistical analysis (by type)
- Sustainable development
Authors
Metrics & Citations
Metrics
Citations
Download citation
If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. Simply select your manager software from the list below and click Download.