<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>Based on the financial data for Chinese A-share companies listed in the Shanghai and Shenzhen stock exchanges and the corporate social responsibility (CSR) score data published in the Hexun website<sup>‡</sup>from 2010 to 2019, we carried out an empirical study and found that CSR fulfilment helps to restrain debt risk faced by firms, and that product-market competition can promote the inhibitory effect of CSR fulfilment on debt risk. The further study found that CSR fulfilment of monetary capital layer and human capital layer on debt risk will be significantly stronger than that of social capital layer.</p>
</abstract>

Based on the financial data for Chinese A-share companies listed in the Shanghai and Shenzhen stock exchanges and the corporate social responsibility (CSR) score data published in the Hexun website‡from 2010 to 2019, we carried out an empirical study and found that CSR fulfilment helps to restrain debt risk faced by firms, and that product-market competition can promote the inhibitory effect of CSR fulfilment on debt risk. The further study found that CSR fulfilment of monetary capital layer and human capital layer on debt risk will be significantly stronger than that of social capital layer.

Corporate social responsibility fulfilment, product-market competition and debt risk: Evidence from China

Yunnan University of Finance and Economics

Applied Mathematics and Nonlinear Sciences

This work is licensed under the Creative Commons Attribution 4.0 International License.

Based on the financial data for Chinese A-share companies listed in the Shanghai and Shenzhen stock exchanges and the corporate social responsibility (CSR)...

Corporate social responsibility fulfilment, product-market competition and debt risk: Evidence from China

Published Online: Mar 31, 2022

Page range: 757 - 772

Received: Jul 13, 2021

Accepted: Dec 06, 2021

DOI: https://doi.org/10.2478/amns.2021.2.00163

Keywords
CSR fulfilment, debt risk, product-market competition, stratification impact

© 2021 Chen Hong et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Corporate social responsibility fulfilment, product-market competition and debt risk: Evidence from China

Published Online: Mar 31, 2022

Page range: 757 - 772

Received: Jul 13, 2021

Accepted: Dec 06, 2021

DOI: https://doi.org/10.2478/amns.2021.2.00163

KeywordsCSR fulfilment, debt risk, product-market competition, stratification impact

© 2021 Chen Hong et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
CSR fulfilment, debt risk, product-market competition, stratification impact