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<p>This paper takes the degree of debt concentration and product market competitive advantage as intermediary variables to explore the internal mechanism of the impact of CSR fulfilment on firm debt risk. It is found that the fulfilment of CSR can reduce the debt risk of firms by dispersing the degree of debt concentration and enhancing the competitive advantage of product market. The mediating effect of the degree of debt concentration has a direct impact on the competitive advantage of a product market and is particularly obvious in private firms and firms in the eastern region of China.</p>
</abstract>

This paper takes the degree of debt concentration and product market competitive advantage as intermediary variables to explore the internal mechanism of the impact of CSR fulfilment on firm debt risk. It is found that the fulfilment of CSR can reduce the debt risk of firms by dispersing the degree of debt concentration and enhancing the competitive advantage of product market. The mediating effect of the degree of debt concentration has a direct impact on the competitive advantage of a product market and is particularly obvious in private firms and firms in the eastern region of China.

The internal mechanism of corporate social responsibility fulfillment affecting debt risk in China: analysis of intermediary transmission effect based on degree of debt concentration and product market competitive advantage

Yunnan University of Finance and Economics

Applied Mathematics and Nonlinear Sciences

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

This paper takes the degree of debt concentration and product market competitive advantage as intermediary variables to explore the internal mechanism of the...

The internal mechanism of corporate social responsibility fulfillment affecting debt risk in China: analysis of intermediary transmission effect based on degree of debt concentration and product market competitive advantage

Published Online: Sep 30, 2022

Page range: 1 - 14

Received: Oct 02, 2021

Accepted: May 15, 2022

DOI: https://doi.org/10.2478/amns.2022.1.00024

Keywords
CSR fulfillment, debt risk, degree of debt concentration, product market competition advantage

© 2022 Chen Hong et al., published by Sciendo

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

The internal mechanism of corporate social responsibility fulfillment affecting debt risk in China: analysis of intermediary transmission effect based on degree of debt concentration and product market competitive advantage

Published Online: Sep 30, 2022

Page range: 1 - 14

Received: Oct 02, 2021

Accepted: May 15, 2022

DOI: https://doi.org/10.2478/amns.2022.1.00024

KeywordsCSR fulfillment, debt risk, degree of debt concentration, product market competition advantage

© 2022 Chen Hong et al., published by Sciendo

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

Keywords
CSR fulfillment, debt risk, degree of debt concentration, product market competition advantage