The Effect of Corporate Social Responsibility on the Probability 
of Financial Distress for the Listed Companies in China Shenzhen 
Stock Exchange

Yugan Li; Xushi Ye

doi:10.47297/wspciWSP2516-252724.20210503

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The Effect of Corporate Social Responsibility on the Probability
of Financial Distress for the Listed Companies in China Shenzhen
Stock Exchange

5卷第3期

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The Effect of Corporate Social Responsibility on the Probability of Financial Distress for the Listed Companies in China Shenzhen Stock Exchange
The Effect of Corporate Social Responsibility on the Probability of Financial Distress for the Listed Companies in China Shenzhen Stock Exchange
Guangdong Peizheng College
2021年5卷第3期页码：125-129
DOI：10.47297/wspciWSP2516-252724.20210503
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Yugan Li & Xushi Ye. (2021). The Effect of Corporate Social Responsibility on the Probability of Financial Distress for the Listed Companies in China Shenzhen Stock Exchange. 创意与创新（英文版）, 5(3), 125-129.

YUGAN LI & XUSHI YE. (2021). The Effect of Corporate Social Responsibility on the Probability of Financial Distress for the Listed Companies in China Shenzhen Stock Exchange. Creativity and Innovation, 5(3), 125-129..
Yugan Li & Xushi Ye. (2021). The Effect of Corporate Social Responsibility on the Probability of Financial Distress for the Listed Companies in China Shenzhen Stock Exchange. 创意与创新（英文版）, 5(3), 125-129. DOI： 10.47297/wspciWSP2516-252724.20210503.

YUGAN LI & XUSHI YE. (2021). The Effect of Corporate Social Responsibility on the Probability of Financial Distress for the Listed Companies in China Shenzhen Stock Exchange. Creativity and Innovation, 5(3), 125-129.. DOI： 10.47297/wspciWSP2516-252724.20210503.

摘要

Abstract

This article presents the relationship between “Corporate Social Responsibility” and the probability of financial distress using data from Shenzhen stock exchange from 2010 to 2017. Eventually

we found the better companies’ CSR performance

the lower probability of the financial distress. This relationship strengthens when company’s net profit is negative but weaken when its net profit is positive. The research indicated the exist profit and appropriate percentage of debt are critical to firms’ operation. If firms are in deficit

it cannot survive even making great effort on CSR investment. Therefore

this article suggests managers enhance CSR performance on the premise of maintaining a certain profits.

关键词

Keywords

Corporate Social ResponsibilityAltman Z-scoreFinancial Distress

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Mechanism of Corporate Social Responsibility on Consumer Behavior

Related Author

Mei Wang

Related Institution

Tohoku University

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