| 英文摘要
| Recent research on CSR mainly focuses on the impact of financial status on the corporateu0027s performance of CSR, while ignoring that peer companies also have influences on the corporateu0027s CSR decisions. The peer effect of CSR refers to the extrinsic impact on CSR performance due to other companies CSR performance in the same industry or geographical area.
This paper selects 3,901 samples of A-share companies listed on the Main Board in Shanghai and Shenzhen markets from 2012 to 2017. By conducting empirical analysis on the peer effect of CSR, I find that (1) peer effect of CSR exists in China; (2) the relative CSR performance is predictable if a companyu0027s CSR performance outperform its peer group last year, itu0027s more likely the company will surpass its peer group this year; (3) the absolute CSR score is predictable if a companyu0027s CSR score is greater than its peer groupu0027s last year, thereu0027s a high chance its CSR score will decrease this year. |
