Social Status and Corporate Social Responsibility: Evidence from Chinese Privately Owned Firms

In countries such as China, where Confucianism is the backbone of national culture, high-social-status entrepreneurs are inclined to engage in corporate social responsibility (CSR) activities due to the perceived high stress from stakeholders and high ability of doing CSR. Based on a large-scale survey of private enterprises in China, our paper finds that Chinese entrepreneurs at private firms who have high social status are prone to engage in...