Good Deeds Done in Silence: Stakeholder Management and Quiet Giving by Chinese Firms

Published Online:https://doi.org/10.1287/orsc.2020.1385

References

  • Ambrose ML , Seabright MA , Schminke M (2002) Sabotage in the workplace: The role of organizational injustice. Organ. Behav. Human Decision Processes 9(1):947–965.CrossrefGoogle Scholar
  • An H , Zhang T (2013) Stock price synchronicity, crash risk, and institutional investors. J. Corporate Finance 21:1–15.CrossrefGoogle Scholar
  • Baik B , Kang JK , Kim JM (2010) Local institutional investors, information asymmetries, and equity returns. J. Financial Econom. 97(1):81–106.CrossrefGoogle Scholar
  • Balakrishnan R , Sprinkle GB , Williamson MG (2011) Contracting benefits of corporate giving: An experimental investigation. Account. Rev. 86(6):1887–1907.CrossrefGoogle Scholar
  • Barnett ML , Salomon RM (2006) Beyond dichotomy: The curvilinear relationship between social responsibility and financial performance. Strategic Management J. 27(11):1101–1122.CrossrefGoogle Scholar
  • Beets SD , Beets MG (2019) An absence of transparency: The charitable and political contributions of us corporations. J. Bus. Ethics 155(4):1101–1113.CrossrefGoogle Scholar
  • Belsley DA , Kuh E , Welsch RE (1980) Regression Diagnostics: Identifying Influential Data and Sources of Collinearity (Wiley, New York).CrossrefGoogle Scholar
  • Berman SL , Wicks AC , Kotha S , Jones TM (1999) Does stakeholder orientation matter? The relationship between stakeholder management models and firm financial performance. Acad. Management J. 42(5):488–506.CrossrefGoogle Scholar
  • Bhattacharya C , Sen S (2003) Consumer-company identification: A framework for understanding consumers’ relationships with companies. J. Marketing 67(2):76–88.CrossrefGoogle Scholar
  • Bolino M , Long D , Turnley W (2016) Impression management in organizations: Critical questions, answers, and areas for future research. Annu. Rev. Organ. Psych. Organ. Behav. 3(2):377–406.CrossrefGoogle Scholar
  • Bolino MC , Kacmar KM , Turnley WH , Gilstrap JB (2008) A multi-level review of impression management motives and behaviors. J. Management 34(6):1080–1109.CrossrefGoogle Scholar
  • Brammer S , Millington A (2008) Does it pay to be different? An analysis of the relationship between corporate social and financial performance. Strategic Management J. 29(12):1325–1343.CrossrefGoogle Scholar
  • Brown W , Helland E , Smith JK (2006) Corporate philanthropic practices. J. Corporate Finance 12(5):855–877.CrossrefGoogle Scholar
  • Brunsson N (2002) The Organization of Hypocrisy: Talk, Decisions, and Actions in Organizations , 2nd ed. (Wiley, Chichester, UK).Google Scholar
  • Bushee BJ (2001) Do institutional investors prefer near-term earnings over long-run value? Contemporary Accounting Res. 18(2):207–246.CrossrefGoogle Scholar
  • Cable DM , Judge TA (1996) Person–organization fit, job choice decisions, and organizational entry. Organ. Behav. Human Decision Processes 67(3):294–311.CrossrefGoogle Scholar
  • Carlos WC , Lewis BW (2018) Strategic silence: Withholding certification status as a hypocritical avoidance tactic. Admin. Sci. Quart. 63(1):130–169.CrossrefGoogle Scholar
  • Carroll AB (1979) A three-dimensional conceptual model of corporate performance. Acad. Management Rev. 4(4):497–505.CrossrefGoogle Scholar
  • Carroll AB (1983) Corporate social responsibility: Will industry respond to cutbacks in social program funding? Vital Speeches Day 49:604–608.Google Scholar
  • Carroll AB (1991) The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders. Bus. Horizons 34(4):39–48.CrossrefGoogle Scholar
  • Carroll AB (2016) Carroll’s pyramid of CSR: Taking another look. Internat. J. Corporate Social Responsibility 1(1):1–8.CrossrefGoogle Scholar
  • Chen HL , Huang YS (2006) Employee stock ownership and corporate R&D expenditures: Evidence from Taiwan’s information-technology industry. Asia Pacific J. Management 23(3):369–384.CrossrefGoogle Scholar
  • China’s National Bureau of Statistics (2018) High-tech industry (manufacturing) classification (2017) (in Chinese). Accessed October 22, 2020, http://www.stats.gov.cn/tjsj/tjbz/201812/t20181218_1640081.html.Google Scholar
  • Chinese Security Regulation Committee (CSRC) (2013) Regulatory guidelines for listed companies no. 3: Cash dividends (in Chinese). Accessed October 22, 2020, http://www.csrc.gov.cn/pub/newsite/zjhxwfb/xwdd/201311/t20131130_239076.html.Google Scholar
  • Chrisman JJ , Patel PC (2012) Variations in R&D investments of family and nonfamily firms: Behavioral agency and myopic loss aversion perspectives. Acad. Management J. 55(4):976–997.CrossrefGoogle Scholar
  • Coff RW (1999) When competitive advantage doesn’t lead to performance: The resource–based view and stakeholder bargaining power. Organ. Sci. 10(2):119–133.LinkGoogle Scholar
  • Cohen-Charash Y , Spector PE (2001) The role of justice in organizations: A meta–analysis. Organ. Behav. Human Decision Processes 86(2):278–321.CrossrefGoogle Scholar
  • Cole MS , Bernerth JB , Walter F , Holt DT (2010) Organizational justice and individuals’ withdrawal: Unlocking the influence of emotional exhaustion. J. Management Stud. 47(3):367–390.CrossrefGoogle Scholar
  • Collins M (1994) Global corporate philanthropy and relationship marketing. Eur. Management J. 12(2):226–233.CrossrefGoogle Scholar
  • Colquitt JA , Zipay KP (2015) Justice, fairness, and employee reactions. Annu. Rev. Organ. Psych. Organ. Behav. 2(1):75–99.CrossrefGoogle Scholar
  • Currall SC , Towler AJ , Judge TA , Kohn L (2005) Pay satisfaction and organizational outcomes. Personality Psych. 58(3):613–640.CrossrefGoogle Scholar
  • Cuypers IR , Koh PS , Wang H (2015) Sincerity in corporate philanthropy, stakeholder perceptions and firm value. Organ. Sci. 27(1):173–188.LinkGoogle Scholar
  • David P , Hitt MA , Gimeno J (2001) The influence of activism by institutional investors on R&D. Acad. Management J. 44(1):144–157.CrossrefGoogle Scholar
  • Davis GF , Thompson TA (1994) A social movement perspective on corporate control. Admin. Sci. Quart. 39:141.CrossrefGoogle Scholar
  • Delmas MA , Grant LE (2014) Eco–labeling strategies and price–premium: The wine industry puzzle. Bus. Society 53(1):6–44.CrossrefGoogle Scholar
  • Diehl MR , Richter A , Sarnecki A (2018) Variations in employee performance in response to organizational justice: The sensitizing effect of socioeconomic conditions. J. Management 44(6):2375–2404.CrossrefGoogle Scholar
  • Donaldson T , Preston LE (1995) The stakeholder theory of the corporation: Concepts, evidence, and implications. Acad. Management Rev. 20(1):65–91.CrossrefGoogle Scholar
  • Du X (2013) Does religion matter to owner–manager agency costs? Evidence from China. J. Bus. Ethics 118(2):319–347.CrossrefGoogle Scholar
  • Du X (2015) Is corporate philanthropy used as environmental misconduct dressing? Evidence from Chinese family-owned firms. J. Bus. Ethics 129(2):341–361.CrossrefGoogle Scholar
  • Du X , Jian W , Du Y , Feng W , Zeng Q (2014) Religion, the nature of ultimate owner, and corporate philanthropic giving: Evidence from China. J. Bus. Ethics 123(2):235–256.CrossrefGoogle Scholar
  • Edmans A (2011) Does the stock market fully value intangibles? Employee satisfaction and equity prices. J. Financial Econom. 101(3):621–640.CrossrefGoogle Scholar
  • Festinger L (1954) A theory of social comparison processes. Human Relations 7(2):117–140.CrossrefGoogle Scholar
  • Festinger L (1957) A Theory of Cognitive Dissonance (Stanford University Press, Stanford, CA).CrossrefGoogle Scholar
  • Flammer C (2018) Competing for government procurement contracts: The role of corporate social responsibility. Strategic Management J. 39(5):1299–1324.CrossrefGoogle Scholar
  • Freeman RE (1984) Strategic Management: A Stakeholder Approach (Pitman, Boston).Google Scholar
  • Friedman M (1970) The social responsibility of business is to increase its profits. New York Times (September 13), https://www.nytimes.com/1970/09/13/archives/a-friedman-doctrine-the-social-responsibility-of-business-is-to.html.Google Scholar
  • Fry LW , Keim GD , Meiners RE (1982) Corporate contributions: Altruistic or for-profit? Acad. Management J. 25(1):94–106.CrossrefGoogle Scholar
  • Galaskiewicz J (1997) An urban grants economy revisited: Corporate charitable contributions in the Twin Cities, 1979–81, 1987–89. Admin. Sci. Quart. 42:445–471.CrossrefGoogle Scholar
  • Gao F , Faff R , Navissi F (2012) Corporate philanthropy: Insights from the 2008 Wenchuan earthquake in China. Pacific Basin Finance J. 20(3):363–377.CrossrefGoogle Scholar
  • Gao Y , Yang H (2016) Do employees support corporate philanthropy? Evidence from Chinese listed companies. Management Organ. Rev. 12(4):747–768.CrossrefGoogle Scholar
  • Godfrey PC (2005) The relationship between corporate philanthropy and shareholder wealth: A risk management perspective. Acad. Management Rev. 30(4):777–798.CrossrefGoogle Scholar
  • Godfrey PC , Merrill CB , Hansen JM (2009) The relationship between corporate social responsibility and shareholder value: An empirical test of the risk management hypothesis. Strategic Management J. 30(4):425–445.CrossrefGoogle Scholar
  • Goldstein MA , Goyal A , Lucey BM , Muckley CB (2015) The global preference for dividends in declining markets. Financial Rev. 50(4):575–609.CrossrefGoogle Scholar
  • Gompers PA , Metrick A (2001) Institutional investors and equity prices. Quart. J. Econom. 116(1):229–259.CrossrefGoogle Scholar
  • Goodman PS (1974) An examination of referents used in evaluations of pay. Organ. Behav. Human Performance 12(2):170–195.CrossrefGoogle Scholar
  • Graham JR , Kumar A (2006) Do dividend clienteles exist? Evidence on dividend preferences of retail investors. J. Finance 61(3):1305–1336.CrossrefGoogle Scholar
  • Graves SB , Waddock SA (1994) Institutional owners and corporate social performance. Acad. Management J. 37(4):1034–1046.CrossrefGoogle Scholar
  • Greenberg J (2010) Organizational injustice as an occupational health risk. Acad. Management Ann. 4(1):205–243.CrossrefGoogle Scholar
  • Grinstein Y , Michaely R (2005) Institutional holdings and payout policy. J. Finance 60(3):1389–1426.CrossrefGoogle Scholar
  • Haley UCV (1991) Corporate contributions as managerial masques: Reframing corporate contributions as strategies to influence society. J. Management Stud. 28(5):485–509.CrossrefGoogle Scholar
  • Hall H (2010) A “silent giving” phenomenon? Accessed October 22, 2020, https://www.philanthropy.com/article/a-silent-giving-phenomenon/.Google Scholar
  • Hansen GS , Hill CW (1991) Are institutional investors myopic? A time-series study of four technology-driven industries. Strategic Management J. 12(1):1–16.CrossrefGoogle Scholar
  • Harris J , Bromiley P (2007) Incentives to cheat: The influence of executive compensation and firm performance on financial misrepresentation. Organ. Sci. 18(3):350–367.LinkGoogle Scholar
  • Hartzell JC , Starks LT (2003) Institutional investors and executive compensation. J. Finance 58(6):2351–2374.CrossrefGoogle Scholar
  • Hawn O , Ioannou I (2016) Mind the gap: The interplay between external and internal actions in the case of corporate social responsibility. Strategic Management J. 37(13):2569–2588.CrossrefGoogle Scholar
  • Heckman JJ (1979) Sample selection bias as a specification error. Econometrica 47:153–162.CrossrefGoogle Scholar
  • Hollander S , Pronk M , Roelofsen E (2010) Does silence speak? An empirical analysis of disclosure choices during conference calls. J. Accounting Res. 48(3):531–563.CrossrefGoogle Scholar
  • Hubbard TD , Christensen DM , Graffin SD (2017) Higher highs and lower lows: The role of corporate social responsibility in CEO dismissal. Strategic Management J. 38(11):2255–2265.CrossrefGoogle Scholar
  • Jawahar IM (2002) A model of organizational justice and workplace aggression. J. Management 28(6):811–834.Google Scholar
  • Jensen MC , Meckling WH (1976) Theory of the firm: Managerial behavior, agency costs and ownership structure. J. Financial Econom. 3(4):305–360.CrossrefGoogle Scholar
  • Jia M , Zhang Z (2014) Donating money to get money: The role of corporate philanthropy in stakeholder reactions to IPOs. J. Management Stud. 51(7):1118–1152.CrossrefGoogle Scholar
  • Jia M , Zhang Z (2018) The role of corporate donations in Chinese political markets. J. Bus. Ethics 153(2):519–545.CrossrefGoogle Scholar
  • Jia M , Tong L , Viswanath PV , Zhang Z (2016) Word power: The impact of negative media coverage on disciplining corporate pollution. J. Bus. Ethics 138(3):437–458.CrossrefGoogle Scholar
  • Jiang X , Yuan Q (2018) Institutional investors’ corporate site visits and corporate innovation. J. Corporate Finance 48(3):148–168.CrossrefGoogle Scholar
  • Johnson RA , Greening DW (1999) The effects of corporate governance and institutional ownership types on corporate social performance. Acad. Management J. 42(5):564–576.CrossrefGoogle Scholar
  • Jones TM (1995) Instrumental stakeholder theory: A synthesis of ethics and economics. Acad. Management Rev. 20(2):404–437.CrossrefGoogle Scholar
  • Judge TA , Bretz RD (1992) Effects of work values on job choice decisions. J. Appl. Psych. 77(3):261–271.CrossrefGoogle Scholar
  • Kim H , Kim H , Lee PM (2008) Ownership structure and the relationship between financial slack and R&D investments: Evidence from Korean firms. Organ. Sci. 19(3):404–418.LinkGoogle Scholar
  • King BG , Whetten DA (2008) Rethinking the relationship between reputation and legitimacy: A social actor conceptualization. Corporate Reputation Rev. 11(3):192–207.CrossrefGoogle Scholar
  • Kochhar R , David P (1996) Institutional investors and firm innovation: A test of competing hypotheses. Strategic Management J. 17(1):73–84.CrossrefGoogle Scholar
  • Koh PS , Reeb DM , Zhao W (2017) CEO confidence and unreported R&D. Management Sci. 64(12):5725–5747.LinkGoogle Scholar
  • Kristof AL (1996) Person–organization fit: An integrative review of its conceptualizations, measurement, and implications. Personality Psych. 49(1):1–49.CrossrefGoogle Scholar
  • Larson A (2015) Socially responsible investing. Cooper C, ed. Wiley Encyclopedia of Management, vol. 2 (Wiley, New York), 1–3.Google Scholar
  • Le PD , Teo HX , Pang A , Li YL , Goh CQ (2019) When silence is golden: The use of strategic silence in crisis management. Corporate Comm. 24(1):162–178.CrossrefGoogle Scholar
  • Lev B , Petrovits C , Radhakrishnan S (2010) Is doing good good for you? How corporate charitable contributions enhance revenue growth. Strategic Management J. 31(2):182–200.CrossrefGoogle Scholar
  • Lewellen J (2011) Institutional investors and the limits of arbitrage. J. Financial Econom. 102(1):62–80.CrossrefGoogle Scholar
  • Liao L , Liu B , Wang H (2014) China׳ s secondary privatization: Perspectives from the split-share structure reform. J. Financial Econom. 113(3):500–518.CrossrefGoogle Scholar
  • Luo X , Wang D , Zhang J (2017) Whose call to answer: Institutional complexity and firms’ CSR reporting. Acad. Management J. 60(1):321–344.CrossrefGoogle Scholar
  • Luo X , Wang H , Raithel S , Zheng Q (2015) Corporate social performance, analyst stock recommendations, and firm future returns. Strategic Management J. 36(1):123–136.CrossrefGoogle Scholar
  • Madsen PM , Rodgers ZJ (2015) Looking good by doing good: The antecedents and consequences of stakeholder attention to corporate disaster relief. Strategic Management J. 36(5):776–794.CrossrefGoogle Scholar
  • March JG , Simon HA (1958/1993) Organizations , 2nd ed. (Blackwell, Cambridge, MA).Google Scholar
  • Marquis C , Qian C (2014) Corporate social responsibility reporting in china: Symbol or substance? Organ. Sci. 25(1):127–148.LinkGoogle Scholar
  • Marquis C , Tilcsik A (2016) Institutional equivalence: How industry and community peers influence corporate philanthropy. Organ. Sci. 27(5):1325–1341.LinkGoogle Scholar
  • Masulis RW , Reza SW (2015) Agency problems of corporate philanthropy. Rev. Financial Stud. 28(2):592–636.CrossrefGoogle Scholar
  • Mcguinness PB , Vieito JP , Wang M (2017) The role of board gender and foreign ownership in the CSR performance of Chinese listed firms. J. Corporate Finance 42:75–99.CrossrefGoogle Scholar
  • McWilliams A , Siegel DS , Wright PM (2006) Corporate social responsibility: Strategic implications. J. Management Stud. 43(1):1–18.CrossrefGoogle Scholar
  • Mishra DR (2017) Post-innovation CSR performance and firm value. J. Bus. Ethics 140(2):285–306.CrossrefGoogle Scholar
  • Mitchell RK , Agle BR , Wood DJ (1997) Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Acad. Management Rev. 22(4):853–886.CrossrefGoogle Scholar
  • Mobley WH (1977) Intermediate linkages in the relationship between job satisfaction and employee turnover. J. Appl. Psych. 62(2):237–240.CrossrefGoogle Scholar
  • Oh WY , Barker VL (2018) Not all ties are equal: CEO outside directorships and strategic imitation in R&D investment. J. Management 44(4):1312–1337.CrossrefGoogle Scholar
  • O’Reilly III CA , Chatman J , Caldwell DF (1991) People and organizational culture: A profile comparison approach to assessing person–organization fit. Acad. Management J. 34(3):487–516.CrossrefGoogle Scholar
  • Orlitzky M , Schmidt FL , Rynes SL (2003) Corporate social and financial performance: A meta-analysis. Organ. Stud. 24(3):403–441.CrossrefGoogle Scholar
  • Palazzo G , Scherer AG (2006) Corporate legitimacy as deliberation: A communicative framework. J. Bus. Ethics 66(1):71–88.CrossrefGoogle Scholar
  • Parsa S , Tang G , Dia N (2016) How do Chinese business view corporate social responsibility? Accessed August 23, https://www.icaew.com/-/media/corporate/files/technical/research-and-academics/tecpln14774-charities-chinese-web.ashx.Google Scholar
  • Petersen MA (2009) Estimating standard errors in finance panel data sets: Comparing approaches. Rev. Financial Stud. 22(1):435–480.CrossrefGoogle Scholar
  • Petrenko OV , Aime F , Ridge J , Hill A (2016) Corporate social responsibility or CEO narcissism? CSR motivations and organizational performance. Strategic Management J. 37(2):262–279.CrossrefGoogle Scholar
  • Rozeff MS (1982) Growth, beta and agency costs as determinants of dividend payout ratios. J. Financial Res. 5(3):249–259.CrossrefGoogle Scholar
  • Rupp DE , Mallory DB (2015) Corporate social responsibility: Psychogical, person-centric, and progressing. Annu. Rev. Organ. Psych. Organ. Behav. 2(1):211–236.CrossrefGoogle Scholar
  • Rupp DE , Ganapathi J , Aguilera RV , Williams CA (2006) Employee reactions to corporate social responsibility: An organizational justice framework. J. Organ. Behav. 27(4):537–543.CrossrefGoogle Scholar
  • Ryan TY (1997) Modern Regression Analysis (Wiley, New York).Google Scholar
  • Scherer AG , Palazzo G , Seidl D (2013) Managing legitimacy in complex and heterogeneous environments: Sustainable development in a globalized world. J. Management Stud. 50(2):259–284.CrossrefGoogle Scholar
  • Schmidt C , Fahlenbrach R (2017) Do exogenous changes in passive institutional ownership affect corporate governance and firm value? J. Financial Econom. 124(2):285–306.CrossrefGoogle Scholar
  • Schuler DA , Cording M (2006) A corporate social performance–corporate financial performance behavioral model for consumers. Acad. Management Rev. 31(3):540–558.CrossrefGoogle Scholar
  • Scott WR (1995) Institutions and Organizations (Sage, Thousand Oaks, CA).Google Scholar
  • Shanghai Stock Exchange (2018) Shanghai stock exchange statistics annual. Accessed October 22, 2020, http://www.sse.com.cn/aboutus/publication/yearly/.Google Scholar
  • Shaw JD , Gupta N , Delery JE (2005) Alternative conceptualizations of the relationship between voluntary turnover and organizational performance. Acad. Management J. 48(1):50–68.CrossrefGoogle Scholar
  • Shefrin HM , Statman M (1984) Explaining investor preference for cash dividends. J. Financial Econom. 13(2):253–282.CrossrefGoogle Scholar
  • Shiu YM , Yang SL (2017) Does engagement in corporate social responsibility provide strategic insurance-like effects? Strategic Management J. 38(2):455–470.CrossrefGoogle Scholar
  • Shore TH , Tashchian A , Jourdan L (2006) Effects of internal and external pay comparisons on work attitudes. J. Appl. Sociol. Psych. 36(10):2578–2598.CrossrefGoogle Scholar
  • Su W , Sauerwald S (2018) Does corporate philanthropy increase firm value? The moderating role of corporate governance. Bus. Society 57(4):599–635.CrossrefGoogle Scholar
  • Suchman MC (1995) Managing legitimacy: Strategic and institutional approaches. Acad. Management Rev. 20(3):571–610.CrossrefGoogle Scholar
  • Swider BW , Zimmerman RD , Barrick MR (2015) Searching for the right fit: Development of applicant person–organization fit perceptions during the recruitment process. J. Appl. Psych. 100(3):880–893.CrossrefGoogle Scholar
  • Testa F , Miroshnychenko I , Barontini R , Frey M (2018) Does it pay to be a greenwasher or a brownwasher? Bus. Strategy Environment 27(7):1104–1116.CrossrefGoogle Scholar
  • Tonin M , Vlassopoulos M (2015) Corporate philanthropy and productivity: Evidence from an online real effort experiment. Management Sci. 61(8):1795–1811.LinkGoogle Scholar
  • Tornikoski ET , Newbert SL (2007) Exploring the determinants of organizational emergence: A legitimacy perspective. J. Bus. Venturing 22(2):311–335.CrossrefGoogle Scholar
  • Uggerslev KL , Fassina NE , Kraichy D (2012) Recruiting through the stages: A meta-analytic test of predictors of applicant attraction at different stages of the recruiting process. Personnel Psych. 65(3):597–660.CrossrefGoogle Scholar
  • Vergne J , Wernicke G , Brenner S (2018) Signal incongruence and its consequences: A study of media disapproval and CEO overcompensation. Organ. Sci. 29(5):796–815.Google Scholar
  • Wang H , Qian C (2011) Corporate philanthropy and corporate financial performance: The roles of stakeholder response and political access. Acad. Management J. 54(6):1159–1181.CrossrefGoogle Scholar
  • Wang H , Choi J , Li J (2008) Too little or too much? Untangling the relationship between corporate philanthropy and firm financial performance. Organ. Sci. 19(1):143–159.LinkGoogle Scholar
  • Wang H , Tong L , Takeuchi R , George G (2016) Corporate social responsibility: An overview and new research directions. Acad. Management J. 59(2):534–544.CrossrefGoogle Scholar
  • Wang T , Bansal P (2012) Social responsibility in new ventures: Profiting from a long‐term orientation. Strategic Management J. 33(10):1135–1153.CrossrefGoogle Scholar
  • Welbourne TM , Andrews AO (1996) Predicting the performance of initial public offerings: Should human resource management be in the equation? Acad. Management J. 39(4):891–919.CrossrefGoogle Scholar
  • Whelan G , Muthuri J (2017) Chinese state-owned enterprises and human rights: The importance of national and intra-organizational pressures. Bus. Society 56(5):738–781.CrossrefGoogle Scholar
  • Wood DJ (1991) Corporate social performance revisited. Acad. Management Rev. 16(4):691–718.CrossrefGoogle Scholar
  • Woon E , Pang A (2017) Explicating the information vacuum: Stages, intensifications, and implications. Corporate Comm. 22(3):329–353.CrossrefGoogle Scholar
  • Xu D , Zhou KZ , Du F (2019) Deviant vs. aspirational risk taking: The effects of performance feedback on bribery expenditure and R&D intensity. Acad. Management J. 62(4):1226–1251.CrossrefGoogle Scholar
  • Yanadori Y , Marler JH (2006) Compensation strategy: Does business strategy influence compensation in high‐technology firms? Strategic Management J. 27(6):559–570.CrossrefGoogle Scholar
  • Yu D , Srinivasan R (2013) Employee engagement increases in China, but still very low. Accessed October 22, 2020, http://www.gallup.com/poll/160190/employee-engagement-increases-china-low.aspx.Google Scholar
  • Zhang J , Marquis C , Qiao K (2016) Do political connections buffer firms from or bind firms to the government? A study of corporate charitable donations of Chinese firms. Organ. Sci. 27(5):1307–1324.LinkGoogle Scholar
  • Zimmerman MA , Zeitz GJ (2002) Beyond survival: Achieving new venture growth by building legitimacy. Acad. Management Rev. 27(3):414–431.CrossrefGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.