Author(s)

Ziyue Song ¹, Tingyu Yang ¹

Affiliation(s)

¹ Department of Economic Statistics, Henan University, Kaifeng, Henan, 475004, China

Corresponding Author

Ziyue Song

ABSTRACT

Influenced by the increasingly complex and severe situation at home and abroad, frequent policy changes have improved the uncertainty level of economic policy uncertainty, and corporate Social Responsibility has attracted people's high attention. According to the data of Shanghai and Shenzhen in Chinese mainland. This paper explores how uncertainty in economic policy affects corporate social responsibility. The empirical results suggest that higher economic policy uncertainty leads to lower levels of corporate social responsibility. Mechanism analysis reveals that when the uncertainty of economic policy is enhanced, the level of corporate social responsibility can be reduced by reducing the asset-liability ratio of enterprises. In addition, among the enterprises that have issued standard audit opinions, the negative correlation is more significant, and the negative correlation is significantly suppressed when the enterprises are in losses. The conclusion of this paper is of great significance for re-examining the continuity of economic policies and stabilizing market expectations.

KEYWORDS

Economic policy uncertainty, corporate social responsibility, mechanism analysis

CITE THIS PAPER

Ziyue Song, Tingyu Yang, The Impact of Economic Policy Uncertainty on Corporate Social Responsibility. Social Security and Administration Management (2024) Vol. 5: 85-92. DOI: http://dx.doi.org/10.23977/socsam.2024.050112.

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