A STUDY ON THE SOCIAL RESPONSIBILITY OF GRAIN,OIL AND FOOD ENTERPRISES AND THEIR CREDIT ACCESSIBILITY:THE REGULATORY EFFECT BASED ON INSTITUTIONAL INVESTOR SHAREHOLDING
The 20th National Congress of the Communist Party of China emphasized the importance of ensu-ring food security and accelerating the development of an agricultural powerhouse.This study,based on A-share data from Chinese listed companies spanning 2010 to 2022,focuses on listed companies in the grain,oil,and food industry as research samples.It constructs a multiple regression model to investigate the impact of social responsibility information disclosure on the credit accessibility of these enterprises.The research re-veals that fulfilling social responsibility in grain,oil,and food enterprises effectively promotes credit accessi-bility.With the increasing proportion of institutional investor shareholding,the positive relationship between the two is further strengthened.Heterogeneous research indicates that the length of time a company has been listed positively empowers the relationship between social responsibility and credit accessibility.In comparison to other regions,in the eastern region,the longer the listing period of grain,oil,and food enterprises,the more effectively their social responsibility enhances credit accessibility.Moreover,compared to grain and oil enterprises,credit accessibility for food enterprises is more sensitive to social responsibility.The Tobin Q val-ue plays an inhibitory role in the relationship between corporate social responsibility and credit accessibility.In state-owned grain,oil,and food enterprises with higher total assets and lower Tobin Q values,the positive correlation between fulfilling social responsibility and credit accessibility is more pronounced.
grain,oil and food industrycorporate social responsibilityinstitutional investors shareholdingcredit availability
NETL
NSTL
万方数据
