C.E. Bai, L.C. Xu Incentives for CEOs with multitasks: evidence from Chinese state-owned enterprises J. Comp. Econ., 33 (3) (2005), pp. 517–539 D.P. Baron Integrated strategy: market and nonmarket components Calif. Manag. Rev., 37 (2) (1995), pp. 47–65 A. Belkaoui, P.G. Karpik Determinants of the corporate decision to disclose social information Account. Audit. Account. J., 2 (1) (1989), pp. 36–51 M. Carney, D. Shapiro, Y. ang Business group performance in China: ownership and temporal considerations Manag. Organ. Rev., 5 (2) (2009), pp. 167–193 J.C. Chen, R.W. Roberts Toward a more coherent understanding of the organization–society relationship: a theoretical consideration for social and environmental accounting research J. Bus. Ethics, 97 (4) (2010), pp. 651–665 ChinaCSR.com How far can Chinese companies take corporate social responsibility? Retrieved December 10, 2016, from http://www.chinacsr.com/en/2009/02/23/4572-how-far-can-chinese-companies-take-corporate-social-responsibility/ (2009) (February 23, 2009) C.H. Cho, M. Laine, R.W. Roberts, M. Rodrigue Organized hypocrisy, organizational façades, and sustainability reporting Acc. Organ. Soc., 40 (2015), pp. 78–94 S. Claessens, J.P. Fan, L.H. Lang The benefits and costs of group affiliation: evidence from East Asia Emerg. Mark. Rev., 7 (1) (2006), pp. 1–26 A. Di Giuli, L. Kostovetsky Are red or blue companies more likely to go green? Politics and corporate social responsibility J. Financ. Econ., 111 (1) (2014), pp. 158–180 J.L. Dong, J. Hu Mergers and acquisitions in China Econ. Rev. Fed. Reserv. Bank Atl., 80 (6) (1995), pp. 15–29 H. Dou, H. Zhang, Z. Lu Business groups, monitoring by large shareholders, and overinvestment Manag. World, 7 (2014), pp. 134–143 J.P.H. Fan, L. Jin, G. Zheng Revisiting the bright and dark sides of capital flows in business groups J. Bus. Ethics, 134 (4) (2016), pp. 509–528 A. Goto Business groups in a market economy Eur. Econ. Rev., 19 (1) (1982), pp. 53–70 M. Granovetter Coase revisited: business groups in the modern economy Ind. Corp. Chang., 4 (1995), pp. 93–130 P. Guest, D. Sutherland The impact of business group affiliation on performance: evidence from China's ‘national champions’ Camb. J. Econ., 34 (4) (2010), pp. 617–631 Y. He, Z. Tian Government-oriented corporate public relation strategies in transitional China Manag. Organ. Rev., 4 (3) (2008), pp. 367–391 J. He, X. Mao, O.M. Rui, X. Zha Business groups in China J. Corp. Finan., 22 (2013), pp. 166–192 P.S. Hofman, J. Moon, B. Wu Corporate social responsibility under authoritarian capitalism: dynamics and prospects of state-led and society-driven CSR Bus. Soc., 56 (5) (2017), pp. 651–671 T. Hoshi, A. Kashyap, D. Scharfstein Corporate structure, liquidity, and investment: evidence from Japanese industrial groups Q. J. Econ., 106 (1) (1991), pp. 33–60 J. Huang, Z. Rong Housing boom, real estate diversification, and capital structure: evidence from China Emerg. Mark. Rev., 32 (2017), pp. 74–95 J. Jones Earnings management during import relief investigation J. Account. Res., 29 (2) (1991), pp. 193–228 L. Keister Engineering growth: business group structure and firm performance in China's transition economy Am. J. Sociol., 104 (2) (1998), pp. 404–440 L. Keister Chinese Business Groups: The Structure and Impact of Interfirm Relations During Economic Development Oxford University Press, Hong Kong (2000) L. Keister Interfirm relations in China: group structure and firm performance in business groups Am. Behav. Sci., 52 (12) (2009), pp. 1709–1730 T. Khanna Business groups and social welfare in emerging markets: existing evidence and unanswered questions Eur. Econ. Rev., 44 (4) (2000), pp. 748–761 T. Khanna, Y. Yafeh Business groups in emerging markets: paragons or parasites? J. Econ. Lit., 45 (2) (2007), pp. 331–372 KPMG KPMG International Survey of Corporate Responsibility Reporting 2005 KPMG International, Amsterdam, Netherlands (2005) KPMG KPMG International Survey of Corporate Responsibility Reporting 2011 KPMG International, Amsterdam, Netherlands (2011) C. Lau, Y. Lu, Q. Liang Corporate social responsibility in China: a corporate governance approach J. Bus. Ethics, 136 (1) (2016), pp. 73–87 H. Li, Y. Zhang The role of managers' political networking and functional experience in new venture performance: evidence from China's transition economy Strateg. Manag. J., 28 (8) (2007), pp. 791–804 W. Li, R. Zhang Corporate social responsibility, ownership structure, and political interference: evidence from China J. Bus. Ethics, 96 (4) (2010), pp. 631–645 L. Liao, T.P. Lin, Y. Zhang Corporate board and corporate social responsibility assurance: evidence from China J. Bus. Ethics (2016) (forthcoming) Y. Luo Industrial dynamics and managerial networking in an emerging market: the case of China Strateg. Manag. J., 24 (13) (2003), pp. 1315–1327 X. Ma, J. Lu The critical role of business groups in China Ivey Bus. J., 69 (5) (2005), pp. 1–12 C. Marquis, C. Qian Corporate social responsibility reporting in China: symbol or substance? Organ. Sci., 25 (1) (2014), pp. 127–148 C. Marquis, J. Zhang, Y. Zhou Regulatory uncertainty and corporate responses to environmental protection in China Calif. Manag. Rev., 54 (1) (2011), pp. 39–63 D. Matten, J. Moon ‘Implicit’ and ‘explicit’ CSR: a conceptual framework for a comparative understanding of corporate social responsibility Acad. Manag. Rev., 33 (2) (2008), pp. 404–424 Z. Mi, X. Wang Agency cost and the crisis of China's SOE China Econ. Rev., 11 (3) (2000), pp. 297–317 D.V. Moser, P.R. Martin A broader perspective on corporate social responsibility research in accounting Account. Rev., 87 (3) (2012), pp. 797–806 National Bureau of Statistics of China (NBSC) 2008 Yearbook of China's Large Business Groups (2008 Nian Zhongguo Da Qiye Jituan) Statistics Publishing House of China (Zhongguo Tongji Chubanshe), Beijing, China (2009) P. Nolan, X. Wang Beyond privatization: institutional innovation and growth in China's large state-owned enterprises World Dev., 27 (1) (1999), pp. 169–200 M.W. Peng, P.S. Heath The growth of the firm in planned economies in transition: institutions, organizations, and strategic choice Acad. Manag. Rev., 21 (2) (1996), pp. 492–528 S.D. Prowse The structure of corporate ownership in Japan J. Financ., 47 (3) (1992), pp. 1121–1140 C. Reverte Determinants of corporate social responsibility disclosure ratings by Spanish listed firms J. Bus. Ethics, 88 (2) (2009), pp. 351–366 T.P. Ryan Modern Regression Methods John Wiley & Sons, New York, NY (1997) D.A. Schuler, K. Rehbein The filtering role of the firm in corporate political involvement Bus. Soc., 36 (2) (1997), pp. 116–139 G. See Harmonious society and Chinese CSR: is there really a link? J. Bus. Ethics, 89 (1) (2009), pp. 1–22 K.M. Shabana, A.K. Buchholtz, A.B. Carroll The institutionalization of corporate social responsibility reporting Bus. Soc., 56 (8) (2017), pp. 1107–1135 H.H. Shin, Y.S. Park Financing constraints and internal capital markets: evidence from Korean “chaebols” J. Corp. Finan., 5 (2) (1999), pp. 169–191 Sino-Swedish CSR Cooperation Interpreting CSR Policy for Large Chinese SOEs Retrieved December 10, 2016 from http://csr2.mofcom.gov.cn/article/laws/200905/20090506246453.shtml (2009, May 14) M.C. Suchman Managing legitimacy: strategic and institutional approaches Acad. Manag. Rev., 20 (3) (1995), pp. 571–610 D. Sutherland China's Large Enterprises and the Challenge of Late Industrialisation RoutledgeCurzon, the Taylor & Francis Group, New York, NY (2003) J. Wang, B.S. Coffey Board composition and corporate philanthropy J. Bus. Ethics, 11 (1992), pp. 771–778 Q. Xin, G. Zheng, D. Yang Business groups, government control, and investment efficiency Finan. Res., 10 (2007), pp. 123–142 H. Yu, L. Fang, B. Sun, D Du Risk contribution of the Chinese stock market to developed markets in the post-crisis period Emerg. Mark. Rev., 34 (2018), pp. 87–97 J.Q. Zhang, H. Zhu, H. Ding Board composition and corporate social responsibility: an empirical investigation in the post Sarbanes-Oxley era J. Bus. Ethics, 114 (2013), pp. 381–392