CORPORATE GOVERNANCE, CORPORATE ENVIRONMENT, SOCIAL RESPONSIBILITY, AND CORPORATE VALUE: A SEQUENTIAL MEDIATION MODEL VALIDATION BASED ON SHENZHEN ENTERPRISES
DOI:
https://doi.org/10.18623/rvd.v23.5890Palavras-chave:
Corporate Governance, Corporate Environment, Social Responsibility, Corporate ValueResumo
This study aimed to examine the influence of corporate governance and corporate environment on corporate value and explain the sequential mediating mechanism of social responsibility underlying this effect. 585 enterprise senior and middle managers personnel covering different industries and regions in Shenzhen participated in the study. Data was collected through an online survey questionnaire. Participants completed a survey to assess corporate governance, corporate environment, social responsibility, and corporate value. PLS-SEM was used to analyze the data to test the conceptual framework. Results showed corporate governance and corporate environment positively predicted social responsibility and corporate value in enterprises in Shenzhen. Additionally, social responsibility positively affected corporate value. Further analyses confirmed the sequential mediating role of social responsibility. The findings empirically validate corporate governance and corporate environment's role to influence corporate value both directly and indirectly through implementing social responsibility initiatives in enterprises. Practical and theoretical implications are discussed.
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