Zodiac Year Fate Eased by CSR: Fact or Fiction?

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dc.citation.volume101
dc.contributor.authorHu Y
dc.contributor.authorFang J
dc.contributor.authorBhuiyan MBU
dc.date.accessioned2025-05-28T02:59:16Z
dc.date.available2025-05-28T02:59:16Z
dc.date.issued2025-07
dc.description.abstractThis study examines the relationship between the Chinese zodiac year of chairpersons and corporate social responsibility (CSR) performance. Drawing on upper echelons and stakeholder theories, we argue that zodiac beliefs may lead chairpersons to prioritise CSR activities during their zodiac year to counteract potential bad luck and mitigate corporate risk. Using 24,418 observations from Chinese listed firms over the period 2010–2020, our empirical analysis reveals a significant and positive effect of chairpersons' zodiac year on CSR performance. We observe that the effect is transient, appearing before and during the zodiac year but diminishing thereafter. Further, our findings show that the zodiac year effect is more pronounced in state-owned enterprises, firms with higher levels of public, environmental and CSR concerns and those with favourable environmental track records. This study extends the application of upper echelons and stakeholder theories by incorporating chairpersons’ zodiac year effect.
dc.description.confidentialfalse
dc.edition.editionJuly 2025
dc.identifier.citationHu Y, Fang J, Bhuiyan MBU. (2025). Zodiac Year Fate Eased by CSR: Fact or Fiction?. International Review of Economics and Finance. 101.
dc.identifier.doi10.1016/j.iref.2025.104139
dc.identifier.eissn1873-8036
dc.identifier.elements-typejournal-article
dc.identifier.issn1059-0560
dc.identifier.number104139
dc.identifier.piiS1059056025003028
dc.identifier.urihttps://mro.massey.ac.nz/handle/10179/72970
dc.languageEnglish
dc.publisherElsevier Inc
dc.publisher.urihttps://www.sciencedirect.com/science/article/pii/S1059056025003028
dc.relation.isPartOfInternational Review of Economics and Finance
dc.rights(c) 2025 The Author/s
dc.rightsCC BY 4.0
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subjectZodiac
dc.subjectCorporate social responsibility
dc.subjectSuperstition
dc.subjectChairperson
dc.subjectGovernment
dc.subjectPublic concern
dc.titleZodiac Year Fate Eased by CSR: Fact or Fiction?
dc.typeJournal article
pubs.elements-id500608
pubs.organisational-groupOther
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