Research trends on the impact of Corporate Social Responsibility on the financialisation of Chinese firms: a systematic review

Objective: This review examines the impact of Corporate Social Responsibility (CSR) on the financialization of Chinese firms, a topic that has gained significant scholarly attention in the past five years amid China’s economic transformation.   Method: Through a systematic analysis of 12 studies (2000–2024) from databases such as CNKI, EBSCO, and Web of Science, the findings reveal a predominant focus on A-share listed firms, with most research utilizing post-2010 data.   Results and Discussion: CSR has emerged as a critical factor in shaping corporate financialization, reflecting its growing role in governance and strategic decision-making. However, the literature remains largely empirical, relying heavily on quantitative methods, and often excludes financially distressed firms, limiting generalizability.   Research Implications: The review highlights the need for theoretical development, sectoral diversification, and longitudinal studies to deepen understanding. It also underscores the importance of balancing CSR initiatives with sustainable financial practices, offering valuable insights for policymakers and corporate managers aiming to align financial strategies with long-term economic and social goals.

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