ISSN: 2222-6990
Open access
Nowadays, firms are facing serious financing constraints and one of the mostly used method to alleviate this situation is to rebuild firms’ reputations through increasing firms’ corporate social responsibilities (CSR) performance. But the mechanisms between CSR and financial constraints are still not clearly and comprehensively demonstrated. Thus, based on above motivations, this literature is aimed at systematically reviewing the analysis of existing researches on the relationship between CSR and financing constraints by using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA). Keywords and Boolean operator are used to search articles in Scopus database related to this topic and the last search was done in Nov. 2023. Later, several inclusion and exclusion criteria are used to successfully identify 57 most relevant studies. This research then summaries these 57 articles, conducts bibliometric analysis and relationship analysis on them. Results indicate that there are facilitating, inhabitation and moderating effects between CSR and financial constraints. This study has some limitations such as it only searches relevant articles in Scopus, it includes articles not ranking in Journal Citation Report, it does not pose time constraints when selecting papers, it exists risk of author bias because it adopts qualitative method, and it has risks that not all of the relevant studies are included in this study. However, this study makes new contributions to existing study, providing academic contributions/implications on the thoroughly understandings of relationship and importance between CSR and financial constraints, and also providing practical contributions/implications for parties inside and outside the firms to understand how to appropriately use CSR to help alleviate financing constraints. Last but not least, several aspects that worth future research are also mentioned in the discussion part.
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