Resumen de The internal mechanism of corporate social responsibility fulfillment affecting debt risk in China: analysis of intermediary transmission effect based on degree of debt concentration and product market competitive advantage

Chen Hong, Peng Xuefei, Chen Caiyun, Mohammed Alaghbari

• This paper takes the degree of debt concentration and product market competitive advantage as intermediary variables toexplore the internal mechanism of the impact of CSR fulfilment on firm debt risk. It is found that the fulfilment of CSR canreduce the debt risk of firms by dispersing the degree of debt concentration and enhancing the competitive advantage ofproduct market. The mediating effect of the degree of debt concentration has a direct impact on the competitive advantageof a product market and is particularly obvious in private firms and firms in the eastern region of China