Cross-listing and corporate social responsibility: Evidence from manufacturing companies in Indonesia

Ayu Milla Jannasari, Amalia Rizki

Research output: Contribution to journalArticlepeer-review

2 Citations (Scopus)


This study investigates the effect of cross-listing on corporate social responsibility. This study used a sample of manufacturing companies listed on the Indonesia Stock Exchange from the year 2013 to 2017. Cross-listing literature suggests that cross-listed companies have better CSR performance. However, the other says that the effects of cross-listing on CSR depend on investor protection regimes of listing destinations. Using GRI G3.1 index for corporate social responsibility indicator, the results show that cross-listing has a significant positive effect on corporate social responsibility. It means that cross-listed companies will improve their corporate social responsibility to mitigate the liability of foreignness in the foreign financial market. This study also used firm-level for control variable to robust the result.

Original languageEnglish
Pages (from-to)901-917
Number of pages17
JournalInternational Journal of Innovation, Creativity and Change
Issue number4
Publication statusPublished - 2020


  • Corporate social responsibility
  • Cross-listing
  • Firm level


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