Purpose This paper aims to theorize and empirically examine the impact of media attention on corporate social responsibility (CSR) through the lens of legitimacy theory, and to uncover the boundary conditions (celebrity CEOs and market value) that shape this relationship in emerging economies. Design/methodology/approach Using a panel of Chinese nonfinancial firms (2010–2020), this paper used ordinary least squares regression and robustness checks including alternative media attention measurements, media divergence analysis and Heckman two-stage regression. Findings Media attention significantly increases CSR engagement, consistent with its role in amplifying legitimacy pressures. Notably, this effect is contingent. It is strengthened for firms with celebrity CEOs but attenuated for those with high market value. These findings hold across multiple robustness checks. Practical implications The findings offer insights for policymakers, managers and investors. Policymakers may harness media oversight to incentivize CSR, while firms with celebrity CEOs or low market value should prioritize CSR to mitigate legitimacy risks. Investors should look beyond superficial CSR claims to discern strategic motives. Originality/value This study advances institutional theory by framing CSR as a strategic legitimacy response to media-driven visibility. It further contributes by identifying how internal agency (celebrity CEOs) and external contingencies (market value) distinctly moderate the media–CSR link, offering a nuanced framework for understanding the interplay between media visibility and corporate legitimacy.
Cao et al. (Wed,) studied this question.