Proceedings of the 2025 3rd International Academic Conference on Management Innovation and Economic Development (MIED 2025)

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Market Reactions to Platform Companies’ Social Responsibility in the Gig Economy: Evidence from JD and Meituan’s Rider Welfare Policies”

Authors
Heyang Li1, *
1International School of Business Finance, Sun Yat-Sen University, Guangzhou, 510275, China
*Corresponding author. Email: lihy378@mail2.sysu.edu.cn
Corresponding Author
Heyang Li
Available Online 17 September 2025.
DOI
10.2991/978-94-6463-835-6_44How to use a DOI?
Keywords
Platform Economy; Corporate Social Responsibility; Event Study; Labor Protection; ESG Investment
Abstract

This study employs event study methodology to analyze capital market reactions to rider welfare policies implemented by JD and Meituan, two major Chinese platform companies. Focusing on the strategic announcements made on February 19, 2025, the research reveals divergent market responses: JD’s pioneering initiative to fully cover social insurance for riders initially triggered negative abnormal returns (-14.36% on event day), followed by an 18.3% recovery, suggesting market recognition of its ESG leadership. Conversely, Meituan’s defensive policy adjustment resulted in sustained negative cumulative abnormal returns (CAR=-6.65%), reflecting investor concerns about cost pressures and passive compliance. The findings highlight the financial implications of CSR in platform economies, demonstrating how proactive social responsibility generates ESG premiums while reactive measures incur market penalties. The study further identifies systemic challenges in China’s gig economy, including the “immediate income vs long-term security” dilemma for riders and the need for tripartite cost-sharing mechanisms. These insights contribute to understanding the evolving relationship between platform governance, labor rights protection, and sustainable business models in digital economies.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2025 3rd International Academic Conference on Management Innovation and Economic Development (MIED 2025)
Series
Advances in Economics, Business and Management Research
Publication Date
17 September 2025
ISBN
978-94-6463-835-6
ISSN
2352-5428
DOI
10.2991/978-94-6463-835-6_44How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Heyang Li
PY  - 2025
DA  - 2025/09/17
TI  - Market Reactions to Platform Companies’ Social Responsibility in the Gig Economy: Evidence from JD and Meituan’s Rider Welfare Policies”
BT  - Proceedings of the 2025 3rd International Academic Conference on Management Innovation and Economic Development (MIED 2025)
PB  - Atlantis Press
SP  - 417
EP  - 427
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-835-6_44
DO  - 10.2991/978-94-6463-835-6_44
ID  - Li2025
ER  -