This　research　examines　the　role　of　blockholders　in　shaping　corporate　social　responsibility　(CSR)　practices　within　A-share　listed　companies　in　China　over　the　period　of　2006–2019.　Our　analysis　reveals　that　non-financial　blockholders　significantly　promote　CSR　initiatives,　while　the　influence　of　financial　blockholders　appears　negligible.　The　study　also　uncovers　the　pivotal　role　of　stock　liquidity　as　a　moderator　in　the　dynamic　between　blockholders　and　CSR,　suggesting　that　the　exit　threat　is　provital　mechanism　through　which　non-financial　blockholders　exert　their　influence　on　CSR　activities.　These　findings　are　robust,　having　addressed　potential　endogeneity　issues　through　a　series　of　rigorous　methodologies　including　the　examination　of　exogenous　shocks,　the　application　of　the　Propensity　Score　Matching-Difference　in　Differences　(PSM-DID)　model,　deployment　of　multi-dimensional　fixed　effects　models,　and　Change　Regression　analysis.　©　2025　The　Authors