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财务冗余对企业社会责任绩效的影响:来自中国上市公司的证据

The Impact of Financial Redundancy on Corporate Social Responsibility Performance: Evidence From Chinese Listed Firms.

作者信息

He Ling, Gan Shengdao, Zhong Tingyong

机构信息

School of Business, Sichuan University, Chengdu, China.

School of Accounting, Chongqing Technology and Business University, Chongqing, China.

出版信息

Front Psychol. 2022 May 19;13:882731. doi: 10.3389/fpsyg.2022.882731. eCollection 2022.

Abstract

This study examines the impact of financial redundancy on corporate social responsibility (CSR) based on a sample of Chinese listed firms from 2010 to 2020. The results indicate that financial redundancy has a significant positive effect on CSR. However, financially redundant resources are not balanced in terms of how they encourage firms to undertake different dimensions of social responsibility; specifically, firms actively take social responsibility toward shareholders and the public but take less responsibility for employees and the environment. The incentive for firms with financially redundant resources to promote CSR initiatives is attributable to their high level of social awareness and pursuit of reputation. Consistent with their motives, our economic consequence analysis reveals that the incremental effect of CSR driven by financial redundancy improves corporate reputation but has no enhancement effect on corporate performance. Finally, our extended analysis reveals that the relative impact of financial redundancy on CSR depends on several organizational variables that influence a firm's preferences for CSR investments. The positive impact of financial redundancy on CSR is stronger among firms with high managerial career concerns and firms in regions with high market competition. This research provides a necessary structure for future CSR studies to follow. By delving deeply into the relationship between financial redundancy and CSR, it enables scholars to better address the critical management question of whether wealthy firms do more good for society compared to those that are less wealthy.

摘要

本研究以2010年至2020年中国上市公司为样本,考察了财务冗余对企业社会责任(CSR)的影响。结果表明,财务冗余对企业社会责任有显著的正向影响。然而,财务冗余资源在鼓励企业承担不同维度社会责任的方式上并不均衡;具体而言,企业积极对股东和公众承担社会责任,但对员工和环境的责任承担较少。拥有财务冗余资源的企业推动企业社会责任倡议的动机在于其较高的社会意识和对声誉的追求。与它们的动机一致,我们的经济后果分析表明,由财务冗余驱动的企业社会责任的增量效应提高了企业声誉,但对企业绩效没有增强作用。最后,我们的扩展分析表明,财务冗余对企业社会责任的相对影响取决于几个影响企业对企业社会责任投资偏好的组织变量。在高管职业关注度高的企业和市场竞争激烈地区的企业中,财务冗余对企业社会责任的积极影响更强。本研究为未来企业社会责任研究提供了必要的框架。通过深入探究财务冗余与企业社会责任之间的关系,它使学者们能够更好地解决一个关键的管理问题,即与不太富裕的企业相比,富裕企业是否为社会做了更多的好事。

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