企业社会责任承担对制造业企业成长的影响研究——基于企业生命周期视角
Research on the Influence of CSR Commitment on the Growth of Manufacturing Enterprises:Based on the PerspeCtive of Enterprise Life Cycle
周桢 1冯学良2
作者信息
- 1. 山东交通学院 经济与管理学院,山东 济南 250357
- 2. 山东师范大学 经济学院,山东 济南 250399
- 折叠
摘要
基于 2011-2021 年中国A股制造业上市公司数据,从企业生命周期视角,实证研究了企业社会责任承担对企业成长的影响.结果表明,企业社会责任承担能显著促进企业成长,但从企业生命周期的不同阶段看,企业社会责任承担主要对成长期阶段的企业成长起到了促进作用,而对进入成熟期的企业成长促进效应边际递减.进一步的中介效应分析显示,吸引投资者关注、缓解企业面临的融资约束,以及提高创新意愿是企业社会责任承担促进企业成长的中介渠道.
Abstract
Based on the data of China's A-share manufacturing listed companies from 2011 to 2021,this paper empirically studies the impact of corporate social responsibility on corporate growth from the per-spective of corporate life cycle.The results show that CSR commitment can significantly promote the growth of enterprises,but from the different stages of the enterprise life cycle,CSR commitment mainly plays a role in promoting the growth of enterprises in the growth stage,while the effect of pro-moting the growth of enterprises in the mature stage decreases.Further analysis of the intermediary effect shows that attracting the attention of investors,easing the financing constraints faced by enter-prises,and improving the willingness to innovate are the intermediary channels for corporate social re-sponsibility to promote corporate growth.
关键词
企业社会责任/企业成长/企业生命周期/融资约束/创新意愿Key words
Corporate Social Responsibility/Corporate Growth/Corporate Life Cycle/Financing Con-straints/Innovation Willingness引用本文复制引用
基金项目
济南市哲学社会科学基金(JNSK22C65)
出版年
2024
NETL
NSTL
万方数据