Corporate competitive strategy is a key tool for achieving financial performance and is closely related to corporate social responsibility.The article empirically examines the relationship between CSR and financial performance using a sample of A-share listed companies in Shanghai and Shenzhen from 2010 to 2021.The study finds that the impact of CSR fulfillment on financial performance presents an inverted U-shaped nonlinear characteristic,with low-cost strategy attenuating the inverted U-shaped relationship between the two,while differentiation strategy strengthens the inverted U-shaped relation-ship between the two;the moderating effect of differentiation strategy is stronger than that of low-cost strategy,and the combined use of the two strategies significantly strengthens the impact of CSR on fi-nancial performance.The findings provide theoretical support and practical reference for promoting the concept of CSR and realizing high quality.
关键词
企业社会责任/财务绩效/低成本战略/差异化战略
Key words
Corporate Social Responsibility/Financial Performance/Low-Cost Strategy/Differentiation Strategy
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