The Impact of CSR Fulfillment on Total Factor Productivity——Based on the Empirical Research of Listed Industrial Enterprises in China
This study provided micro empirical data from 1351 listed industrial enterprises in China from 2011 to 2020 to analyze the impact of corporate social responsibility behaviors on total factor productivity(TFP).The results show that:①Corporate social respon-sibility has a positive impact on the total factor productivity of listed industrial enterprises in China.②The conduction effect of social responsibility investment in the three aspects of technical compensation,profit compensation and resource allocation is more significant.There is a significant positive correlation between corporate social responsibility and total factor productivity,indicating that corporate social responsibility can improve overall TFP by obtaining more government subsidies.Resource allocation is divided into capital alloca-tion and human resource allocation,and the results show that efficient capital and human resource allocation can bring more effective labor utilization and more reasonable talent allocation,reduce duplication of work,and further improve the overall efficiency.③The im-pact of corporate social responsibility on total factor productivity is heterogeneous in terms of pollution degree for regions and enterprises.
industrial corporate social responsibilitytotal factor productivityconduction effect
NETL
NSTL
万方数据
