Can Interlock Director Network Promote Corporate Social Responsibility?
With the attention of stakeholders such as the government,investors and consumers,more and more enterprises are integrating social responsibility into their long-term development strategies.Based on the social embeddedness theory,this paper takes the Targeted Poverty Alleviation events of China's A-share listed companies from 2016 to 2020 as the research object to empirically test whether the director network can promote corporate social responsibility and its mechanism,effectively avoiding the endogenous and accidental problems existing in previous studies.It is found that the director network can significantly promote the participation of enterprises in poverty alleviation and increase the amount of investment in poverty alleviation,mainly through the learning mechanism and the competition mechanism.The learning mechanism is reflected in the promotion effect between enterprises with the same property and industry followers,and the competition mechanism is reflected in the promotion effect of the director network is more obvious in enterprises with fierce competition.The conclusion of the study shows that the connection between enterprises will form a"good"atmosphere in the whole society,help rural revitalization,and let enterprises continue to shine in the field of social responsibility.
targeted poverty alleviationinterlock networkcorporate social responsibilitypeer effectrural revitalization
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