The Iron Law of Responsibility and Policy-Guided Corporate Social Responsibility:A Perspective of Targeted Poverty Alleviation and Rural Revitalization
From the perspective of the industry form characteristics,this paper studies the pressure mechanism and the new mechanism of internal guidance within the industry of the Iron Law of Responsibility in the firms'participation in poverty alleviation and rural revitali-zation behaviors under the guidance of the common prosperity policy.The study shows that under the pressure mechanism of the Iron Law of Responsibility,firms'participation in poverty alleviation and rural revitalization behaviors show an industrial pattern of state-owned firms and market-leading firms taking the lead,private firms following state-owned firms,and non-market-leading firms following market-leading firms.Further analyses show that the pressure of the Iron Law of Responsibility mainly comes from five aspects:firm re-source strength,value orientation,business attributes,industry attributes and external pol-icy guidance.The poverty alleviation and rural revitalization behaviors of state-owned enter-prises and market-leading enterprises significantly improve the poverty alleviation and rural revitalization performance as well as the firms'own operating performance,and achieve a win-win situation for both social value and firm value.This paper finds new evidence of the pressure transfer mechanism of the Iron Law of Responsibility and the industrial internal guidance mechanism in policy-guided CSR scenarios,and also demonstrates the signifi-cance of industry dynamics in the firms'participation in poverty alleviation and rural revitali-zation behaviors.
Corporate Social ResponsibilityPolicy GuidanceIron Law of Respon-sibilityTargeted Poverty AlleviationRural Revitalization
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