Altruistic Corporate Social Responsibility and Organizational Resilience:Treating on COVID-19 as an Exogenous Event
Can altruistic Corporate Social Responsibility(CSR)influence organizational resilience?Specifically,by treating COVID-19 as an exogenous event and using COX proportional hazards models for regression analysis,the results show that higher performance levels in altruistic CSR are associated with a faster recovery of share prices to pre-crisis levels after the crisis,indicating stronger organizational resilience.When other conditions are held constant,both an altruistic social atmos-phere in the region where the firm is located and executive overcompensation weaken the positive impact of altruistic CSR on organizational resilience.
altruistic corporate social responsibilityorganizational resilienceindirect reciprocityshare price of recovery
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