在非中资企业社会责任履行与国际化绩效关系的实证研究

An Empirical Study on the Relationship between Chinese-funded Enterprises’Corporate Social Responsibility and International Performance in Africa

在“一带一路”倡议和中非合作论坛机制框架推动下,越来越多的中资企业“走出去”扎根非洲,但有的投资者在关注非洲国家传统风险的同时,往往忽视了将社会责任风险纳入决策范畴,引发合法性缺失从而导致项目受挫。作为合法性获取的重要途径,社会责任的履行为企业提升国际化绩效提供可能。本文以108家对非洲开展直接投资的中资制造型企业为样本,实证分析了社会责任履行与国际化绩效的关系,并检验制度距离对上述关系的调节作用。结果表明中资企业在非洲履行社会责任对国际化绩效提升具有显著正向作用。同时,制度距离正向调节企业社会责任履行与国际化绩效的关系。研究还发现企业在非投资年限以及进入模式在不同程度上对其国际化绩效产生影响。

Under the framework of“the Belt and Road”initiative and the“Forum on China-Africa Cooperation”mechanism,more and more Chinese enterprises are“going out”and their footprints are found around Africa.However,Chinese investors currently often neglect to include social responsibility risks in their investment decision making while paying more attention to the traditional risks of African countries,which leads to the lack of legitimacy as well as investment projects getting troubled.As an important way to obtain legitimacy,corporate social responsibility provides the possibility for enterprises to improve their international performance.This paper takes 108 Chinese manufacturing multinational companies that have investment projects in Africa as a sample,to explore the relationship between CSR engagement in Africa and its international performance,as well as examine the moderating effect of institutional distance on the above relationship.We find that the fulfillment of CSR in Africa by Chinese multinationals’subsidiary has a significant and positive effect on the improvement of their international performance.Meanwhile,the greater the institutional distance between China and African countries,the stronger the positive effect of CSR on international performance.We also find that both the operation years in host countries and entry mode of joint venture play important roles in promoting international performance.