高管性别、制度环境与企业CSR决策

Management gender,institutional environment and CSR decisions of enterprises

基于商业伦理和性别角色差异的理论视角,探讨了高管性别对企业CSR决策的影响效应和作用机理,并利用2010~2013年我国沪深上市公司社会责任数据,运用多元回归、2SLS工具变量回归和广义矩回归等方法进行实证检验。结果表明:(1)高管性别对企业CSR决策产生了重要影响,当企业CEO为女性或高管团队中女性比例增加时,企业CSR质量得到显著提升;(2)制度环境对高管性别与企业CSR质量之间的关系具有显著的调节作用,企业所在地区的制度环境越落后,女性高管改善企业CSR质量的积极效应越明显。本研究拓展了对企业伦理决策与社会责任的理论认知,也丰富了女性高管决策领域的研究文献。

Based on the theory of business ethics and gender role differences,this study examines the impact of management gender on CSR decisions. Using the methods of multivariate regression,two-stage least squares regression and generalized moment regression,the data taken from Chinese listed companies in Shanghai and Shenzhen stock exchanges between 2010 and 2013 indicates that management gender exerts a significant influence on CSR decisions. Firms with female CEO or higher ratio of female executives are more likely to improve the quality of CSR. Furthermore,institutional environment significantly moderates the relationship between female executives and CSR. That is to say,the positive effect of female executives on CSR in regions with stronger institutional environment is more significant than that in regions with weaker institutional environment. This study expands the theoretical cognition of business ethics and corporate social responsibility,and enriches the literatures of female executives＇ decision-making.