企业社会责任与创新:高管团队任期及其异质性的调节作用

Corporate Social Responsibility and Innovation:Moderating Effect of Executive Team Tenure and Its Heterogeneity

社会责任的履行和创新研发都需要企业长期大规模投入,而企业管理者在其中起到的决策作用不容忽视。本研究首先构建企业社会责任的认知分级动态模型,认为企业是否愿意承担更多社会责任的关键在于高管在实践中能否感知到其投入的边际回报。因此,高管在位时间长短是企业社会责任与创新产出之间的关键调节变量。本文以2014—2018年上市公司数据为样本,研究得出两个结论:①企业社会责任的投入与创新产出之间存在显著的正相关;②任期长的高管能够有效将企业社会责任转化为创新绩效,而高管团队任期的异质性则起到相反作用。

It requires a large amount of resources for firm to develop corporate social responsibility(CSR)and innovation.To make a balance between them,the role of executives cannot be ignored.This study first constructs a dynamic model to understand different stages of CSR,and holds that whether entrepreneurs would undertake more CSR depends on the long-term return of their investment in the past.Therefore,the length of executive s tenure is one of the most important factors that moderate the relationship between CSR and innovation.Based on the data of listed companies from 2014 to 2018,the paper draws two conclusions.①There is a significant positive correlation between CSR and corporate innovation;②Executives with longer tenure can transform CSR into better innovation performance,while the heterogeneity of executive team tenure plays an opposite role.