煤炭企业高管权力对企业社会责任的影响研究——基于股权集中度和市场化进程的调节作用

Research on Influence of Senior Managers’Power on Corporate Social Responsibility in Coal Enterprises——Regulatory effect based on stock ownership concentration and marketization process

选取2011—2018年中国沪深A股煤炭行业上市公司数据作为研究样本,结合管家理论并基于股权集中度和市场化进程作为调节变量,运用面板回归模型实证研究高管权力对煤炭企业社会责任的影响。研究结果表明:高管权力与企业社会责任呈正向相关关系,股权集中度与市场化进程对于高管权力与企业社会责任之间的关系均具有正向调节作用。通过进一步研究发现,相较于国有企业,在非国有企业中高管权力对企业社会责任的正向作用更为显著。

Selecting the data of A-share coal industry listed companies in Shanghai and Shenzhen from 2011 to 2018 as the research sample,combined with the housekeeper theory and based on the ownership concentration and marketization process as regulatory variables,uses panel regression model to empirically study the impact of executive power on coal corporate social responsibility.The results show that:there is a positive correlation between executive power and corporate social responsibility,and ownership concentration and marketization process have a positive moderating effect on the relationship between executive power and corporate social responsibility.Further research finds that compared with state-owned enterprises,the positive effect of executive power on corporate social responsibility is more significant in non-state-owned enterprises.