高管特征对企业社会责任的影响研究——基于生命周期视角

Impact of Executive Characteristics on Corporate Social Responsibility——From a Life Cycle Perspective

以2015—2019年深沪两地A股上市企业为研究对象,基于生命周期视角,运用多元回归分析模型,将生命周期、高管特征、社会责任三者结合起来,实证研究不同生命周期阶段高管特征对社会责任的影响。研究结果表明,高管特征在不同生命周期阶段对社会责任具有不同影响。高管人员的平均年龄与企业生命周期各阶段社会责任均存在显著正相关关系。在成长期,高管的学术背景和海外背景可以激励企业积极履行社会责任;在成熟期,高管金融背景对企业社会责任具有显著积极影响;在衰退期,女性高管能够显著提高企业的社会责任意识,但无论企业处于成长期还是成熟期,长期任职都会显著抑制企业积极履行社会责任。

This paper takes a-share listed companies in Shenzhen and Shanghai from 2015 to 2019 as the research object.Based on the perspective of life cycle,multiple regression analysis model is used to combine the life cycle,executive characteristics and social responsibility,and empirically studies the impact of executive characteristics on social responsibility in different life cycle stages.The results show that executive characteristics have different impacts on social responsibility in different life cycle stages.There is a positive correlation between the average age of senior executives and social responsibility at all stages of corporate life cycle.In the growth stage,senior executives’academic and overseas backgrounds can encourage enterprises to actively fulfill their social responsibilities.In the mature stage,the financial background of senior executives has a significant positive impact on corporate social responsibility.Female executives can improve corporate awareness of social responsibility,but whether the enterprise is in the growth stage or mature stage,long-term tenure will inhibit the enterprise to fulfill social responsibility.