企业社会责任投入对制造企业组织韧性的影响研究

A Study of the Impact of Corporate Social Responsibility Investment on Organizational Resilience in Manufacturing Enterprises

基于利益相关者理论,结合理论演绎、现象观察,以及对于企业高层管理人员的深度访谈,理论构建了企业社会责任投入对于组织韧性的正向影响模型,并通过追踪中国A股制造业上市公司在特定公共卫生事件发生后的业绩复苏表现,利用事件史分析方法,探索了企业社会责任投入对事件后企业业绩恢复概率的影响,且对所构建的理论模型进行了实证检验。研究结果发现:企业社会责任投入对公司会计绩效和市场绩效都具有积极作用,即企业的净利润和股价会恢复得更快,其中,对政府的责任投入和对社会的责任投入对净利润的恢复作用大于对股价的恢复作用。研究结果还揭示出,企业前期的社会责任投入会改善或加强利益相关者关系,且在关键时刻能够帮助企业渡过危机,最终提升组织韧性。

Based on stakeholder theory,this study draws on theoretical deduction,field investigation together with in-depth interviews with corporate executives,and theorizes that the investment in corporate social responsibility(CSR)towards different stakeholders positively affects organizational resilience.By tracking how Chinese A-share listed manufacturing companies recovered from a specific public health event,event history analysis is used to empirically examine our theory.Results show that corporate social responsibility investment may advance the firm’s post-pandemic recovery in both accounting performance and market performance,which are manifested in net profit and stock price,respectively.Furthermore,CSR investment towards the government and the society has stronger effects on the recovery of net profit than on share price.This study reveals that a firm’s past CSR investment may enhance or improve stakeholder relationships,which may strengthen the firm’s ability to over come crisis,and ultimately advance organizational resilience.