论文部分内容阅读
企业社会责任是否会影响财务绩效是学术界长期争论的热点问题,为了拓展相关研究,本文考察了在政治关联的调节作用下二者关系的变化。研究发现,有政治关联的企业会获得更好的财务绩效,企业社会责任对财务绩效有显著的正向影响,但是在政治关联的作用下,企业社会责任对财务绩效的影响则是显著负向的。为此,企业在经营过程中不应该过度依赖政治关联。
Whether corporate social responsibility can affect financial performance is a hot topic in the academic debate for a long time. In order to expand the relevant research, this paper examines the changes in the relationship between the two under the regulatory role of political relevance. The study found that enterprises with political connections get better financial performance, and corporate social responsibility has a significant positive impact on financial performance. However, under the influence of political connections, the impact of corporate social responsibility on financial performance is significantly negative of. For this reason, enterprises should not overly rely on political links in their business operations.