生命周期视角下企业社会责任(CSR) 表现差异性研究: 中国上市公司财务会计经验证据

Performance and participation in corporate social responsibility (CSR) aspects of companies have been an increasingly concerned hot topic in corporate governance. Especially in the time of major public crisis (such as SARS, the outbreak of coronavirus (COVID -19 ) ) , the society concerns on CSR performance of companies and the topic becomes the focus of research in academia as well. Dickinson (2011) used cash flow patterns to classify corporate life cycle stages. Based on her method, this research divided corporate life cycle into maturity stage and other stages (including introduction, growth, decline and shakeout stages). Meanwhile, based on dynamic resource-based theory, this research provided a great amount of supportive empirical evidences in financial accounting from Chinese listed companies. This research aims to examine the differential relationship between various corporate life cycle stages and CSR performance. This research finds that Chinese enterprises in different stages of life cycle have significant differences in CSR performance. Also, companies in maturity stage perform better (active) than companies in other corporate life cycle stages. Findings of this research contribute to theoretical development of CSR. Moreover, thisresearch provides insightful guidance and practical implications for companies and practitioners on how to effectively make resource allocative decisions when facing societal public crisis.