高管团队社会资本对CSR负面事件的缓解效应——基于产品市场视角
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摘要
本文基于产品市场视角,采用多元回归分析方法,考察企业社会责任(CSR)负面事件对产品市场竞争力的影响,以及高管团队社会资本的缓解效应。研究发现:CSR负面事件会显著降低企业产品市场竞争力;道德型负面事件对企业产品市场竞争力的负面影响比能力型负面事件更为严重; CSR负面事件对竞争行业企业产品市场的消极影响比垄断行业企业更为明显;高管团队社会资本可以显著缓解CSR负面事件对企业产品市场竞争力的冲击。
Frequent outbreaks of corporate social responsibility( CSR) negative events resulted in serious negative impact on enterprise performance. These negative events may be due to insufficient capacity of enterprises or lack of morality of enterprises.With the product market perspective being a key factor affecting enterprise performance,this paper uses multiple linear regression analysis to examine the impact of CSR negative events on the product market competitiveness and the mitigation effect of the top management team( TMT) social capital. The empirical results show that: CSR negative events significantly reduce the product market competitiveness; the morality-related negative events have stronger influence on the product market competitiveness than ability-related negative events; the CSR negative events have a more adverse effect on the product market competitiveness in the competitive industry than monopoly industry; and the TMT social capital can significantly alleviate the impact of CSR negative events on the product market competitiveness. The conclusions provide suggestions and support for management to cope with CSR negative events.
Frequent outbreaks of corporate social responsibility( CSR) negative events resulted in serious negative impact on enterprise performance. These negative events may be due to insufficient capacity of enterprises or lack of morality of enterprises.With the product market perspective being a key factor affecting enterprise performance,this paper uses multiple linear regression analysis to examine the impact of CSR negative events on the product market competitiveness and the mitigation effect of the top management team( TMT) social capital. The empirical results show that: CSR negative events significantly reduce the product market competitiveness; the morality-related negative events have stronger influence on the product market competitiveness than ability-related negative events; the CSR negative events have a more adverse effect on the product market competitiveness in the competitive industry than monopoly industry; and the TMT social capital can significantly alleviate the impact of CSR negative events on the product market competitiveness. The conclusions provide suggestions and support for management to cope with CSR negative events.
引文
[1]李培功,醋卫华,肖珉.资本市场对缺陷产品的惩戒效应---基于我国汽车行业召回事件的研究[J].经济管理,2011(4):118-124.Li Peigong,Cu Weihua,Xiao Min.The punishment effect of capital market on the automotive-recall firms---Evidence from automobile industry[J].Economic Management,2011(4):118-124.
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[18]钱士茹,韩瑜.企业高管团队社会资本与企业绩效关系的实证研究[C].第三届中国管理学年会---公共管理分会场论文集,2008:2683-2697.Qian Shiru,Han Yu.Research on the relationship between top management team’s social capital and corporate performance---A study based on Chinese corporate[C].The 3rd Chinese Academy of Management Annual Meeting---Public Administration Subcommittee,2008:2683-2697.
[19]Shipilov A,Danis W.TMG social capital,strategic choice and firm performance[J].European Management Journal,2006,24(1):16-27.
[20]Adler P S,Kwon S W.Social capital:Prospects for a new concept[J].Academy of Management Review,2002,27(1):17-40.
[21]边燕杰,丘海雄.企业的社会资本及其功效[J].中国社会科学,2000(2):87-99.Bian Yanjie,Qiu Haixiong.Corporate social capital and its efficacy[J].Social Sciences in China,2000(2):87-99.
[22]Batjargal,B.,Liu,M.Entrepreneurs’access to private equity in China:The role of social capital[J].Organization Science,2004,15(2):159-172.
[23]姜付秀,刘志彪.经济波动中的资本结构与产品市场竞争[J].金融研究,2005(12):73-85.Jiang Fuxiu,Liu Zhibiao.Capital structure and product market competition in economic fluctuation[J].Journal of Financial Research,2005(12):73-85.
[24]Peng M W,Luo Y.Managerial ties and firm performance in a transition economy:The nature of a micro-macro link[J].Academy of Management Journal,2000,43(3):486-501.
[25]陈璐,杨百寅,井润田等.高层管理团队内部社会资本、团队冲突和决策效果的关系---研究综述与理论分析框架[J].南开管理评论,2009,12(6):42-50.Chen Lu,Yang Baiyin,Jing Runtian,et al.TMT internal social capital,conflict and decision effects:A literature review and theoretic framework[J].Nankai Business Review,2009,12(6):42-50.
[26]古家军,王行思.企业高管团队内部社会资本、团队行为整合与战略决策速度的关系研究[J].科研管理,2016,37(8):123-129.Gu Jiajun,Wang Xingsi.A research on the relationship between TMT internal social capital,team behavioral integration and strategic decision-making speed[J].Science Research Management,2016,37(8):123-129.
[2]沈洪涛,王立彦,万拓.社会责任报告及鉴证能否传递有效信号?---基于企业声誉理论的分析[J].审计研究,2011(4):87-93.Shen Hongtao,Wang Liyan,Wan Tuo.Can corporate social report and assurance be effective signals?---An analysis based on reputation theory[J].Auditing Research,2011,(4):87-93.
[3]齐丽云,李腾飞,郭亚楠.企业社会责任对企业声誉影响的实证研究---基于战略选择的调节作用[J].科研管理,2017,38(7):117-127.Qi Liyun,Li Tengfei,Guo Yanan.An empirical study of the impacts of corporate social responsibility on corporate reputation-The moderating role based on strategic choices[J].Science Research Management,2017,38(7):117-127.
[4]江炎骏,徐勇.企业社会责任对负面事件发生时股东财富的影响[J].中大管理研究,2012,7(1):102-120.Jiang Yanjun,Xu Yong.The impacts of corporate social responsibility on shareholder wealth when negative events happened[J].China Management Studies,2012,7(1):102-120.
[5]Bhattacharya C B,Sen S.Doing better at doing good:When,why,and how consumers respond to corporate social initiatives[J].California Management Review,2004,47(1):09-24.
[6]Lichtenstein D R,Drumwright M E,Braig B M.The effect of corporate social responsibility on customer donations to corporate-supported nonprofits[J].Journal of Marketing,2004,68(4):16-32.
[7]陈晓峰.企业社会责任与顾客忠诚度关系的实证分析-基于牛乳制品消费者的视角[J].科研管理,2014,35(1):98-106.Chen Xiaofeng.Research on relationship between corporate social responsibility and customer loyalty-An empirical analysis based on some of the dairy consumer awareness[J].Science Research Management,2014,35(1):98-106.
[8]Riahi-Belkaoui A,Pavlik E L.Accounting for corporate reputation[M].Praeger Pub Text,1992.
[9]Klein B,Leffler K.The role of price in guaranteeing quality[J].Journal of Political Economy,1981,89(4):615-641.
[10]Godfrey P C.The relationship between corporate philanthropy and shareholder wealth:A risk management perspective[J].The Academy of Management Review,2005,30(4):777-798.
[11]Menon G,Jewell R D,Unnava H R.When a company does not respond to negative publicity:Cognitive elaboration vs.negative affect perspective[J].Advances in Consumer Research,1999,26(26):325-329.
[12]Weiner B,Perry R P,Magnusson J.An attributional analysis of reactions to stigmas[J].Journal of Personality and Social Psychology,1988,55(5):738-748.
[13]Siomkos G J,Kurzbard G.The hidden crisis in productharm crisis management[J].European Journal of Marketing,1994,28(2):30-41.
[14]Pullig C,Netemeyer R G,Biswas A.Attitude basis,certainty,and challenge alignment:A case of negative brand publicity[J].Journal of the Academy of Marketing Science,2006,34(4):528-542.
[15]Fisman R,Heal G,Nair V.A model of corporate philanthropy.[J].Columbia University and University of Pennsylvania,2006.
[16]Ma B,Zhang L,Li F,et al.The effects of product-harm crisis on brand performance[J].International Journal of Market Research,2010,52(4):443-458.
[17]齐丽云,张碧波,郭亚楠.消费者企业社会责任认同对购买意愿的影响[J].科研管理,2016,37(5):112-121.Qi Liyun,Zhang Bibo,Guo Yanan.The impact of consumer’s identification of corporate social responsibility on purchase intentions[J].Science Research Management,2016,37(5):112-121.
[18]钱士茹,韩瑜.企业高管团队社会资本与企业绩效关系的实证研究[C].第三届中国管理学年会---公共管理分会场论文集,2008:2683-2697.Qian Shiru,Han Yu.Research on the relationship between top management team’s social capital and corporate performance---A study based on Chinese corporate[C].The 3rd Chinese Academy of Management Annual Meeting---Public Administration Subcommittee,2008:2683-2697.
[19]Shipilov A,Danis W.TMG social capital,strategic choice and firm performance[J].European Management Journal,2006,24(1):16-27.
[20]Adler P S,Kwon S W.Social capital:Prospects for a new concept[J].Academy of Management Review,2002,27(1):17-40.
[21]边燕杰,丘海雄.企业的社会资本及其功效[J].中国社会科学,2000(2):87-99.Bian Yanjie,Qiu Haixiong.Corporate social capital and its efficacy[J].Social Sciences in China,2000(2):87-99.
[22]Batjargal,B.,Liu,M.Entrepreneurs’access to private equity in China:The role of social capital[J].Organization Science,2004,15(2):159-172.
[23]姜付秀,刘志彪.经济波动中的资本结构与产品市场竞争[J].金融研究,2005(12):73-85.Jiang Fuxiu,Liu Zhibiao.Capital structure and product market competition in economic fluctuation[J].Journal of Financial Research,2005(12):73-85.
[24]Peng M W,Luo Y.Managerial ties and firm performance in a transition economy:The nature of a micro-macro link[J].Academy of Management Journal,2000,43(3):486-501.
[25]陈璐,杨百寅,井润田等.高层管理团队内部社会资本、团队冲突和决策效果的关系---研究综述与理论分析框架[J].南开管理评论,2009,12(6):42-50.Chen Lu,Yang Baiyin,Jing Runtian,et al.TMT internal social capital,conflict and decision effects:A literature review and theoretic framework[J].Nankai Business Review,2009,12(6):42-50.
[26]古家军,王行思.企业高管团队内部社会资本、团队行为整合与战略决策速度的关系研究[J].科研管理,2016,37(8):123-129.Gu Jiajun,Wang Xingsi.A research on the relationship between TMT internal social capital,team behavioral integration and strategic decision-making speed[J].Science Research Management,2016,37(8):123-129.
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