Effects of Corporate Social Responsibility on Corporate Financial Performance: A Competitive-Action Perspective
从竞争行动视角，研究了企业社会责任对财务绩效的影响，发现高竞争行动水平下积极CSR提升绩效，低水平下消极CSR反而改善绩效。
We attempt to provide a more nuanced view of the relationship between corporate social responsibility (CSR) and firm financial performance using a competitive-action perspective. We argue that competitive action should be considered as an important contingency that determines the effects of CSR activities on firm financial performance. Using data for 113 publicly listed U.S. firms in the software industry between 2000 and 2005, we found that socially responsible activities (positive CSR) enhance firm financial performance when the firm’s competitive-action level is high, whereas socially irresponsible activities (negative CSR) actually improve firm financial performance when the competitive-action level is low. By introducing competitive action as an important contingency, this study contributes to the literature on CSR and strategic management.