Does product market competition foster corporate social responsibility? Evidence from trade liberalization
利用美国制造业1992-2005年进口关税大幅削减作为自然实验，研究发现国内企业通过增加企业社会责任活动来应对外国竞争，支持了企业社会责任作为竞争战略的观点。
This study examines whether product market competition affects corporate social responsibility (CSR). To obtain exogenous variation in product market competition, I exploit a quasi‐natural experiment provided by large import tariff reductions that occurred between 1992 and 2005 in the U.S. manufacturing sector. Using a difference‐in‐differences methodology, I find that domestic companies respond to tariff reductions by increasing their engagement in CSR. This finding supports the view of “CSR as a competitive strategy” that allows companies to differentiate themselves from their foreign rivals. Overall, my results highlight that trade liberalization is an important factor that shapes CSR practices . Copyright © 2014 John Wiley & Sons, Ltd.