CSR investment timing in a duopoly: The threat of responsibility violations in the context of socially conscious customers
研究了双寡头市场中企业何时投资企业社会责任以应对社会责任意识顾客的期望，发现小企业会提前投资以吸引顾客，而大企业在高罚款或披露风险下也会较早投资，但若社会责任意识顾客占主导，大企业会推迟投资，产生挤出效应。
Sustainability in supply chains is increasingly important. Firms risk losing customers if they delay corporate social responsibility (CSR) investment but may gain customers from competitors by acting early. Using a dynamic model, we analyze CSR investment timing in a duopoly. We study when firms adopt responsible strategies to meet socially conscious customers’ expectations to avoid disclosure risks. Small firms invest early to attract customers from larger competitors. In markets with high penalties or disclosure risks, large firms invest relatively early. However, when socially conscious customers dominate, large firms delay investment relative to the small company, leading to a crowding-out effect.