社会责任、政治关联与公司多元化发展——来自中国民营上市公司的证据

文章从民营企业社会责任与政治关联的战略性运用角度出发,研究中国民营上市公司社会责任的履行、政治关联的建立及公司多元化发展三者之间的关系。实证检验发现,中国民营企业建立政治关联有利于促进公司多元化投资,获取多元化发展所需空间;企业社会责任的履行也有助于公司多元化战略的实施;同时社会责任履行越好的民营企业越容易建立政治关联;且履行社会责任越好的企业,通过政治关联促进多元化战略的作用越强。本研究为认识民营企业建立政治关联获取发展资源提供新的经验证据,同时为中国民营企业的社会责任履行提供新的视角。

Social responsibility, political connections and diversification strategy: Evidence from listed private enterprises in China

This article starts from the strategic application of social responsibility and political connections, discusses the relationship among social responsibility, political connections and the diversification strategy from Chinese publicly listed private enterprises. The empirical test results show that private enterprises establishing political connections can contribute to diversification, and conducting social responsibility helps the promotion of the diversification strategy; and those taking more social responsibility are easier to establish political connections. In the meanwhile, the more social responsibility private enterprises take, the stronger association between political connections and diversification for private enterprises is. This study provides a new empirical evidence for the understanding of political connections for private enterprises to the access of economic resources, and a new perspective for the conduct of social responsibility from private enterprises.