Family Involvement,Expected Performance Pressure And Corporate Social Responsibility

Family business as an important form of organization has great social influence in the aspects of both number and scale.In the world,the majority of enterprises are founded by the founders or inherited by the family members,many of which are also considered as giants.During the past 30 years of reform and opening up,Chinese family business has made tremendous contributions to social progress and economic development.Throughout the history of China,Chinese businessmen have been rooted in the Confucian culture of business ethics very long time,since ancient times have to pay attention to the fine tradition of integrity and the wealth of social return.Now,the family enterprises are also follow the trend of history,to assume the important responsibility to promote social progress.In order to deepen the understanding of family business social responsibility behavior,this paper from the perspective of family involvement and expected performance pressure,based on the Socioemotional Wealth and Expectation Performance Feedback theory,from the sample of family-owned companies in A-share listed from 2010 to 2014,studies family involvement on corporate social responsibility behavior,and further explore the internal and external expectations of performance pressures on the regulation of the relationship between the two mechanisms.This paper attempts to answer the following two questions:(1)If the family involvement promote the role of corporate social responsibility?(2)If the internal and external expectations of performance pressures,have difference mechanism to the "family involvement-corporate social responsibility?Through the empirical analysis,the following conclusions are obtained:(1)Family ownership,family management rights and family control time have positive effects on social responsibility fulfillment;(2)Internal expectation performance pressure have negative effects on the relationship between family involvement and social responsibility fulfillment degree;while capital market performance pressure have positive effects on the relationship between family involvement and social responsibility fulfillment degree.The theoretical value of this paper is as followed:(1)Retest the Sociemotional Wealth theory.As a result the Sociemotional Wealth theory as an exotic,its theoreticalsystem is applicable to the transformation and upgrading stage of the Chinese family business is not clear.In this paper,we further test the theory of Sociaemotional Wealth of family business through literature review and empirical analysis,which enriches the research of family business in China.At the same time,this paper abandons the traditional dichotomy,focusing on the internal heterogeneity of family business,from family ownership,family management and family control time three angles to explain the family business can and willing to allocate resources to fulfill the social responsibility of the internal mechanisms;(2)Through the introduction of the Expected Performance Feedback theory,this paper examines the relative content of the family in order to protect the social emotional wealth between family members,which proves that when faced with different expected performance pressures,that is the internal expects performance pressure and capital market performance pressure,will change the loss of reference points in a timely manner,thus affecting their behavioral logic.The practical application value of this paper is as follows:(1)By studying the relationship between family involvement and corporate social responsibility,we can know the action mechanism behind the social responsibility behavior of family business.The research on social responsibility of Chinese family enterprises can make family enterprises realize that social responsibility has become a competitive advantage to promote their social responsibility better.(2)Through the study of internal and external performance pressure regulate the relationship on family involvement and corporate social responsibility,we can understanding the strategic choices for the majority of family businesses in different performance dilemma and to provide a logic of behavior and strategic selection criteria.