The Mitigation Effect Of TMT Social Capital On The Consequences Of Negative CSR Events

With the economic development and social progress,people's basic living requirements have been met,on this basis,the consumer's consumption concept gradually changed,and began to pursue high quality and healthy life.However,in recent years,domestic and foreign enterprises frequently exposed negative events,these negative information reduces the consumer's evaluation of the enterprise or industry.Academia thinks that negative events is enterprise moral issues,wrong behaviors or false negative news,consumers will reject products even the entire enterprise due to the exposure of negative events.The consumers' consumption will directly lead to the enterprise decline in market share,so the competitiveness of products in the market will be influenced.However different enterprises are in different market environment,monopoly or competition environment has a direct impact on the space of the consumers' choice,this paper will study in the different market competition environment,the differences of the effect of negative events occur.In addition,taking into account the executives as key decision makers of the enterprise development and crisis management,the study will show the effect of the o social capital of TMT.With this study,I hope to provide recommendations for the management of the crisis management.On the view of product market analysis of consequences of corporate social responsibility for negative events,while taking into account to the effect of TMT social capital,this study found the following three conclusions:1,corporate social responsibility negative events have significant negative effects on the enterprise product market competitiveness,and compared to the monopoly of the environment,competition environment of negative events influence is more obvious;2,moral negative events influence more than the ability of negative events to the enterprise product market competitiveness;3,the TMT social capital can significantly alleviate the impact of negative events on the product market.The full text is divided into the following seven parts:The first part,introduction.This part mainly introduces the motivation,research ideas,structure arrangement,theoretical and practical significance of the paper,and the innovation of the paper.The second part,literature review.This part firstly reviewed the theory of the economic corporate social responsibility and CSR negative events;secondly,it conducts a review of the concept of TMT social capital.Finally,this part reviewed the related theory and the related literature.The third part,theoretical analysis and hypothesis.On the basis of stakeholder theory,the connotation of corporate social responsibility is discussed.Through the'analysis of negative events' impact on consumer behavior,research on the influence of CSR negative events to the product market,as while as taking into account in different degree of competition in the industry and different types of negative events.Based on the social capital theory,the effect of the social capital of the top management team on the negative events has been studied,and the hypothesis has been put forward.The fourth part,research and design.This part mainly includes the selection of the sample,the selection of data,the construction of the model and the definition of the variables.The fifth part,the empirical test and the result analysis.Firstly,there are descriptive statistics and correlation analysis about the corporate social responsibility negative events and market reaction.Followed by a multivariate regression analysis,robustness tests and further testing in order to overcome endogenous.The sixth part,policy recommendations,research limitations and prospects.According to the conclusions of the study,there are some reasonable suggestions about how to locate CSR negative events.This part also points out the limitations of the study and the direction of further study.The possible significance has the following three points:first,this article focus on the impact to the product market which fulfill the research perspective,and this will provide more theoretical support.Second,this paper considers the industry competition degree,analyzes the influence of the negative events on the market reaction in the different industry competition environment,and provides the theory support for the government's supervision.Third,this paper researched consider the social capital of top management team,and explored how to influence the result,clearly shows that social capital as the enterprise intangible resources in the enterprise has an important position,so this also enrich and improve the relevant theoretical research.