The Internal Connection Of The Board Of Directors, The Legal Environment And The Fulfillment Of Corporate Social Responsibilities

At the end of the 1940 s,the problems that arise in the business operation have caused scholars to pay attention to corporate social responsibility.In recent years,due to frequent occurrence of problems such as food safety,environmental pollution,and safe production,CSR has become a hot topic.To explore the factors that affect the fulfillment of CSR has become an urgent and important issue.The fulfillment of CSR is the result of a series of factors.However,the existing research focuses on the external environment and the organizational characteristics,lack of research from the perspective of manager team characteristics.As we all know,the implementation of any strategic behavior of a company derives from the decision of the senior management team,and the fulfillment of CSR is no exception.Therefore,in order to promote the implementation of corporate social responsibility,this paper attempts to start with the background characteristics of the board of directors and explore the influencing factors of CSR performance.This paper is based on the existing theories of Similarity and Attraction Theory,Upper Echelons Theory,Principal-agent Theory,and Institutional Theory.Using a panel dataset of listed companies from 2014 to 2016,we construct an index of alliance based on the resemblance between board members,and examine the effect of outside-director governance mechanism upon corporate social responsibility.The results show that corporate social responsibility perform better in company where the alliance between CEO and outside directors is strong;the levels of law enforcement environment plays the function of negative adjustment in the process of internal connection influencing corporate social responsibility;legal environment has a significant positive impact on corporate social responsibility.Finally,this paper discusses the better performance of corporate social responsibility from two aspects: external constraint mechanism and internal dynamic mechanism.