Research On The Relationship Between Corporate Social Responsibility And Performance Under Institutional Pressure

Since the 21st century,my country’s economic construction has made historic achievements.However,with the rapid development of the economy,more and more social problems have gradually become prominent:environmental pollution,tax evasion and tax evasion,reputation crisis,etc.Threats to business and social development.In recent years,as the connection between enterprises and the general public has gradually become closer,more and more stakeholders,including the government,the media,and the public,have realized that enterprises are not only individuals chasing profits,but also a company embedded in society.An organization bound by a social system.More and more enterprises incorporate social responsibility into their development strategies,trying to achieve a win-win situation between economic and social benefits.Under the conflict between corporate social responsibility and profit-making,the relationship between social responsibility and performance has always been the focus of academic debate.A large number of studies have shown that companies actively undertaking social responsibility can effectively improve their core competitiveness,thereby Improve corporate performance,but few scholars conduct research from the perspective of institutional environment.Since enterprises have to face not only the problems of their own business organization,but also the external pressure imposed by the government,the media,and the public in the process of development,the research in this paper is based on the theory of the system and starts from the three levels of system pressure.The moderating effect of regulatory pressure,normative pressure and cognitive pressure in corporate social responsibility on performance has certain theoretical and practical significance.Based on 4054 panel data of A-share listed companies in my country from 2015 to 2020,this paper analyzes the impact of corporate social responsibility on performance and the moderating effect of institutional pressure on the impact of corporate social responsibility on performance,and conducts robustness testing and heterogeneity analysis.The research results show that:(1)The overall impact of corporate social responsibility on its performance is positive and the effect is long-term and sustainable,so actively fulfilling responsibilities is more conducive to the sustainable development of enterprises.(2)Regulatory pressure can positively moderate the impact of corporate social responsibility on performance,but with the passage of time,the impact of this moderating effect gradually weakens;normative pressure and cognitive pressure play a positive role in the impact of corporate social responsibility on performance.A direct moderating effect,but the effect is recessive and delayed due to hysteresis.(3)From the perspective of the nature of property rights,the moderating effect of the regulatory environment and the regulatory environment of state-owned enterprises is more significant,and the moderating effect mechanism of cognitive pressure on non-state-owned enterprises is more obvious.(4)Through industry analysis,it can be seen that the regulatory effect of regulatory pressure on energy enterprises is relatively strong;the regulatory effect of regulatory pressure on manufacturing is stronger;the regulatory effect of cognitive pressure on high-tech enterprises is more obvious than other industries.This paper introduces the moderating effect of institutional pressure into the research on the impact of corporate social responsibility on performance,and explores the impact of corporate social responsibility from the perspectives of financial results and market value.Taking into account the "intangible" factors such as social public,media public opinion and value cognition Influence,innovatively starts from the three dimensions of institutional pressure,namely regulatory pressure,normative pressure and cognitive pressure,respectively analyzes the regulatory effect of institutional pressure on corporate social responsibility affecting performance,and further subdivides the research subjects into different property rights and industry,broadening and refining the mechanism of the system’s impact on corporate social responsibility performance,providing strong empirical evidence and reference for promoting enterprises to actively fulfill social responsibilities,strengthening government regulation and promoting media public opinion,and has certain value.Contribution and innovation.