| In recent years,it is not uncommon for Chinese enterprises to cross the legal and moral bottom line and infringe upon the rights and interests of stakeholders.In March2022,SASAC established the Bureau of Social Responsibility to promote the construction of social responsibility of state-owned enterprises.At the same time,Chinese government is also gradually aware of the importance and urgency of environmental protection,the intensity of environmental regulation is being gradually strengthened.The first responsibility subject of environmental governance is the enterprise.Therefore,the increase of the intensity of environmental regulation will inevitably bring some pressure to enterprises.At the same time,the enterprise is also the largest subject of social responsibility,and bears the important task of fulfilling corporate social responsibility.Theoretically,as an external institutional constraint,environmental regulation is an indispensable external pressure to promote the performance of corporate social responsibility,and the increase of its intensity will inevitably have an impact on the performance of corporate social responsibility.Furthermore,the policy effect of environmental regulation on corporate social responsibility will ultimately be affected by the composition of the internal members of the senior management team.In this context,it is of great practical significance to combine external policies with internal corporate governance mechanisms and put government environmental regulation and senior management team fault lines into the same framework to study corporate social responsibility.In view of this,supported by Porter hypothesis,social identity theory and high-level echelon theory,this paper takes Shanghai and Shenzhen A-share listed companies from2015 to 2019 as samples to explore the impact of environmental regulation on corporate social responsibility.The results show that there is a U-shaped relationship between environmental regulation and corporate social responsibility.After introducing the adjustment variable of the senior management team fault line,it is found that the U-shaped relationship between environmental regulation and corporate social responsibility is negatively regulated by the senior management team relationship fault line;the U-shaped relationship between environmental regulation and corporate social responsibility is positively regulated by the senior management team task fault line.In this paper,the research on the relationship between environmental regulation and corporate social responsibility,as well as the regulatory role of the fault line of senior management team,enriches the relevant research on the effect of environmental regulation policy and the influencing factors of corporate social responsibility.It confirms the importance of corporate executive team construction,and provides a theoretical basis for the government to implement environmental regulation,guide enterprises to attach importance to the construction of senior management team,and finally improve the performance of corporate social responsibility. |
