Family Involvement,Media Attention And Corporate Social Responsibility

Over the past 40 years of reform and opening up,with the continuous development of China's economy,private enterprises have gradually developed and expanded,playing an important role in promoting development,promoting innovation,increasing employment,improving people's livelihood and expanding opening up.On December 14,2019,the State Council issued the opinions on building a better development environment to support the reform and development of private enterprises,which clearly proposed to promote the standardized and healthy development of private enterprises,and to promote private enterprises to actively perform their social responsibilities.It can be seen that the social responsibility of private enterprises has risen to the national strategic level.As an important part of private enterprises,family business has made indelible contribution to the economic development of our country.Therefore,it has aroused more and more intense discussion in the academic circles.In the past,family businesses were considered as "rich but not benevolent" and "selfish" organizations.However,the existing research shows that family businesses play an important role in promoting Chinese enterprises to fulfill their social responsibilities.In-depth study of family corporate social responsibility behavior decision-making mechanism and explore the secret of family business' s "keen" performance of social responsibility,based on the theory of social emotional wealth,this paper explores the relationship between family involvement,media attention and corporate social responsibility from the perspective of family involvement and media attention,taking China's A-share listed family business as a sample.And try to answer the following three questions:(1)does the social responsibility performance of family business change with the degree of family involvement?(2)Does media attention affect the social responsibility performance of family business?(3)Does media attention affect the relationship between family involvement and corporate social responsibility?In order to answer the above questions,this paper makes a theoretical analysis and makes an empirical test with multiple linear regression model,and draws the following conclusions:(1)family involvement improves the social responsibility performance of family business.Specifically,the proportion of family ownership is positively related to the overall performance of corporate social responsibility,and family members' access to the board of directors is significantly related to the overall performance of family business social responsibility Positive correlation;(2)positive media attention has a significant positive correlation with the performance of family business social responsibility;(3)positive media attention has a positive regulatory effect on the relationship between family involvement and corporate social responsibility.Specifically,positive media attention has a positive regulatory effect on the relationship between family ownership ratio and corporate social responsibility,and positive media attention has a positive regulatory effect on the family members' access to directors It has a positive regulatory effect on the relationship between corporate social responsibility.The research of this paper has theoretical and practical significance.First,it further tests the theory of social emotional wealth.Whether the theory of social emotional wealth is applicable in China has not been determined.Through literature review and empirical analysis,this paper further examines the applicability of the theory of social emotional wealth in our country,and enriches the research of family enterprises in our country.Secondly,it broadens the research perspective of family business social responsibility.For the first time,this paper introduces media attention into the research of family business social responsibility,explores the mechanism of media attention for family business to fulfill social responsibility,and finds that media attention regulates the relationship between family involvement and corporate social responsibility.Finally,this study is conducive to promote the family business to take the initiative of social responsibility,and provides guidance for the reasonable guidance of family business to take social responsibility.