Entrepreneurial Buddhist Belief And Corporate Promotion For Common Prosperity

As a typical informal system,religious belief also plays a very important role in the process of economic development.Religion uses its own cultural and institutional attributes to influence the behavior of individuals and enterprises,as well as the economic development and cultural process of countries and nations.Having historically solved the problem of absolute poverty and achieved the first centenary goal of building a moderately prosperous society in all respects,common prosperity has become a major topic on China’s journey towards the second centenary Goal,and a higher level goal and task set forth in the new stage of China’s development.Common prosperity is an essential feature of socialism,and achieving common prosperity is also an important feature of Chinese modernization.At present,the specific links and realization paths of common prosperity are still being explored,but most of the previous studies on common prosperity are based on a macro perspective.This paper focuses on the micro mechanism of realizing common prosperity,and discusses the influence of Buddhist belief,a typical informal system,on promoting common prosperity of enterprises from the perspective of entrepreneurs’ personal religious belief.At the same time,in order to better depict the influence of religious belief in the Context of China,this paper chooses two moderating variables of marketization level and Confucian cultural tradition,hoping to further study the relationship between the two.Specifically,this paper first introduces the sociological theory of local religion and institutional theory,and reviews the literature on the influence of common prosperity,the impact of formal and informal institutions on corporate behavior,and put forward the hypotheses of this paper through theoretical analysis.Using the data from the ninth National Survey of Private enterprises and other literatures,this paper studies the influence of entrepreneurs’ religious background on private enterprises’behavior of promoting common prosperity by adopting multiple regression method for selected variables.Through empirical research,this paper finds that the buddhist belief of entrepreneurs has a positive role in promoting the enterprise of common prosperity,and the entrepreneurs who believe in Buddhism will make more positive contributions to the common prosperity.At the same time,This paper also finds that the positive correlation between entrepreneur’s Buddhist belief and common prosperity enterprise promotion is stronger in regions with higher marketization level,and the positive correlation between entrepreneur’s Buddhist belief and common prosperity enterprise promotion is stronger in regions with stronger Confucian cultural tradition.Based on the above conclusions,this paper puts forward the following suggestions:(1)Enterprises should be fully aware that "realizing common prosperity" is an important strategic goal of our country for a considerable period of time in the future,which needs the joint efforts of the whole society;(2)(2)Entrepreneurs should give full play to their influence in the enterprise.While improving their own business ethics,they should also integrate the universal concept of Buddhism into the practice of enterprise management,combine it with the modern enterprise management concept,explore the development path suitable for their own enterprises,and achieve a win-win situation of economic performance and social performance;(3)In the process of development,enterprises should constantly observe the external environment and be ready to adjust themselves to adapt to the changes of the external environment.This paper discusses the relationship between entrepreneurs’ personal religious belief and enterprises’ practice of promoting common prosperity.Different from the previous macro narrative,it focuses on the micro mechanism of realizing common prosperity and broadens the research perspective of common prosperity.At the same time,it innovates the measurement method of enterprise promotion of common prosperity,starting from the third distribution,the first distribution corresponds to the income gap between labor and capital within the enterprise,the redistribution corresponds to the coverage rate of social insurance within the enterprise,and the third distribution corresponds to the level of charitable donation of the enterprise,so as to measure the contribution of enterprises to promote common prosperity more comprehensively.In addition,this paper further discusses the interaction between informal and formal institutions based on the two moderating variables of marketization level and Confucian cultural tradition,which also proves that the"confluence of the three religions" still exists in China and exerts an impact on people’s behavior.It is hoped that this study can be used for reference by various subjects in the process of realizing common prosperity.There are still some limitations in this paper,which is expected to trigger further research in the future.First of all,in addition to the control variables selected in this paper,there may be other factors influencing the promotion of enterprises with common prosperity that are not considered in this paper,which need to be gradually explored in future studies.Secondly,due to data availability problems,cross-sectional data are used in this paper,which limits the robustness of the results to some extent.In the future research,the method of first-hand questionnaire can be considered for further research on this issue.Finally,this paper only studies the influence of Buddhist belief on the promotion of common prosperity enterprises.In future studies,other religions can be included in the scope of research to explore how the commonness and individuality of different religions influence corporate behavior.In addition,we can further explore the internal mechanism of religious belief affecting enterprise behavior,and further explore the primary and secondary mechanisms.