Hidden Value:Internal Mechanism Of Chairman’s Military Experience Affecting Corporate Social Responsibility

With the continuous promotion of corporate social responsibility behavior,the awareness of corporate social responsibility is gradually enhanced.Under the same environmental background,there are still great differences in the emphasis of different enterprises on fulfilling social responsibility,so that the theoretical circle of corporate social responsibility factors in-depth analysis.The practice of corporate social responsibility shows that enterprises should pay more attention to the characteristics of the Chairman’s experience and understand and analyze the Chairman’s past experience is the key to explore the decision-making mechanism of corporate social responsibility.In view of this,focusing on the Chairman’s military experience and exploring its influence on corporate social responsibility is not only helpful to increase the theoretical explanation of the Chairman and the driving factors of corporate social responsibility.It is also of great significance to improve the level of corporate social responsibility.In view of the existing literature to explore the impact of Chairman’s military experience on investment and financing,financial irregularities,mergers and acquisitions,but rarely pay attention to the relationship between Chairman’s military experience and corporate social responsibility performance.Although there are a few literatures trying to explore the influence of Chairman’s other life experiences on corporate social responsibility,the internal mechanism of the military experience affecting corporate social responsibility is not clear.In this regard,the research focuses on how to reshape corporate social responsibility behavior.Based on the imprint theory and stakeholder theory,the paper selects the data of Shanghai and Shenzhen A stock listed companies from 2011 to 2018,combines the Chairman’s background characteristic information collected manually,and uses regression analysis,tendency score matching method,lag variable method to test the main effect of the Chairman’s military experience,including the years and levels of military,the mediating role of Chairman’s narcissism and the moderating role of peer pressure and institutional environment.The research results show that the Chairman’s experience in the military positively affects corporate social responsibility,and the longer the Chairman joins the military and the higher the level,the more brave the enterprise has to assume social responsibility.The Chairman’s narcissism has an mediating effect in the process of military experience and years and levels affecting corporate social responsibility.At the same time,peer pressure weakens the positive relationship between the Chairman’s military experience and corporate social responsibility,the institutional environment strengthens the positive relationship between the Chairman’s military experience and years,levels and corporate social responsibility,and distinguishes the pressure from the different influence role of the system.In general,the brand of joining the military has a positive role in the military Chairman’s moral outlook and sense of rules,and urges the military Chairman to actively assume social responsibilities.The research expanded the economic consequences of the Chairman’s military experience to the field of corporate social responsibility,clarified the role path and boundary conditions of the military experience affecting corporate social responsibility,and provided enlightenment for the incentive and supervision of corporate social responsibility.