Research On The Impact Of Corporate Strategy On Corporate Social Responsibility

In recent years,the state has taken the construction of ecological civilization seriously.A Series of policies were put forward,such as: “Five in one”,reforming civilization system and "2030 carbon peak and 2060 carbon neutral",emphasizing the importance of environmental protection to current development.However,some enterprises unilaterally pursued economic benefits and regarded the social responsibility as the product of social pressure.Social responsibility problems such as environmental pollution,infringement on the rights of employees and consumers and food safety occurred frequently.The reason is the lack of responsibility consciousness.Guiding enterprises to undertake social responsibility and creating a good social environment has become a hot topic of academic research.Some scholars pointed out that if enterprises change their attitude towards social responsibility from "passive" to "active",it is inseparable from the driving force of the company’s strategy and core value business.Companies with different strategies has different social responsibility motivation and performance.Therefore,this research stated how strategy affects the performance of corporate social responsibility,and what changes existed in the relationship between corporate strategy and social responsibility under the influence of industry competition and internal control.Based on principal-agent theory,stakeholder theory,resource dependence theory and signal theory,this paper built the theoretical framework of corporate strategy and corporate social responsibility,and selected the data of A-share companies in China from 2010 to 2020 for empirical research.The results show that:(1)Enterprises with aggressive strategies usually have better profit prospects,research and development capabilities and higher operational risks.social responsibility can help enterprises transmit high-quality development signals,reduce the information gap between the company and investors,and buffer the business risks brought by aggressive strategies.Therefore,compared with defensive enterprises,offensive enterprises have a higher level of social responsibility.(2)Industry competition accelerates the implementation of the corporate strategic measures.Enterprises tend to deliver excellent social responsibility performance to the outside world to improve their reputation,thus widening the gap with competitors.Industry competition will strengthen the relationship between corporate strategy and the performance of corporate social responsibility.(3)High-quality internal control can identify various risks in the operation of enterprises,alleviate agency conflict within the company,and provide a good environmental basis for enterprises to improve their social responsibility performance.In other words,the relationship between strategy and the performance of corporate social responsibility is more significant in the enterprises with high-quality internal control.Finally,this paper selected Zhong Xin company as a typical case to analyze the relations between strategic and social responsibility,and explored their changes under industry competition and internal control levels to verify and supplement the empirical results.Based on the research,this paper provides some suggestions from the perspective of government,enterprises and investors:(1)government departments should strengthen the supervision of social responsibility,establish a scientific social responsibility rating system,and guide enterprises to perform social responsibility.(2)Enterprises should recognize the relationship between corporate strategy and social responsibility,and incorporate social responsibility into their long-term strategy.(3)Investors should pay more attention to the performance of corporate social responsibility,improve the ability of information screening and decision-making,and make rational investment.