Research On The Impact Of Listed Companies’ Participation In Non-local Chamber Of Commerce On Corporate Social Responsibility

Social responsibility is the main factor to promote the harmonious development of society.At present,many enterprises have not yet established a correct understanding of it.Most enterprises simply define it as a national task.Among the listed companies,the uneven and unbalanced development of social responsibility is serious.Only about one quarter of the listed companies choose to disclose the social responsibility report.As the union of the companies in foreign parts,Non-local Chamber of Commerce has certain governance functions for the society and has always been an important channel for communication between the government and enterprises,and between enterprises.This dissertation attempts to study the relationship between enterprises’ participation in Non-local Chamber of Commerce and enterprises’ social responsibility,and explore its influence mechanism.Based on the Third Sector Theory,Social Contract Theory and Reputation Theory,this dissertation analyzes the impact mechanism of companies’ participation in Nonlocal Chamber of Commerce on social responsibility.Taking the listed companies on the A-shares of China’s non-financial industry from 2010 to 2018 as the research sample,this dissertation empirically researches the influence of listed companies’ participation in Non-local Chamber of Commerce on corporate social responsibility.The results show that companies participating in Non-local Chamber of Commerce can significantly improve their fulfillment to social responsibility.After controlling potential endogenous problems by means of instrumental variable two-stage regression method,fixed effect,replacement variable and other methods,the benchmark regression result of this dissertation is still valid,and this effect in state-owned enterprises,large-scale enterprises,the enterprises in the regions of the top ten business groups during the Ming and Qing Dynasties and the enterprises in the eastern and central regions is more obvious.From the perspective of influence mechanism,the company’s participation in Non-local Chamber of Commerce affects the performance of corporate social responsibility by increasing the attention of the media and reducing the level of corporate financing constraints.Finally,according to the research results,this dissertation puts forward some policy suggestions for China’s social responsibility governance,such as strengthening the policy support of Chamber of Commerce organizations,guiding the positive reporting of media news,standardizing the external financing environment of enterprises and strengthening the implementation mechanism of social responsibility.