管理评论

›› 2019, Vol. 31 ›› Issue (3): 193-202.

• 组织与战略管理 • 上一篇    下一篇

企业社会责任、创新能力与国际化战略——高管薪酬激励的调节作用

王站杰1, 买生2   

  1. 1. 贵州财经大学工商学院, 贵阳 550025;
    2. 石河子大学经济与管理学院, 石河子 832003
  • 收稿日期:2017-09-04 出版日期:2019-03-28 发布日期:2019-03-27
  • 通讯作者: 买生,石河子大学经济与管理学院教授,博士生导师,博士。
  • 作者简介:王站杰,贵州财经大学工商学院副教授,博士。
  • 基金资助:

    国家自然科学基金项目（71463049）；贵州财经大学高层次人才科研启动项目（2018YJ33）。

Corporate Social Responsibility, Innovation Capability, and International Strategy: The Moderating Role of Executive Compensation Incentive

Wang Zhanjie1, Mai Sheng2   

  1. 1. School of Business, Guizhou University of Finance and Economics, Guiyang 550025;
    2. College of Economics & Management, Shihezi University, Shihezi 832003
  • Received:2017-09-04 Online:2019-03-28 Published:2019-03-27

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摘要：

企业社会责任与国际化经营是战略管理领域的热点问题，但已有研究对企业社会责任影响国际化战略的结论尚未达成一致，且对企业社会责任如何作用于国际化战略的路径探讨也不够深入和完善。文章基于利益相关者理论和制度理论，利用我国A股355家上市公司2013-2016年的面板数据，分析企业社会责任对国际化战略的影响，检验了创新能力的中介作用与高管薪酬激励的调节作用。实证结果发现：（1）企业的社会责任履行程度越高，国际化程度随之越强，表明企业社会责任是国际化战略决策与执行的关键影响因素；（2）创新能力在企业社会责任对国际化战略的影响中起部分中介作用，企业社会责任的履行可进一步通过创新能力正向作用于国际化战略；（3）高管薪酬激励对企业社会责任与国际化战略间的关系起负向调节作用，高管薪酬激励程度越高，企业社会责任对国际化战略的正向影响越弱。研究结论对国际化企业通过改善社会责任履行水平获得更高国际化绩效提供了经验借鉴。

关键词: 企业社会责任, 创新能力, 高管薪酬激励, 国际化战略

Abstract:

Corporate social responsibility and international management are two hot issues in the field of strategic management. However, previous researches conclude inconsistent results about the relationship between corporate social responsibility and international strategy. Meanwhile, the function route is not deep enough and perfect. Based on Stakeholder Theory and institutional theory, using the panel data of 355 listed companies in China from 2013 to 2016, this paper examines the effect of corporate social responsibility on international strategy, furthermore, it also investigates how innovation capability as a mediator and executive compensation incentive as a moderator influence enterprises' international strategy. The empirical results show that:(1) the international strategy is better in enterprises in which the corporate social responsibility in higher fulfilling degree and this also shows corporate social responsibility is a key factor of international strategy; (2) Innovation capacity plays a partial mediating role in the impact of corporate social responsibility on internationalization strategy. And the fulfillment of corporate social responsibility can further act positively on the internationalization strategy through innovation capability; (3) Executive compensation incentive can moderate the relationship between corporate social responsibility and international strategy, higher executive compensation incentive will lead to more negative impact of corporate social responsibility and international strategy. This study provides references for international enterprises to achieve higher international performance by improving the level of social responsibility.

Key words: corporate social responsibility, innovation capability, executive compensation incentive, internationalization strategy