Does the Decoupling of Corporate Social Responsibility in Private Enterprises Affect Sustainable Development Capability?—A Peer Effects Perspective

Abstract

Abstract: In recent years, the phenomenon of deviation between corporate social responsibility (CSR) commitment and fulfillment has occurred frequently, posing a severe challenge to the improvement of corporate sustainable development capabilities. Previous studies regard the CSR decoupling as a strategic tool to cope with institutional pressure. However, there is still limited literature on the peer effect of responsibility decoupling caused by imitation of firms within the same industry and region and the mechanism of how these peer effects influence sustainable development capabilities. This study builds multiple regression models to empirically examine whether peer effects of CSR decoupling exist among private enterprises using data from Chinese A-share listed private firms (2014—2020). Grounded in social contagion theory, this study explores the formation mechanisms of peer effects of CSR decoupling from three perspectives: inhibitive contagion, echoic contagion, and hysteretic contagion; investigates the moderating role of social network embeddedness on these peer effects among private firms; and analyzes the moderating role of tax incentive policies on the relationship of peer effects and corporate sustainable development capabilities. The results show that CSR decoupling among private enterprises exhibits peer effects, which are manifested as both regional and industry clustering. Social network embeddedness has a suppressing effect on these peer effects. Peer effects of CSR decoupling demonstrate an inverted U-shaped relationship with sustainable development capabilities. Moreover, tax incentive policies mitigate the inverted U-shaped relationship between peer effects of CSR decoupling and corporate sustainable development capabilities. These conclusions offer theoretical insights and practical guidance for enhancing the quality of CSR fulfillment and improving sustainable development capabilities in private enterprises.

Key words: CSR decoupling, peer effect, social contagion, sustainable development, tax incentive

Lu Jintao, Miao Qing, Jia Xiaorong, Song Malin, Lin Wenfang. Does the Decoupling of Corporate Social Responsibility in Private Enterprises Affect Sustainable Development Capability?—A Peer Effects Perspective[J]. Management Review, 2026, 38(2): 43-55.

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