摘要
政治关联作为正式制度的一种替代机制，在社会经济活动中发挥着重要的作用。文章以2008～2013年我国沪深两市上市公司为研究对象，分别采用普通最小二乘法检验了管理者政治关联对企业绩效的影响机理，通过构建中介效应检验模型分析了社会责任在管理者政治关联影响企业绩效的路径作用。研究发现：管理者政治关联可以有效地推动企业绩效的增长；社会责任是管理者政治关联影响企业绩效的有效路径，管理者政治关联可以督促和鼓励企业向社会公益事业捐赠财物，提高企业的社会贡献水平和社会责任披露的质量，最终有利于企业绩效的增长。
As an alternative mechanism of formal institution, political connection plays an important role in so- cial economic activities. This paper adopts ordinary least square and empirically tests the impact of managers ~ political connections on the firm＇s performance, using data of companies listed in Shanghai and Shenzhen stock exchanges in the period of 2008~2013 as a study sample. We also establish a mediating effect testing model to analyze the path impact which social responsibility has in the effect of managers＇ political connection and firm performance. We find that manager＇s political connection can significantly improve firm＇s performance. Social responsibility is an effective path in the effect of managers＇ political connection and firm performance. Manag- ers~ political connection can encourage firms to donate properties to social welfare industry as well as improve social contribution level and the quality of social responsibility disclosure, and it is beneficial to the growth of performance at last.
出处
《大连理工大学学报（社会科学版）》
CSSCI
2015年第2期80-85,共6页
Journal of Dalian University of Technology(Social Sciences)
关键词
政治关联
社会责任
企业绩效
作用路径
political connection
social responsibility
firm performance
function route
