制度距离对中国海外投资企业社会责任影响研究——基于国际经验的调节作用
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摘要
随着我国"走出去"战略的全面实施,中国海外投资企业社会责任行为引起了国际社会以及中国政府的关注。在梳理相关理论和文献的基础上,以2010—2016年中国A股上市公司的海外投资企业为研究对象,实证分析了母国与东道国之间的制度距离对企业社会责任的影响,并进一步探究企业国际经验的调节作用。研究发现,法律制度距离、经济制度距离和文化制度距离对海外投资企业社会责任履行均有促进作用。并且,东道国发达程度不同,经济制度距离对企业社会责任的影响呈现"非对称性"。进一步地,企业海外投资经验可以减少"外来者劣势",对企业社会责任履行产生正向调节作用。研究结论意味着:一方面,海外投资企业要充分考虑东道国制度环境差异,积攒海外投资经验,积极履行社会责任;另一方面政府也应借鉴发达国家社会责任相关规范,进一步促进我国企业社会责任的发展。
With the full implementation of"Going Global"strategy,the corporate social responsibility behavior of China's overseas investment firms has attracted the attention of the international community and the Chinese government. Based on the previous literature and research,this paper empirically analyzes the influence of institutional distance between home country and host country on corporate social responsibility using overseas investment company of China A-share listed companies during the years from 2010 to 2016,and further explores the moderating effect of international experience in an enterprise. The research finds that all the law institutional distance,economic institutional distance and cultural institutional distance have the promoting effect on the fulfillment of corporate social responsibility in the overseas investment firms. Moreover,with the different degree of development in a host country,the influence of economic institutional distance on corporate social responsibility is "asymmetric". Furthermore,the international experience of an enterprise can reduce the"disadvantage of outsiders"and positively moderate the fulfillment of corporate social responsibility. Finally,based on the research conclusion,it points out the following. On one hand,overseas investment enterprises should consider the differences fully in the host country's institutional environment,accumulate overseas investment experience,and actively fulfill their social responsibilities. On the other hand,the government should learn from the relevant norms of social responsibility in the developed countries to further promote the development of corporate social responsibility in China.
With the full implementation of"Going Global"strategy,the corporate social responsibility behavior of China's overseas investment firms has attracted the attention of the international community and the Chinese government. Based on the previous literature and research,this paper empirically analyzes the influence of institutional distance between home country and host country on corporate social responsibility using overseas investment company of China A-share listed companies during the years from 2010 to 2016,and further explores the moderating effect of international experience in an enterprise. The research finds that all the law institutional distance,economic institutional distance and cultural institutional distance have the promoting effect on the fulfillment of corporate social responsibility in the overseas investment firms. Moreover,with the different degree of development in a host country,the influence of economic institutional distance on corporate social responsibility is "asymmetric". Furthermore,the international experience of an enterprise can reduce the"disadvantage of outsiders"and positively moderate the fulfillment of corporate social responsibility. Finally,based on the research conclusion,it points out the following. On one hand,overseas investment enterprises should consider the differences fully in the host country's institutional environment,accumulate overseas investment experience,and actively fulfill their social responsibilities. On the other hand,the government should learn from the relevant norms of social responsibility in the developed countries to further promote the development of corporate social responsibility in China.
引文
[1]TAN J,WANG L. MNC strategic responses to ethi-cal pressure:an institutional logic perspective[J]. Journal ofBusiness Ethics,2011,98(3):373-390.
[2]HUNTER T,BANSAL P. How standard is stand-ardized MNC global environmental communication?[J].Journal of Business Ethics,2007,71(2):135-147.
[3]HELIN S,SANDSTROM L. Codes,ethics andcross-cultural differences:stories from the implementation ofa corporate code of ethics in a MNC subsidiary[J]. Journalof Business Ethics,2008,72(2):281-291.
[4]BRAMMER S J,PAVELIN S,PORTER L A. Cor-porate charitable giving,multinational companies and coun-tries of concern[J]. Journal of Management Studies,2009,46(4):575-596.
[5]LUO Y. Political behavior,social responsibility,and perceived corruption:a structuration perspective[J].Journal of International Business Studies,2006,37(6):747-766.
[6]RODEIGUEZ P,SIEGEL D S,HILLMAN A,et al.Three lenses on the multinational enterprise:politics,corrup-tion and corporate social responsibility[J]. Journal of Inter-national Business Studies,2006,37(6):733-746.
[7]PENG M W,WANG D Y L,JIANG Y. An institu-tion based view of international business strategy:a focus onemerging economies[J]. Journal of International BusinessStudies,2008,39(5):920-36.
[8]TAN J. Institutional structure and firm social per-formance in transitional economies:evidence of multinationalcorporations in China[J]. Journal of Business Ethics,2009,86(2):171-189.
[9]WIIG A,KOLSTAD I. Multinational corporationsand host country institutions:a case study of CSR activities inAngola[J]. International Business Review,2010,19(2):178-190.
[10]范建红,陈怀超.制度距离影响跨国公司进入战略选择的机制与框架构建:一个权变的观点[J].中央财经大学学报,2015(2):75-82.
[11]杨亚平,高玥.“一带一路”沿线国家的投资选址———制度距离与海外华人网络的视角[J].经济学动态,2017(4):41-52.
[12]ZAHEER S. Overcoming the liability of foreignness[J]. Academy of Management Journal,1995,38(2):341-363.
[13]BOEHE D M. Exploiting the liability of foreign-ness:why do service firms exploit foreign affiliate networks athome?[J]. Journal of International Management,2011,17(1):15-29.
[14]KOSTOVA T,ZAHEER S. Organizational legiti-macy under conditions of complexity:the case of the multina-tional enterprise[J]. Academy of Management Review,1999,24(1):64-81.
[15]任兵,郑莹.外来者劣势研究前沿探析与未来展望[J].外国经济与管理,2012(2):27-34.
[16]CUI L,JIANG F. State ownership effect on firms'FDI ownership decisions under institutional pressure:a studyof Chinese outward-investing firms[J]. Journal of Interna-tional Business Studies,2012,43(3):264-284.
[17]RAY L. Why we give:testing economic and socialpsychological accounts of altruism[J]. Polity,1998,30(3):383-416.
[18]BATSON C D,SHAW L L. Evidence for altruism:toward a pluralism of prosocial motives[J]. Psychological In-quiry,1991,2(2):107-122.
[19]VEUGELERS R. Locational determinants andranking of host countries:an empirical assessment[J]. Kyk-los,2010,44(3):363-382.
[20]JOHANSON J,VAHLNE J E. The Uppsala inter-nationalization process model revisited:from liability of for-eignness to liability of outsider ship[J]. Journal of Interna-tional Business Studies,2009,40(9):1411-1431.
[21]肖红军.相关制度距离会影响跨国公司在东道国的社会责任表现吗?[J].数量经济技术经济研究,2014(4):50-67.
[22]WITT M A,LEWIN A Y. Outward foreign directinvestment as escape response to home country institutionalconstraints[J]. Journal of International Business Studies,2007,38(4):579-594.
[23]GAUR A S,LU J W. Ownership strategies andsurvival of foreign subsidiaries:impacts of institutional dis-tance and experience[J]. Journal of Management,2007,33:84-110.
[24]ALEKSYNSKA M,HAVRYLCHYK O. FDI fromthe south:the role of institutional distance and natural re-sources[J]. European Journal of Political Economy,2013(29):38-53.
[25]ESTRIN S,BAGHDASARYAN D,MEYER K E.The impact of institutional and human resource distance oninternational entry strategies[J]. Journal of ManagementStudies,2009,46(7):1171-1196.
[26]KOGUT B,SINGH H. The effect of national cul-ture on the choice of entry mode[J]. Journal of InternationalBusiness Studies,1988,19(3):411-432.
[27]王海妹,吕晓静,林晚发.外资参股和高管、机构持股对企业社会责任的影响———基于中国A股上市公司的实证研究[J].会计研究,2014(8):81-87.
[28]肖红军,胡叶琳,许英杰.企业社会责任能力成熟度评价———以中国上市公司为例[J].经济管理,2015(2):178-188.
[29]CARROLL A B. A three-dimensional conceptualmodel of corporate performance[J]. Academy of ManagementReview,1979,4(4):497-505.
[30]HYMER S H. The international operations of na-tional firms:a study of direct foreign investment[M]. Cam-bridge:The MIT Press,1976.
[31]CHILD J,NG S H,Wong C. Psychic distance andinternationalization:evidence from Hong Kong firms[J]. In-ternational Studies of Management and Organization,2002,32(1):36-56.
[32]ZAHEER S,MOSAKOWSKI E. The dynamics ofthe liability of foreignness:a global study of survival in finan-cial services[J]. Strategic Management Journal,1997,18(6):439-463.
(1)数据来源:《2017年度中国对外直接投资统计公报》,详见:http://hzs. mofcom. gov. cn/article/aa/201809/20180902791492. shtml。
[2]HUNTER T,BANSAL P. How standard is stand-ardized MNC global environmental communication?[J].Journal of Business Ethics,2007,71(2):135-147.
[3]HELIN S,SANDSTROM L. Codes,ethics andcross-cultural differences:stories from the implementation ofa corporate code of ethics in a MNC subsidiary[J]. Journalof Business Ethics,2008,72(2):281-291.
[4]BRAMMER S J,PAVELIN S,PORTER L A. Cor-porate charitable giving,multinational companies and coun-tries of concern[J]. Journal of Management Studies,2009,46(4):575-596.
[5]LUO Y. Political behavior,social responsibility,and perceived corruption:a structuration perspective[J].Journal of International Business Studies,2006,37(6):747-766.
[6]RODEIGUEZ P,SIEGEL D S,HILLMAN A,et al.Three lenses on the multinational enterprise:politics,corrup-tion and corporate social responsibility[J]. Journal of Inter-national Business Studies,2006,37(6):733-746.
[7]PENG M W,WANG D Y L,JIANG Y. An institu-tion based view of international business strategy:a focus onemerging economies[J]. Journal of International BusinessStudies,2008,39(5):920-36.
[8]TAN J. Institutional structure and firm social per-formance in transitional economies:evidence of multinationalcorporations in China[J]. Journal of Business Ethics,2009,86(2):171-189.
[9]WIIG A,KOLSTAD I. Multinational corporationsand host country institutions:a case study of CSR activities inAngola[J]. International Business Review,2010,19(2):178-190.
[10]范建红,陈怀超.制度距离影响跨国公司进入战略选择的机制与框架构建:一个权变的观点[J].中央财经大学学报,2015(2):75-82.
[11]杨亚平,高玥.“一带一路”沿线国家的投资选址———制度距离与海外华人网络的视角[J].经济学动态,2017(4):41-52.
[12]ZAHEER S. Overcoming the liability of foreignness[J]. Academy of Management Journal,1995,38(2):341-363.
[13]BOEHE D M. Exploiting the liability of foreign-ness:why do service firms exploit foreign affiliate networks athome?[J]. Journal of International Management,2011,17(1):15-29.
[14]KOSTOVA T,ZAHEER S. Organizational legiti-macy under conditions of complexity:the case of the multina-tional enterprise[J]. Academy of Management Review,1999,24(1):64-81.
[15]任兵,郑莹.外来者劣势研究前沿探析与未来展望[J].外国经济与管理,2012(2):27-34.
[16]CUI L,JIANG F. State ownership effect on firms'FDI ownership decisions under institutional pressure:a studyof Chinese outward-investing firms[J]. Journal of Interna-tional Business Studies,2012,43(3):264-284.
[17]RAY L. Why we give:testing economic and socialpsychological accounts of altruism[J]. Polity,1998,30(3):383-416.
[18]BATSON C D,SHAW L L. Evidence for altruism:toward a pluralism of prosocial motives[J]. Psychological In-quiry,1991,2(2):107-122.
[19]VEUGELERS R. Locational determinants andranking of host countries:an empirical assessment[J]. Kyk-los,2010,44(3):363-382.
[20]JOHANSON J,VAHLNE J E. The Uppsala inter-nationalization process model revisited:from liability of for-eignness to liability of outsider ship[J]. Journal of Interna-tional Business Studies,2009,40(9):1411-1431.
[21]肖红军.相关制度距离会影响跨国公司在东道国的社会责任表现吗?[J].数量经济技术经济研究,2014(4):50-67.
[22]WITT M A,LEWIN A Y. Outward foreign directinvestment as escape response to home country institutionalconstraints[J]. Journal of International Business Studies,2007,38(4):579-594.
[23]GAUR A S,LU J W. Ownership strategies andsurvival of foreign subsidiaries:impacts of institutional dis-tance and experience[J]. Journal of Management,2007,33:84-110.
[24]ALEKSYNSKA M,HAVRYLCHYK O. FDI fromthe south:the role of institutional distance and natural re-sources[J]. European Journal of Political Economy,2013(29):38-53.
[25]ESTRIN S,BAGHDASARYAN D,MEYER K E.The impact of institutional and human resource distance oninternational entry strategies[J]. Journal of ManagementStudies,2009,46(7):1171-1196.
[26]KOGUT B,SINGH H. The effect of national cul-ture on the choice of entry mode[J]. Journal of InternationalBusiness Studies,1988,19(3):411-432.
[27]王海妹,吕晓静,林晚发.外资参股和高管、机构持股对企业社会责任的影响———基于中国A股上市公司的实证研究[J].会计研究,2014(8):81-87.
[28]肖红军,胡叶琳,许英杰.企业社会责任能力成熟度评价———以中国上市公司为例[J].经济管理,2015(2):178-188.
[29]CARROLL A B. A three-dimensional conceptualmodel of corporate performance[J]. Academy of ManagementReview,1979,4(4):497-505.
[30]HYMER S H. The international operations of na-tional firms:a study of direct foreign investment[M]. Cam-bridge:The MIT Press,1976.
[31]CHILD J,NG S H,Wong C. Psychic distance andinternationalization:evidence from Hong Kong firms[J]. In-ternational Studies of Management and Organization,2002,32(1):36-56.
[32]ZAHEER S,MOSAKOWSKI E. The dynamics ofthe liability of foreignness:a global study of survival in finan-cial services[J]. Strategic Management Journal,1997,18(6):439-463.
(1)数据来源:《2017年度中国对外直接投资统计公报》,详见:http://hzs. mofcom. gov. cn/article/aa/201809/20180902791492. shtml。
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