由王克稳和乔元波共同合作开展的研究the horizontal s- shaped relationship between corporate social responsibility and financial performance: the moderating effects of firm size and industry dynamism已在ssci期刊business ethics, the environment & responsibility上正式发表，山东大学县域发展研究院为论文通讯单位。
该研究基于2010-2020年间中国上市公司的27628个样本数据，分析了企业社会责任与公司财务绩效之间的复杂影响，指出在企业社会责任和公司财务绩效之间存在水平的s型关系，并且这一关系还会受到企业规模和行业动态性的调节。
论文摘要如下：
the relationship between corporate social responsibility (csr) and corporate financial performance (cfp) is inconclusive. building on csr power and stakeholder power arguments, slack resource theory, and agency theory, this study constructs a three- stage model to compare csr benefits and costs. this comparison indicates a horizontal s- shaped csr- cfp relationship. using a sample including 27,628 firm-year observations of chinese listed firms from 2010 to 2020, we find evidence for this horizontal s- shaped csr- cfp relationship, which reveals that the s curve is more pronounced for smaller firms and for firms operating in more dynamic industries. our findings contribute to the csr- cfp literature, csr power and stakeholder power arguments, and the evaluation of the moderating effects on the s curve. accordingly, these findings highlight key implications for decision- makers and policymakers.
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