企业社会责任与风险承担: 基于资源依赖理论视角

Based on resource dependence theory, we explore the mechanism of how corporate social responsibility influences corporate risk-taking. We document that corporate risk-taking behavior is positively associated with CSR performance. Further analysis shows that this positive relation is more pronounced for firms with less resources access difficulty. These results indicate that CSR activities help firms obtain resources so that increase firms’ risk bearing capacity. The empirical results of this paper contribute to the current research on the determinants of corporate risk-taking and add to the literature on the economic consequences of CSR.