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Corporate Social Responsibility and Organizational Resilience to COVID-19 Crisis: An Empirical Study of Chinese Firms
- Source :
- Sustainability, Vol 12, Iss 8970, p 8970 (2020), Sustainability, Volume 12, Issue 21
- Publication Year :
- 2020
- Publisher :
- MDPI AG, 2020.
-
Abstract
- Resilience captures firm capability to adjust to and recover from unexpected shocks in the environment. Being latent and path-dependent, the manifestation of organizational resilience is hard to be directly measured. This article assesses organizational resilience of firms in the context of the COVID-19 pandemic with pre-shock corporate social responsibility (CSR) performance as a predictor that positively influences the level of organizational resilience to the external shock caused by the pandemic. We develop three theoretical mechanisms based on stakeholder theory, resource-based theory, reputation perspective and means-end chain theory to explain how CSR fulfillment in the past could help firms maintain stability to adapt to and react flexibly to recover from the crisis. We examine the relationship in the context of the systemic shock caused by COVID-19, using a sample of 1597 listed firms in China during the time window from 20 January 2020 to 10 June 2020. We find that companies with higher CSR performance before the shock will experience fewer losses and will take a shorter time to recover from the attack.
- Subjects :
- media_common.quotation_subject
Geography, Planning and Development
TJ807-830
Context (language use)
Management, Monitoring, Policy and Law
TD194-195
Renewable energy sources
Empirical research
0502 economics and business
GE1-350
Resilience (network)
Stakeholder theory
Industrial organization
media_common
corporate social responsibility
Environmental effects of industries and plants
Renewable Energy, Sustainability and the Environment
stakeholder theory
organizational resilience
05 social sciences
COVID-19
Building and Construction
Environmental sciences
Shock (economics)
Corporate social responsibility
050211 marketing
Business
Systemic shock
050203 business & management
Reputation
Subjects
Details
- Language :
- English
- ISSN :
- 20711050
- Volume :
- 12
- Issue :
- 8970
- Database :
- OpenAIRE
- Journal :
- Sustainability
- Accession number :
- edsair.doi.dedup.....958e5ab6bf664c7c39de6a1f0e1d95d4