Does product market competition foster corporate social responsibility? Evidence from trade liberalization

• 成果类型: Article
• 署名作者: Flammer, Caroline
• 署名单位: Western University (University of Western Ontario)
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.2307
• 发表日期: 2015
• 页码: 1469-1485
• 关键词: corporate social responsibility; Product market competition; trade liberalization; competitive strategy; difference-in-differences

摘要

This study examines whether product market competition affects corporate social responsibility (CSR). To obtain exogenous variation in product market competition, I exploit a quasi-natural experiment provided by large import tariff reductions that occurred between 1992 and 2005 in the U.S. manufacturing sector. Using a difference-in-differences methodology, I find that domestic companies respond to tariff reductions by increasing their engagement in CSR. This finding supports the view of CSR as a competitive strategy that allows companies to differentiate themselves from their foreign rivals. Overall, my results highlight that trade liberalization is an important factor that shapes CSR practices. Copyright (c) 2014 John Wiley & Sons, Ltd.