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The influence of corporate social responsibilities on sustainable financial performance: Mediating role of shared vision capabilities and moderating role of entrepreneurship

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  • Wenbo Luo
  • Chuan Zhang
  • Minxin Li

Abstract

This study examined the roles of economic, social, and environmental proactive corporate social responsibility (CSR) on sustainable financial performance among small and medium‐sized enterprises (SMEs) in China. The study also explored the moderating role of entrepreneurship and mediating role of shared vision capabilities in the relationships between economic, social, and environmental proactive CSR and sustainable financial performance for SMEs in China. This quantitative study used questionnaires to collect data from respondents. The PLS‐SEM method was used to analyse a sample of 490 Chinese SMEs in the manufacturing sector. The results indicated that economic, social, and environmental proactive CSR were positively associated with sustainable financial performance. The results also showed that shared vision capabilities positively mediated the relationships between economic, social, and environmental proactive CSR and sustainable financial performance. Entrepreneurship significantly moderated the relationships between economic and social proactive CSR and sustainable financial performance. The findings of this study are suitable for policymakers when developing policies related to CSR, entrepreneurship, and sustainable financial performance.

Suggested Citation

  • Wenbo Luo & Chuan Zhang & Minxin Li, 2022. "The influence of corporate social responsibilities on sustainable financial performance: Mediating role of shared vision capabilities and moderating role of entrepreneurship," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1266-1282, September.
    • Handle: RePEc:wly:corsem:v:29:y:2022:i:5:p:1266-1282
    DOI: 10.1002/csr.2268
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    2. Junaid Aftab & Nabila Abid & Huma Sarwar & Anam Amin & Mahsa Abedini & Monica Veneziani, 2024. "Does corporate social responsibility drive financial performance? Exploring the significance of green innovation, green dynamic capabilities, and perceived environmental volatility," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 1634-1653, May.
    3. Huawei Tian, 2023. "Does consumer social responsibility augment corporate social responsibility: A reciprocal analysis of external stakeholder from stakeholder theory perspective," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(2), pages 968-978, March.

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