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Research on the Influence of Institutional Distance on Corporate

Social Responsibility of Chinese Overseas Investment Firms:
Moderating Effect Based on International Experience

1 1,2 1
SONG Lin , BIN Bin & QIAO Xiaole
(1. School of Economics and Finance, Xi蒺an Jiaotong University, Xi蒺an, Shaanxi 710061, China;
2. PICC Asset Management Company Limited, Beijing 100031, China)

Abstract: With the full implementation of “Going Global冶 strategy, the corporate social responsibility behavior of China蒺s o鄄
verseas investment firms has attracted the attention of the international community and the Chinese government. Based on the pre鄄
vious literature and research, this paper empirically analyzes the influence of institutional distance between home country and host
country on corporate social responsibility using overseas investment company of China A鄄share listed companies during the years
from 2010 to 2016, and further explores the moderating effect of international experience in an enterprise. The research finds that
all the law institutional distance, economic institutional distance and cultural institutional distance have the promoting effect on
the fulfillment of corporate social responsibility in the overseas investment firms. Moreover, with the different degree of develop鄄
ment in a host country, the influence of economic institutional distance on corporate social responsibility is “asymmetric冶. Fur鄄
thermore, the international experience of an enterprise can reduce the “disadvantage of outsiders冶 and positively moderate the ful鄄
fillment of corporate social responsibility. Finally, based on the research conclusion, it points out the following. On one hand, o鄄
verseas investment enterprises should consider the differences fully in the host country蒺s institutional environment, accumulate o鄄
verseas investment experience, and actively fulfill their social responsibilities. On the other hand, the government should learn
from the relevant norms of social responsibility in the developed countries to further promote the development of corporate social
responsibility in China.
Key Words: institutional distance; overseas investment firms; Corporate Social Responsibility (CSR); international expe鄄
rience; moderating effect

(本文责编摇 王沈南)

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