Organizational slacks and corporate social performance of listed companies: The role of state-owned holding

摘要

Based on dichotomy, we depart from the heated debate on the relationship between organizational slacks and corporate financial performance, focus on the relationship between organizational slacks and corporate social performance. This article is both a qualitative and quantitative one. Applying resource based view, industrial organization theory, and institutional theories, based on the empirical study of 233 Chinese listed companies, we draw out conclusions as follow: in the context of transition economy as China, listed companies' unabsorbed slacks are positive related to corporate social performance significantly; while absorbed slacks are negative related to corporate social performance significantly. Among these relationships, state-owned holding plays an positive moderating role, thus, it enhance the positive relationship between unabsorbed slacks and corporate social performance, and weaken the negative relationship between unabsorbed slacks and corporate social performance. We also explore the role of state-owned holding. We discuss the interaction between state-owned holding and organizational slacks, which make contributions to organizational efficiency- performance relationship study in transition economy. This article is the first one to test the relationship between organizational slacks and corporate social performances, and it open the new era in this area for further studies.