The path selection of financial performance improvement of pharmaceutical companies under the perspective of social responsibility

─Research on linkage effect based on fsQCA method

DOI

10.2991/978-94-6463-272-9_3How to use a DOI?

Keywords

pharmaceutical companies; social responsibility; financial performance; QCA approach

Abstract

This paper uses 47 Chinese listed pharmaceutical manufacturing companies in 2019–2021 as a research sample to explore the path selection of the multidimensional linkage effect of social responsibility on pharmaceutical companies to improve their financial performance based on stakeholder theory and using the fsQCA method. It is found that: the combination of different dimensions of social responsibility can improve the financial performance of enterprises, and none of the individual dimensions of social responsibility is necessary for high financial performance; there are three different groupings that can help improve the financial performance of pharmaceutical enterprises, namely, shareholder-government-driven, shareholder-creditor-driven, and shareholder-employee-driven. employee-driven, where social responsibility to shareholders is key and there is a significant substitution effect between the social responsibility of employees and creditor and government portfolios. The findings reveal the linkage effect between the social responsibility of pharmaceutical companies and different stakeholders and can give relevant suggestions to pharmaceutical companies, i.e., to reasonably allocate social responsibility among different stakeholders according to their own situations to achieve the improvement of financial performance of pharmaceutical companies.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Jiawen Zhang
PY  - 2023
DA  - 2023/10/15
TI  - The path selection of financial performance improvement of pharmaceutical companies under the perspective of social responsibility
BT  - Proceedings of the 2023 3rd International Conference on Financial Management and Economic Transition (FMET 2023)
PB  - Atlantis Press
SP  - 13
EP  - 20
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-272-9_3
DO  - 10.2991/978-94-6463-272-9_3
ID  - Zhang2023
ER  -