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<p>Drawing on stakeholder theory and the resource-based view, this study examines whether and under what conditions corporate social responsibility (CSR) engagement enhances firms’ operational efficiency (OE). Using a panel dataset of Chinese publicly listed firms from 2010 to 2019, we measure CSR via third-party ratings and adopt a process-level perspective by estimating OE through stochastic frontier analysis. We find that CSR engagement is positively associated with OE, and this result is robust to checks for geographic clustering, unobservable firm characteristics, and M&amp;A activities. This relationship is contingent on firm and environmental characteristics: it is amplified by strong financial conditions and high industry competition, but attenuated under high environmental uncertainty. To address endogeneity, we implement an instrumental variable approach based on local CSR intensity. By integrating CSR-performance research with operations management, this study extends current knowledge on the operational value of CSR and provides context-aware insights for managers seeking to embed social responsibility into core processes.</p>

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The role of corporate social responsibility in affecting operational efficiency: evidence from China

  • 期刊论文

  • 发表日期：

    2026年1月7日

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  • Xinrui Zhan,
  • Jingbin He,
  • Xinru Ma

摘要

Drawing on stakeholder theory and the resource-based view, this study examines whether and under what conditions corporate social responsibility (CSR) engagement enhances firms’ operational efficiency (OE). Using a panel dataset of Chinese publicly listed firms from 2010 to 2019, we measure CSR via third-party ratings and adopt a process-level perspective by estimating OE through stochastic frontier analysis. We find that CSR engagement is positively associated with OE, and this result is robust to checks for geographic clustering, unobservable firm characteristics, and M&A activities. This relationship is contingent on firm and environmental characteristics: it is amplified by strong financial conditions and high industry competition, but attenuated under high environmental uncertainty. To address endogeneity, we implement an instrumental variable approach based on local CSR intensity. By integrating CSR-performance research with operations management, this study extends current knowledge on the operational value of CSR and provides context-aware insights for managers seeking to embed social responsibility into core processes.