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<p>At present, corporate environmental social responsibility is increasingly attracting attention from all sectors of society as an important indicator for measuring the sustainable development capabilities of enterprises. However, enterprises inevitably encounter various challenges and difficulties during their operations, leading to poor performance and subsequently facing various types of negative performance feedback, including the scope of negative performance feedback (SNPF) and the duration of negative performance feedback (DNPF). How SNPF and DNPF affect CESR and whether there are differences in such impacts have become issues worthy of in-depth research. Based on the theory of corporate behavior, this paper takes Chinese listed companies (data from 2008 to 2019) as the research sample to explore the differentiated impacts of SNPF and DNPF on the fulfillment of corporate environmental social responsibility, and examines the moderating effects of TMT tenure and CEO duality. The mediating roles of risk-taking and managerial myopia are also explored. Through empirical research and theoretical analysis, we find that SNPF promotes the fulfillment of environmental social responsibility by enterprises, while DNPF inhibits it. The extension of TMT tenure weakens the promoting effect of SNPF on corporate environmental social responsibility but strengthens the inhibitory effect of DNPF on it. CEO duality enhances the positive impact of SNPF on corporate environmental social responsibility and also intensifies the inhibitory effect of DNPF on it. Further heterogeneity analysis shows that these effects differ across ownership types: in state-owned enterprises the positive effect of SNPF is more pronounced while the moderating role of CEO duality tends to weaken CESR responses, whereas in privately owned firms persistent negative performance feedback significantly reduces CESR engagement. This study not only expands the research framework in areas such as corporate strategic management and environmental social responsibility, but also provides certain implications for enterprise management practices and policy-making.</p>

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Beyond the red ink: how firms reconcile performance failures with environmental social responsibility

  • 期刊论文

  • 出版模式：

    开放获取

  • 发表日期：

    2026年7月8日

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  • Shiyi Tang,
  • Shan Li,
  • Zhen Luo,
  • Jiawei Chen,
  • Xiaoshang Deng,
  • Li Zheng

摘要

At present, corporate environmental social responsibility is increasingly attracting attention from all sectors of society as an important indicator for measuring the sustainable development capabilities of enterprises. However, enterprises inevitably encounter various challenges and difficulties during their operations, leading to poor performance and subsequently facing various types of negative performance feedback, including the scope of negative performance feedback (SNPF) and the duration of negative performance feedback (DNPF). How SNPF and DNPF affect CESR and whether there are differences in such impacts have become issues worthy of in-depth research. Based on the theory of corporate behavior, this paper takes Chinese listed companies (data from 2008 to 2019) as the research sample to explore the differentiated impacts of SNPF and DNPF on the fulfillment of corporate environmental social responsibility, and examines the moderating effects of TMT tenure and CEO duality. The mediating roles of risk-taking and managerial myopia are also explored. Through empirical research and theoretical analysis, we find that SNPF promotes the fulfillment of environmental social responsibility by enterprises, while DNPF inhibits it. The extension of TMT tenure weakens the promoting effect of SNPF on corporate environmental social responsibility but strengthens the inhibitory effect of DNPF on it. CEO duality enhances the positive impact of SNPF on corporate environmental social responsibility and also intensifies the inhibitory effect of DNPF on it. Further heterogeneity analysis shows that these effects differ across ownership types: in state-owned enterprises the positive effect of SNPF is more pronounced while the moderating role of CEO duality tends to weaken CESR responses, whereas in privately owned firms persistent negative performance feedback significantly reduces CESR engagement. This study not only expands the research framework in areas such as corporate strategic management and environmental social responsibility, but also provides certain implications for enterprise management practices and policy-making.