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

Jiawen Zhang ()
Additional contact information
Jiawen Zhang: Shandong Technology and Business University (STBU)

A chapter in Proceedings of the 2023 3rd International Conference on Financial Management and Economic Transition (FMET 2023), 2024, pp 13-20 from Springer

Abstract: 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.

Keywords: pharmaceutical companies; social responsibility; financial performance; QCA approach (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-272-9_3

Ordering information: This item can be ordered from
http://www.springer.com/9789464632729

DOI: 10.2991/978-94-6463-272-9_3

Access Statistics for this chapter

More chapters in Advances in Economics, Business and Management Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().