How Firms Should React to Social Misconduct: Compensation Strategies and Performance Implications

该研究项目旨在为企业如何在社会不当行为发生后制定企业社会责任(CSR)行动以补偿社会，从而恢复公司的社会地位和社会合法性提供见解。研究项目的以下目标有助于阐述这一问题。首先，该项目将确定企业可以用来补偿社会不当行为的社会合意策略。其次，该项目将对这些战略是否有助于保护公司价值进行实证测试。第三，该项目将确定并经验性地测试改变薪酬战略影响的背景因素。该项目与企业社会责任研究高度相关，因为之前的研究集中在与象征性沟通相关的行动上，但没有具体说明企业应如何在不损害公司价值的情况下，利用长期实质性的企业社会责任行动来恢复社会不当行为。该项目的结果实际上也很重要，因为几乎所有追求社会责任倡议的公司都经常面临社会不当行为。可以理解的是，公司经常以企业社会责任行动来修复合法性，以回应社会不当行为。然而，这种尝试可能会给公司带来两难境地，因为针对社会不当行为的企业社会责任行动本身就是问题驱动的，往往会导致利益相关者的怀疑，从而危及公司价值。因此，公司面临的关键挑战是参与企业社会责任行动，既能有效地修复公司的社会合法性，又不会加剧社会不当行为的有害影响。研究项目的成果将帮助企业应对这一挑战，使它们能够更好地为社会做出贡献。

The research project seeks to provide insights into how firms can develop corporate social responsibility (CSR) actions that compensate society after the occurrence of social misconduct and thus rehabilitate the firm`s societal standing and social legitimacy. The following objectives of the research project help to elaborate on this question. First, the project will identify socially desirable strategies that firms can use to compensate society for social misconduct. Second, the project will test empirically whether these strategies help to safeguard firm value. Third, the project will identify and empirically test contextual factors that alter the impact of compensation strategies. The project is highly relevant for CSR research because prior studies have concentrated on symbolic communication-related actions but have not specified how firms should use long-term substantive CSR actions for rehabilitation after social misconduct without harming firm value. Results of the project are also practically important because nearly all firms that pursue social responsibility initiatives regularly face social misconduct. Understandably, firms often respond to social misconduct with CSR actions to repair legitimacy. However, this attempt may create a dilemma for firms, because CSR actions in response to social misconduct are inherently problem-driven and often lead to stakeholder suspicion, jeopardizing firm value. Consequently, the key challenge for firms is to engage in CSR actions that effectively repair the firm`s social legitimacy and do not exacerbate the deleterious effects of social misconduct. Findings of the research project will help firms to meet this challenge and enable them to better contribute to society.