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<p>As climate change presents significant risks to socio-economic development, enterprises are encouraged to fulfill their social responsibility in response to the climate crisis. However, the specific impact of climate risk on corporate social responsibility performance (CSRP) remains unclear. Using panel data of 1,919 Chinese A-share listed companies from 2010 to 2021, this study explores how climate risk influences CSRP and the mechanisms involved based on institutional theory and dynamic capabilities theory. The results reveal that climate risk has a significantly positive impact on CSRP. Regulatory pressure significantly weakens this relationship owing to the crowding-out effect, peer pressure strengthens it, and media pressure has no significant effect. In terms of transmission mechanisms, climate risk enhances CSRP by strengthening green management and improving internal control, whereas technological innovation has not yet played a significant mediating role. Heterogeneity analysis indicates that climate risk exerts a stronger positive effect on CSRP for firms with higher asset management efficiency, higher resource allocation efficiency, or those not in double-high industries. This study provides evidence that the impact of climate risk on CSRP is shaped by the synergistic interaction among external institutional pressures, internal dynamic capabilities, and firm characteristics. The findings provide important implications for strategically responding to climate risks and improving CSRP.</p>

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Climate risk and corporate social responsibility performance: a dual perspective of institutional pressure and dynamic capabilities

  • 期刊论文

  • 发表日期：

    2026年7月13日

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  • Xiujuan Gong

摘要

As climate change presents significant risks to socio-economic development, enterprises are encouraged to fulfill their social responsibility in response to the climate crisis. However, the specific impact of climate risk on corporate social responsibility performance (CSRP) remains unclear. Using panel data of 1,919 Chinese A-share listed companies from 2010 to 2021, this study explores how climate risk influences CSRP and the mechanisms involved based on institutional theory and dynamic capabilities theory. The results reveal that climate risk has a significantly positive impact on CSRP. Regulatory pressure significantly weakens this relationship owing to the crowding-out effect, peer pressure strengthens it, and media pressure has no significant effect. In terms of transmission mechanisms, climate risk enhances CSRP by strengthening green management and improving internal control, whereas technological innovation has not yet played a significant mediating role. Heterogeneity analysis indicates that climate risk exerts a stronger positive effect on CSRP for firms with higher asset management efficiency, higher resource allocation efficiency, or those not in double-high industries. This study provides evidence that the impact of climate risk on CSRP is shaped by the synergistic interaction among external institutional pressures, internal dynamic capabilities, and firm characteristics. The findings provide important implications for strategically responding to climate risks and improving CSRP.