Studying the relationship between the business environment and the competitiveness of start-ups can help enterprises develop entrepreneurial opportunities to support and promote their survival and development. Based on the perspective of entrepreneurial ecosystem and resource integration theory, this study uses linear
Reports of social responsibilities of listed pharmaceutical enterprises in China from 2014 to 2018 were selected as examples to analyze the impact of financial performance on CSR undertaken by listed pharmaceutical enterprises under the background of enterprise heterogeneity. For enterprises that display homogeneity, listed pharmaceutical enterprises richer in money have a nonlinear relationship compared against social responsibilities; in contrast, for enterprise proprietorship demonstrating heterogeneity, state‐owned listed pharmaceutical enterprises (SOEs) better in financial performance are more willing to undertake CSR, while among non‐state‐owned companies (non‐SOEs), financial performance shows an inverted “U” nonlinear relationship with CSR.
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