Shaping the Path to Sustainable Responsibility: Political Connection and Corporate Social Responsibility Implementation

As important components of sustainable business strategies, political connection (PC) and corporate social responsibility (CSR) have attracted significant scholarly attention. However, few studies have systematically explored the influence mechanism of PC on CSR implementation from the perspective of corporate self-serving motivation. Based on signaling theory and resource dependence theory, using data of Chinese A-share listed companies from 2010 to 2019, with a total sample of 20 988, the impact mechanism of PC on CSR implementation were empirically analyzed by employing the two-way fixed effects model. The findings indicate that executive PC positively affects CSR implementation; financial resources play a partial mediator role; under conditions of high economic policy uncertainty, the mediating effect of financial resources is weakened. The obtained conclusions enrich the literature on PC and business strategy and offer practical and policy implications for improving institutional design, optimizing resource allocation, and strengthening CSR implementation.