Corporate social responsibility and corporate sustainability of listed SMEs in China: the mediating role of corporate growth

Purpose This study aims to conceptually distinguish corporate growth from corporate sustainability, and on this basis, this study extends the relevant literature on corporate social responsibility (CSR) and corporate sustainability with the aim of verifying the mediating role of corporate growth between CSR and corporate sustainability. Design/methodology/approach This study uses panel regression analysis to verify the mediating role of corporate growth in CSR and corporate sustainability using a sample of 2,069 observations from 585 listed small and medium-sized enterprises (SMEs) in China over the period from 2015 to 2019. Findings The results show that CSR is positively related to SME sustainability, while corporate growth mediates the relationship between CSR and SME sustainability. Originality/value This study contributes to existing literature by clearly distinguishing corporate growth from corporate sustainability and innovatively demonstrating that corporate growth, through CSR fulfillment, is a crucial process for SMEs to achieve corporate sustainability.