中文摘要：

本文从合法性的视角出发，对影响企业可持续发展战略的因素、企业可持续发展战略选择行为及绩效之间的关系进行了研究分析．构建了一个合法性对企业可持续发展战略及绩效的影响模型。通过采集企业经营数据、对来自权威媒体报道进行大规模的内容分析等方法获取31家公司2004--2008年数据．利用面板数据的多元回归分析等方法，进行了实证研究。结果是，行业监管约束、客户、产业上下游、社会公众和媒体的要求等，均对企业可持续发展绩效有显著影响，且企业可持续发展战略选择发挥着中介作用；而企业规模、财务表现不一定显著影响电信运营企业的可持续发展。这说明企业在获得合法性地位时．主要考虑社会的适应性。

英文摘要：

From the perspective of legitimacy, this article analyzed the relationship among the influencing factors of firm＇s sustainable development strategy, firm＇s selective behavior for sustainable development strategy, and firm performance. Based on the relationship we analyzed, we set up a theoretical model. By collecting the operating-data as well as using content analysis, we implemented multiple regression analysis with a panel data of 31 companies from 2004 to 2008. The empirical results show that regulation, customers, industry partners, media and the public demand impact firm＇s sustainability performance significantly. Also, the choice of finn＇s sustainable development strategy mediated the above relationships. Interestingly, both firm size and financial performance are not necessarily related to firm＇s sustainable development. This shows that the main consideration of the firms is their social adaptability when they pursue legitimacy.