企业社会责任前移成为近年来研究的热点，但基于新创企业面临的两难困境，深入探究企业社会责任前移内在机理的研究稍少。本文分析了正式/非正式两种制度嵌入对新创企业公益参与的影响以及企业成长能力的调节作用，并以我国1142家新创企业为样本进行了实证研究。结果表明：（1）正式/非正式的制度嵌入对新创企业的公益参与都有显著的正向影响；（2）在转型经济下，非正式制度嵌入的影响作用更大；（3）企业创新能力对上述关系起着负向调节作用。研究结论对理解企业社会责任前移和新创企业成长具有指导意义。

The new trend of bringing corporate social responsibility has become a hot topic in CSR studies, but for the delimna of social involvement faced by new firms, the academic attention to the inherent mechanims of this trend is rather limited. Based on a sample of 1142 new Chinese private firms, this paper explores how formal and informal institutional embeddedness influences new firms’ social involvement and then investigates the moderating role of firm competence. Empirical results show that, both formal and informal institutional embeddedness promotes new firms’ participation in social issues in which the latter plays a more important role. Further research proves that innovative competence weakens this linkage. Exploring laws of new firms’ social involvement, this paper has both theoretical and practical implications for the new trend of bringing corporate social responsibility forward and new firms’ growth.