In recent years，enterprise participation in disaster has become an important phenomenon in emergency management. Why do these profit-driven entities participate in disasters？and how do they participate in disasters？Based on the stakeholder theory，we classified the corporate disaster participation into two different models：company-oriented and community-oriented. According to these two models and their evolution，the relationship between resilience at firm level and that at community level and its interaction mechanism are discussed. We found that enterprises with different modes of disaster participation have multiple ways to improve resilience both at company and community level，but the resilience of enterprises can not be transformed into community resilience naturally. Only the community-oriented enterprises can effectively promote the improvement of community resilience. This paper puts forward two models of enterprise disaster participation and analyzes their evolution paths，which provides a theoretical framework for understanding the disaster participation behavior of enterprises. It also points out the direction for the capacity building of enterprise disaster participation and the management of enterprise disaster participation at the level of public policy.