我国企业社会责任地履行与财务绩效关系地实证研究.pdfVIP

英文提要 我国企业社会责任的履行与财务绩效关系的实证研究 An Empirical Research on Relationship between the Fulfillment of Corporate Social Responsibility (CSR) and Financial Performance in China Abstract In recent years, with the rapid development of Chinas economy, some social issues, such as environment destruction, ecological deterioration, safety and health problem and other social problems, are emerging. The lack of social responsibility not only affects the long-term development of the enterprise itself, but also threatened the social harmony and stability. In this paper, the research on relationship between the fulfillment of CSR and financial performance will provide evidence to encourage enterprises to take the social responsibilities. However, because of different inherent property rights of state-owned enterprises and private enterprises, social responsibility driving factors for them are very different which results in different effects in financial performance. Therefore, based on the nature of property rights, this paper further analyses different effects on the financial performance of state-owned enterprises and private enterprises. Firstly, this paper summarizes relevant researches to define the content of CSR. Then, according to stakeholder theory, contract theory, transaction cost theory and signal transmission theory, the author analyses how the fulfillment of CSR affects corporate financial performance, while according to the property rights theory, different effects on financial performance of enterprises in different nature are disclosed. Assumptions are made based on the above theoretical analysis. Thirdly, by empirical test of the full samples, the results show that : the fulfi