Study On The Paths To Fulfill Social Responsibility Of Private Corporation

Recent years in China,with the rapid development of private economy,the issue of private enterprises'fulfilling their social responsibilities has become an increasing concern.A current phenomenon is that some private enterprises have less sense of social responsibilities and their behaviors of ignoring their social responsibilities or even damaging public interests have occurred frequently.So this paper,with a thorough analysis of the whole formation process of China's private economy and its development as the basis,combining with the characteristics of social responsibilities,tends to make an exploration of the routes for private enterprises to fulfill their social responsibilities from the perspective of corporate governance,aiming to make a promotion to the actual practice of china's private enterprises' fulfillment of their social responsibilities.In the field of corporate social responsibilities,years of theoretical researches have yielded fruitful results.But most of these previous studies are focused on exploring necessities of fulfilling corporate social responsibilities or certain related information disclosure.Rarely can we see researches exploring the routes of the corporate social duties fulfilling and even less can we find classification researches on enterprises of different nature.So this paper takes the private enterprises as the research subjects and theory of stakeholder as the theoretical tool,demonstrates the internal logic between social responsibilities and corporate governance,summarizes the routes for private enterprises to fulfill their social responsibilities;and by means of an empirical study on the influencing factors of the duty fulfilling,derives certain effective routes for this fulfillment;and puts forward the essential measures to be taken in their both internal and external management to ensure the fulfillment.In the whole research,mainly three methods of literature research,empirical study and case study are applied as follows:First,on the basis of a literature review,both concepts of enterprises' social responsibilities and private enterprises' social responsibilities fulfilling routes are accurately defined;and the internal mechanism of private enterprises' fulfilling of their social responsibilities is clearly elaborated.In accordance with the corporate governance theory and stakeholder theory,the internal logic is analyzed between enterprises'responsibilities,corporate governance and stakeholders.And then the characteristics and potential problems are described,which may lead to a general picture of the current situation of Chinese private enterprises'fulfilling of their social responsibilities.An analysis and exploration on the route of social responsibilities fulfilling is made with reference to MAW model and certain theoretical researches on social responsibilities fulfilling and the current fulfilling situation of social responsibilities being considered..Three routes are summarized as follows:1)from a macro perspective,social responsibilities should be integrated with corporate strategies which is quite beneficial to their long-term sustainable development;2)from the microscopic perspectives,the corporate social responsibilities should be connected with and reflected in the process of their routine management;3)from the external point of view,enterprises may carry on their social duties through active participation in charities.Among the above three,the first two routes are provided from the enterprises' internal management perspective,which aim to fulfill both internal and external social duties in MAW model while the third route reflects the fulfillment of the public social duties in the model.Based on the theoretical analysis of the above three routes,an empirical research is carried out on the three routes and related model is established.Data of the research is mainly collected through a questionnaire which is composed of three parts.The first part tries to investigate private enterprises'sense of social responsibilities and their willingness to fulfill them.And the results to this part indicates that those private enterprises generally have certain sense of social responsibilities but not sufficient.The rest two parts are designed to investigate the five influencing factors to their fulfilling of the social responsibilities(i.e.managers' sense of social responsibilities,compulsive force of laws and regulations,supervision of the public opinion,ethics of businesses,pursuit for competitiveness)and the routes of their fulfillment,which are scored by likert scale and given reliability and validity tests.An regression model was established with the five influencing factors as its explanatory variables and the routes of fulfillment as variables being explained,which is further tested by a structural equation model.The research shows that the influences of the factors through the three routes don't agree and negative factors are more influential than those active ones:managers' sense of responsibilities may obviously influence the effects;compulsive power of laws and regulations may give influence through the micro-level routine management;but the influence of ethics and competiveness pursuing is not obvious.A case study on Suning Appliance was taken to observe its specific behaviors in fulfilling social responsibilities,which indicates again that private enterprises may fulfill their social duties through the three routes and win benefits for their stakeholders meanwhile.At the end of the paper,from the corporate governance perspective,some suggestions are provided to those private enterprises on their fulfilling of the social responsibilities.Conclusions of this paper may be drawn as follows:1)private enterprises should take their responsibilities which is good for their sustainable development;2)there are mainly three routes for private enterprises to fulfill their social responsibilities;3)different influencing factors may give different influences in strength to the private enterprises in fulfilling their social responsibilities and it will be better promoted if more appropriate routes are taken.