| An Empirical Study of the relationship between corporate social responsibility(CSR)and financial performance has been an important part in the field of social responsibility Research,which aims to provide favorable empirical evidences for CSR thought.Since the 1970s,despite there are numerous related research,but the conclusion is contradictory.Large number of empirical studies has focused on testing the direct relationship between CSR and corporate financial performance,ignoring other important factors that may exist in the relationship between the two,also led to inconsistent and unreliable conclusions.Response of stakeholders' behavior is the key to the realization of the value of CSR.The premise of stakeholders' response to CSR activity is the perception of CSR level,while the level and'difference of the perception are largely dependent on the differences of CSR information acquired.How does the disclosure and dissemination of CSR information affect the perception of stakeholders on the level of CSR,and then change their assessment for corporate reputation?Does CSR information affect directly Stakeholders' Behavioral Intention or affect indirectly it through the change of corporate reputation evaluation?What other factors will play an intermediary or mediating effect in this process?The above questions are the focus of this study.Although many researches have been helpful to understand the influence of CSR activities on the stakeholders,but there is still a lack of research on response mechanism and process about the main stakeholders such as consumers,job seekers and investors to CSR activities.This study focuses on the process and the intermediate path of realizing the value of CSR,and proposes that CSR information,corporate reputation and stakeholders' behaviorial intention are the middle variables in the process of realizing the value of CSR.Taking "CSR information,corporate reputation and stakeholders' behavioral intention”as a main line of the research,the paper investigates the relationship between CSR information,corporate reputation and stakeholders' behaviorial intention in pairwise,the mediating effect of corporate reputation in the relationship between CSR information and stakeholders' behavior intention,and the moderating effect of CSR Value Cognition?credibility and concern of CSR information in the relationship between CSR information and corporate reputation,stakeholder behavior intention.The study is an exploratory study.Firstly,on the basis of the literature review,the paper constructs a conceptual model of the relationship between CSR information,corporate reputation and stakeholders' behavior intention.Then,using in-depth interviews,questionnaires and experimental research methods to obtain the data needed for the research.Finally,the use of SPSS statistical software for analysising survey data,verified our proposed conceptual model and related assumptions.By theoretical and empirical research,this paper draws the following conclusions:1.CSR information has a direct impact on stakeholders' behaviorial intentions.Can CSR abilities effectively enhance enterprise value or not mainly depends on whether the stakeholders can use CSR information as a reference basis for their decision-making,and take the action to enhance enterprise value.The study results support the research hypothesis that CSR information has direct impact on purchase intention,job pursuit intention and investment intention.This also shows that the disclosure and dissemination of CSR information has played a crucial role after Enterprises undertake actively social responsibility.2.CSR information has a direct impact on corporate reputation.The results show CSR information can influence and change stakeholders' perception and evaluation for the businesse,thereby affecting their evaluation for corporate reputation.3.Corporate reputation has a direct impact on stakeholder behavioral intention.The empirical results show that corporate reputation has a direct impact on purchase intention?job pursuit intention and investment intention.As a signal to show its own products or services,Good corporate reputation has a significant attraction for stakeholders,especially for high qualitied stakeholders.4.Corporate reputation has a partial intermediary role in the relationship between CSR information and stakeholders' behaviorial intention.The influence degree and direction of CSR information on purchase,job hunting and investment intention of stakeholders are affected partly by corporate reputation.5.CSR Value Cognition and credibility of CSR information have a moderating effect in the relationship between CSR information and corporate reputation,stakeholder behavior intention.The empirical results of this study showed that consumers,job seekers and investors as the important stakeholders of the enterprise have a demand for CSR information,and can actively respond to CSR information.The influence of CSR information on stakeholders' behaviorial intention is an intermediate process of CSR activities to enterprise value.CSR information can directly influence consumers' purchase intention,job seekers' intention of job searching and investors' investment intention.CSR information also plays an important role partly by corporate reputation as an intermediary variable.The academic contributions and innovations of this study are mainly reflected in the following three points:First,taking CSR information as the breakthrough point to study CSR response process;Second,constructs a theoretical model of the relationship between CSR information,corporate reputation and stakeholders' behaviorial intention,and provides a new theoretical framework for the study of CSR value;Third,to explore the effect of corporate social responsibility information disclosure from the new perspective of stakeholders' behavior intention.Meanwhile,the conclusions of this study also have some practical significance.It is helpfule to change wrong cognition of enterprise managers about CSR value and provides a useful theoretical guidance for improving disclosure and dissemination of CSR information,and increasing the level of corporate reputation and stakeholder relationship management... |
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