| Unlike the basic economic behavior of the enterprise,the problem of corporate social responsibility is more realistic.Based on the understanding of the relationship between business and society in real society and the thinking of a series of complex social problems,it is caused by corporate behavior and produce.After years of development,especially the recent thirty years,corporate social responsibility in the theoretical research and practice have achieved considerable results.Compared with the research on the impact of corporate social responsibility action,the intermediate process,the way and the degree of the influence of the prerequisite factors that influence the corporate social responsibility behavior are still worthy of further studyWith the extension and expansion of the research scope of corporate governance theory,more and more experts and scholars have begun to pay attention to the influence of corporate governance elements on corporate social responsibility performance and formed a considerable number of research results,which laid a foundation for further research good foundation.In the current our country to vigorously promote the reform of state-owned enterprises of mixed ownership in the background,how to design the internal mechanism of corporate governance,state-owned enterprises can not only guarantee the realization of shouldering the national mission and responsibility after the reform of the mixed ownership,but also enhance the performance level of the corporate social responsibility,is a topic worthy of further discussion.Therefore,the core of this paper is the internal governance factors and the mechanism of the impact on the social responsibility of mixed ownership enterprises.First,this paper reviews the research results of the corporate social responsibility evaluation model,designs the corporate social responsibility evaluation index system,uses the factor analysis method to determine the weight,and calculates the social contribution of the listed companies in the state-owned non-financial industry in 2010-2015 overall ratings.Secondly,this paper reviews the related research results about the input and performance of CSR which was influenced by the corporate internal governance structure.The study found that many factors affect the performance of corporate social responsibility,with the factors of macro policy level,there are also business factors,and various elements of corporate governance on corporate social responsibility investment level and performance have a significant impact.Due to the constraints of various subjective and objective factors,as well as the limitations of research perspectives and research methods,scholars' conclusions have not reached agreement,leading to the lack of theoretical value,but also lack of persuasion,without practical significance.Therefore,this research is based on the above understanding and analysis,from the perspective of corporate governance to study its impact on the performance of corporate social responsibility,and from the study of dimensions and variables on a certain degree of improvement or innovation to enhance the systematism,comprehensive and scientific of this research,providing valuable and trustworthy evidence for corporate social responsibility related decisions.Thirdly,through the analysis of the connotation of corporate governance and related theories,this paper identifies the core function of corporate governance,and then through the analysis of the connotation of corporate social responsibility and the basic theory,summarizes the basic characteristics of corporate social responsibility.Based on the talk above,this paper found the conflict of interest in the process of corporate social responsibility decision.Corporate governance is an effective mechanism for resolving such conflicts.According to this logic,this paper constructs the basic theory framework of corporate governance that influences corporate social responsibility.Because of the lack of data related to the external governance structure of the company,this paper focuses on the impact of corporate governance on the performance of corporate responsibility from the perspective of internal governance structure.Fourthly,this paper analyzes the influence mechanism of corporate internal governance structure on corporate social responsibility,and puts forward the correlation between the internal governance structure of mixed ownership enterprises and the performance of corporate social responsibility.From the perspective of ownership structure,this paper analyzes the influence of the nature of the actual controller,mixed type,the depth of mixed subject,the restriction degree of mixed subject,ownership concentration and various types of investors(including state-owned,private,foreign investment,institutional investors and individuals)on the corporate social responsibility performance.From the structure of the board's point of view,this paper analyzes the influence of board of directors leading strategic planning committee,the scale of the independence of the board of directors,the board of directors of the status,power structure,board of directors and the general meeting of shareholders held the number of corporate social performance.From the perspective of the structure of the board of directors,the paper analyzes the influence of corporate social performance from the size of the board of directors,the independence of the board of directors,the setting situation of the strategic planning committee in the board of directors,the structure of the leadership,the number of meetings of the board of directors and the shareholders'.From the perspective of the board of supervisors,the impact of the size of the board of supervisors,the independence of the board of supervisors and the number of meetings of the board of supervisors on the social responsibility of the enterprise were analyzed respectively.Finally,from the perspective of equity incentive,the paper analyzes the impact of the board and Chairman equity incentive,the top management and general manager equity incentive and the board of supervisors and Supervisor equity incentive on corporate social responsibility performance.Fifthly,through the above theoretical analysis and research hypothesis,this paper uses the listed companies of Shanghai and Shenzhen non-financial industry as the research samples,and takes the state-owned listed companies as the research object,then selects the relevant data from 2010 to 2015 to carries on the empirical test.In the empirical research design,this study selected multiple linear regression method in order to construct the empirical model,the comprehensive score of social responsibility as explanatory variables,explanatory variables follow the theoretical analysis method and selection of measurement methods for some variables of innovation or redefine.In the empirical research design,multiple linear regression analysis tool is chosen,the corresponding empirical model is constructed and the social responsibility comprehensive score is chosen as the Explained variable,then the explanatory variable is chosen according to the actual needs of this study and follow the theoretical analysis of this paper.The method of measurement of some variables is innovated or redefined.The choice of control variables is mainly based on the existing research results of domestic and foreign scholars,selected those who have confirmed the impact of corporate social responsibility of the most significant variables,such as company size,ROA,industry type,business growth,company age,executive team characteristics,innovative environment,etc.In the empirical study of the test,this paper first describes the descriptive statistics of the sample data.Descriptive statistics further confirmed that the overall social responsibility of listed companies in China has a certain degree of growth,but still a serious shortage,and the annual fluctuations significantly.The descriptive statistical results of corporate governance variables are basically consistent with the characteristics of governance structure of listed companies in China.For example,from the ownership structure variables,although the shares of Listed Companies in China after the split share structure reform and state-owned shares reduction,but there are still high proportion of state-owned shares,non-state-owned investors instead of the low proportionSecondly,this paper analyzes the basic driving factors that affect the comprehensive score of corporate social responsibility.Among seven control variables,the regression results of firm size,performance and company age all passed the significant test of 1%levels,and the regression results of market process passed the significant test of 5%levels,but the regression results of income growth rate,average age of executives and gender characteristics of executives did not pass the significant testThird,each variable of corporate governance is introduced into the empirical model in order to test its impact on the performance of corporate social responsibility From the empirical test results,the research hypothesis of the theoretical analysis of this paper is basically consistent,or partially verified,and the inconsistent test results also given a reasonable explanationFourthly,based on the above theoretical analysis and empirical test results,the conclusions were summarized and the limitations of the research are briefly described.Based on the above conclusions,this paper puts forward policy recommendations to improve the performance of corporate social responsibility of state-owned listed companies in China from the perfect level of corporate governance mechanism of mixed ownership reform enterprisesFinally,according to the above theoretical analysis and empirical test results,this study summarizes the conclusions,and briefly introduces the limitations of the study.At last this paper puts forward some policy recommendations to improve the performance of state-owned enterprises' social responsibility,and the improvement of the corporate governance mechanism of China's independent listed companies from the mixed ownership reform. |
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