An Empirical Study On The Relationship Between Corporate Social Responsibility And Corporate Performance

Since Reform and Opening-up, with highly developing economy, Chinese corporations achieve unprecedented achievements, but the cost of the corporate development is becoming more and more. The Corporate Social Responsibility (abbreviate CSR)enters people's vision. The CSR is full of dispute from its birth, It starts relatively late in China but becomes more and more important after the accidents of"Sanlu Milk Powder","Foxconn"and"KUMHO". Do the corporations need to fulfill the CSR, and what does the fulfillment of CSR bring to the corporation? Does it increase the cost only or benefit to the long-term development? Those problems puzzle the scholars and the CEOs.On the basis of thorough analysis of existing researches, this paper probes into the CSR's basic theory and the mechanism to corporate performance. Then on the basis of interrelated researches, we set up the index and synthesize models in the light of the interest related theory. Finally, we empirically test the effect of CSR on the corporate performance, based on a sample of 60 listed manufacturing companies in China.After the test, we obtain the following conclusions:â‘ For the Monetary capital stakeholders, the fulfillments of CSR have a positive effect on the corporate performance, which is sustaining;â‘¡There is a negative relation between the social responsibility to the Human capital stakeholders and the corporate performance, but the related coefficient becomes smaller and smaller. It indicates that the worker is lack of recognition, and the corporation disclosed too little information about the staff's welfare;â‘¢For the Social capital stakeholders, it is uncertain about the effect of CSR on corporate performance. The fulfillment of the society responsibility to the government and the community have a positive effect on the corporate performance,and it has a negative effect on the corporate performance by the society responsibility to the law.â‘£For the Social ecological stakeholders, the fulfillment of their social responsibility have a positive effect on the corporate performance, and it is sustaining.At the base of empirical analysis above, corresponding suggestions and recommendations are provided. The suggestions are as follow: improve related laws and regulations and normalize the CSR; encourage the corporation to publish the CSR report actively and improve the check; make the CSR feed into the corporate growth strategy; and enhanced public supervision, and so on.