Research On Corporate Governance, Social Responsibility And Corporate Competitiveness

In recent years, corporate social responsibilities have become an increasing emphasis by business and management scholars. Therefore as an important component of social economy, corporations could no longer regard the profits as their only target and ignore the interests of other stakeholders during the process of in the use of social resource to seek their own development. Social responsibility initiative will not only help the enterprises to obtain long-term competitiveness, achieve the sustained and sound development, but also has far-reaching impact and significance on progress of the entire society.In addition, the standard corporate governance structure is an important guarantee for the effective functioning of the modern corporation. Though its academic research has made many great achievements, corporate governance structure from the perspective of social responsibility is also rare. Since 1990s, social responsibility has become an important component of corporate competitiveness along with widespread recognition and support of the community. And there is an inherent logic among the corporate governance, social responsibility and corporate competitiveness. Therefore, it has important theoretical and practical significance on the study and revealing this relationship, meanwhile paying attention to the role of the social responsibility in the process that the corporate governance impacts on the corporate competitiveness.This paper research on corporate governance, social responsibility and corporate competitiveness based on the samples of 1839 listed companies of Shanghai Stock Exchange A share from 2006 to 2008. The results show that:corporate governance has significant effects on social responsibility, meanwhile social responsibility has significant effects on corporate competitiveness and it plays a significant role between the other two. In addition, the current performance of social responsibility and the current financial performance have negative correlation; the early performance of social responsibility and the current financial performance have significant positive correlation. This indicates that it has a significant time lag characteristic for the reaction of the enterprise value to social responsibility.