Research On Relation Of Corporate Social Responsibility And Corporate Value

In the modern fiercely competitive market, all walks of life can’t develop without thenatural resources, environmental resources, human resources and so on. As the socialcitizens in our country, enterprises have responsibility for the sustainable development ofthe economy and environmental resources. Therefore, studying the relation between thecorporate social responsibility and the corporate value has a positive effect onconsummating the information disclosure and improving the implementation of thecorporate social responsibility in our country and promoting the market economy and thesocial sustainable development.This paper adopts the methods of normative and empirical research. First of all, afterreading the related literature at home and abroad, this paper established the breakthroughpoints of the subject. And guided by the qualitative approach, it used the related theories toexpound the relation between them respectively from the macro, micro and hysteresisperspectives. Then according to the stakeholder theory, the corporate social responsibilitywas divided into eight dimensions for further empirical research quantifiably. And we usedthe combination weighting which adopted entropy weight approach combining with thevariable coefficient approach to establish the evaluation index system and ensure its indexweights. Then on the basis of the studying before, we put forward the correspondingresearch hypothesis, using the descriptive statistics, correlation statistics, multiple linearregression and distributed lag model regression test the correlation and hysteresis. Theresults found that the corporate social responsibility and corporate value had positivecorrelation, and fulfilling corporate social responsibility could promote the enterprisevalue and this promoting effect had certain hysteresis quality. But the enterprise value hadno significant impact on corporate social responsibility. Finally according to the empiricalresearch results, we put forward related suggestions for the enterprises to fulfill socialresponsibility in our country.