An Empirical Study Of The Relationship Among Ownership Concentration, The Performance Of Companies And Social Responsibility Fulfillment

As important participants, contributors, and even social economic promoters，enterprises is the indispensable element in economic development and all-round socialprogress. CSR (Corporate social responsibility, hereinafter referred to as the CSR) refers tothe enterprise when in creating profits, undertaking legal responsibility for shareholders,also have responsibility to employees, consumers, community and environment. Corporatesocial responsibility requires enterprises must go beyond profit as the only goal of thetraditional concept, lay stress on the attention on the value of people and contribution to theconsumers, environment and society in the process of production. With the development ofglobal trade and capital markets progress and the rapid development of economy in ourcountry, especially with high resource consumption of the extensive economic growthmode, China’s enterprises brought some social problem that cannot be ignored, such as"Sanlu milk powder" incident,"leather capsule","foxconn suicides" events,"Dalian oilspill" events and so on when they make use of social resources to create material wealth.Thus, corporate social responsibility issues arouse wide concern that becomes the focus ofsocial attention and one of the important problems of relevant government departments toregulate. Chinese academic institutions, Nongovernmental organizations (ngos) andinternational organizations begin to introduce study and discuss on social responsibilitywidely and systematically. The government also begins to pay close attention to corporatesocial responsibility construction work. The labor department, the ministry of commercesurvey on the construction work of China’s corporate social responsibility. In September2006, the Shenzhen stock exchange formally issued "the guidelines of listed company’ssocial responsibility "in December2007, the state-owned assets supervision andadministration commission issued “the guidance on the central enterprises to fulfill socialresponsibility "which points out the guiding ideology, basic principles, generalrequirements and the main content for the state-owned enterprises to fulfill socialresponsibility. In May2008, the Shanghai stock exchange issued “the guidelines ofenvironmental information disclosure of listed companies of Shanghai stock exchange "which suggest that the listed company disclose social responsibility report independently;In September of2010, China’s ministry of environmental protection released35th words"guideline to disclose environmental information of listed companies", especially putsforward the listed company shall publish annual environmental report of heavy pollutionindustry and disclose some aspects of the environment information like pollutant emission,environmental compliance, environment management regularly. Explore theimplementation of corporate social responsibility helps to solve the problem of employment,protecting resources and environment, and to ease the social problem of the gap betweenrich and poor people to eliminate social unrest.Based on the Shenzhen and Shanghai listed companies from2009to2011as sample,on the one hand, I study the influence of ownership concentration to the fulfillment ofcorporate social responsibility, test that whether the higher ownership concentration is, thelisted company more inclined to fulfill its social responsibility for the government,investors and employees; on the other hand,I explore the relationship between theperformance of companies and corporate social responsibility, test whether there is apositive correlation between the contribution of social responsibility to nation, investorsand public welfare undertakings of listed companies in China and the performance ofcompanies. I combine the two aspects of ownership concentration and performance ofcompanies to explore the influence of ownership concentration, the performance of listedcompanies in China to the fulfillment of corporate social responsibility comprehensively.