Food And Beverage Companies Corporate Social Responsibility And Corporate Value Correlation Study

In recent years, lacking of social responsibility incidents triggered endless, especially food and beverage safety problems, such as Pepsi caramel colorings, Alcoholic wine events, Lipton tea event, problem milk powder and other major food events has been paid people’s attention. Business managers realize that except profit, we must also comply with business ethics, commitment to shareholders, employees, suppliers, customers, government and public social responsibility. Meanwhile, managers are able to realize social responsibility:to improve the quality of decision making, facilitate risk identification and control; access to public trust and good reputation; balanced stakeholder relations; stimulate innovation consciousness; enhance staff security, loyalty and moral standards; strengthen the reliability and fairness of the transaction, to curb corruption; advocate sustainable natural resources and environmental services; increased provision of public goods. These are not only beneficial to establish a good corporate image, but also help to enhance their potential competitive advantage. The Shenzhen Stock Exchange released "the guidelines listed corporate social responsibility " in2006, the Shanghai Stock Exchange in2008published " Guidelines on Environmental Information Disclosure of Listed Companies " that listed companies should actively fulfill their social responsibility, voluntary disclosure of social responsibility report. Chinese scholars in the study of corporate social responsibility also has achieved progress, but because of the importance of social responsibility rather late, social responsibility and value of the business enterprises to fulfill more immature. In this paper, taking food and beverage to our listed companies for example, we study the correlation between the fulfillment of corporate social responsibility and corporate value. It has theoretical and practical significance.This article includes the following five parts:The first chapter is the introduction; it elaborates the background and significance of this, domestic references, research content and research methods. The second chapter is mainly based on studies of domestic corporate social responsibility defines the concept, while the theory of corporate social responsibility, corporate value theory, as well as the correlation between impact analyzes, laid the theoretical foundation for further empirical research. The third chapter is on corporate social responsibility and corporate value of the empirical design. This section of corporate social responsibility disclosure based on the statistical analysis of the situation will be divided into six dimensions of social responsibility:shareholders, employees, suppliers, customers, government and the public, and set up six aspects of financial indicators, but also increase the enterprise the size of the control variables as indicators of empirical research. The fourth chapter is the empirical analysis. This chapter using Shanghai and Shenzhen A-share listed52food and beverage industry’s data during2011and2012for the study sample, the use of descriptive statistical analysis, correlation analysis, multiple regression analysis and other methods for setting the research hypothesis test to study the relationship between corporate social responsibility and corporate value. The fifth chapter analyzes the findings and policy recommendations. According to the data in the chapter findings, concludes drawn positive correlation between corporate social responsibility and corporate value. Finally, the status of empirical research and social responsibility to fulfill, and proposed to accelerate the construction of corporate social responsibility feasibility proposal.