The Research On The Relationship Between Corporate Social Responsibility And Value Of Listed Companies In Food Industry

February 23,2014,the global fast-food chain giant " Subway " was explosed that a food additive which likes "Yoga mat" was used in baking bread, the news aroused public indignation,because people regard the well-know enterprise as a reassuring one, and this scandle makes consumers hard to believe other bands.In our own country, the negative news about the food industry is frequently,such as "the milk scandle"," the colour steamed bread "," Transgenic food " and so on,which make people call for the building of corporate social responsibility in food industry (the following expressed by CSR), so how the food industry fulfilling the social responsibility affect the enterprise value? Whether there is a causal link between the two or not? This paper attempts to analyze and discuss it.By reading a lot of literature and information materials,the paper first depictes the background and significance of the theory foundation of social responsibility,second analyce the basis theroy of social resposibility:stakeholder theory,social responsibility theory and enterprise value theory,then make the signal transmission theory as a bridge between the corporate values and corproate social responsibility.Next,paper divided the CSR into seven social responsibility indicators system from the perspective of the stakeholders in the food industry,including capital maintenance and appreciation rate,which instead corperates’responsibility to stakeholds;the cash flow ratio instead the duty to creditor;the accounts payable turnover ratio instead the duty to suplies explanatory variables,employee contribution rates instead the responsibility to employees;Main business income appreciation rate instead the duty to customers;business tax rate insteads the duty to goverment;and social contribution rate instead the duty to the society,above-mentioned rates are aslo taken as explaination variables in SPSS modles, and take the tobin Q enterprise value as a dependent variable,by using Spss software within multivariate analysis,descriptive statistics, regression analysis and correlation analysis,the result is that the value of listed companies in the food industry and corporate social responsibility present a positive correlation relationship. Article finally elaborates the suggestions about implements of the food industry companies’social responsibility.