The Empirical Study Of Institutional Investors Shareholding On Corporate Social Responsibility Performance

In recent years, quality of products, food safety issues, mine accidents, arrears of wages, and environmental pollution incident of business exposed the general lack of corporate social responsibility. On the other hand, institutional investors have been in rapid development in recent years, with shareholder activism, how the market influence on corporate social responsibility through the power of institutional investors? Does institutional investors shareholding have improvement in corporate social responsibility performance, if so, this will help to improve the ability to examine the moral improvement of institutional investors, while advocating shareholder activism and socially responsible investment.This article summarizes measurement methods of social responsibility, as "Run Ling" global social responsibility rating agencies assess the content of corporate social responsibility, we re-classified in economic performance, legal performance, ethics performance and charitable performance, from low to high in four level based on corporate social responsibility model of Carroll. Using the data of listed business in 2009 and 2012 as samples, make statistical analysis of the data and descriptive correlation analysis, furthermore, through multiple regression method, first empirically test the overall institutional investors holdings impact on performance of corporate social responsibility; while dividing institutional investors into six categories:funds, brokerages, QFII, social security funds, insurance companies and trust companies, further examine the effects of various types of institutional investors on corporate social responsibility performance; finally introducing ownership concentration of Institutional investors as adjustment variables, further examination how institutional investors holdings influence on corporate social responsibility performance. Conclusion of the study showed that the overall institutional investors holdings can help enhance corporate social responsibility performance; fund holdings and brokerage holdings can also help enhance corporate social responsibility performance, QFII, social security funds, insurance companies and trust holdings did not help enhance corporate social responsibility performance; Highly concentrated in institutional ownership, the more institutional investors can help enhance corporate social responsibility performance. Finally making three recommendations:(1)To advocate shareholder activism and socially responsible investment, and promote the active participation of institutional investors in improving corporate social responsibility performance; (2)To achieve institutional investors diversify; (3) To strengthen institutional investors union or to make an alliance, conduct effective oversight to corporate social responsibility.