An Empirical Study On The Relation Between Corporate Social Responsibility And Management Performance Based On Enterprose Life Cycle

There has been a growing concern among the academia on the relation between corporate social responsibility and management performance in recent years but still without a unanimous result. Many theories and empirical evidence lead to three major opinions, that is, positive correlation, negative correlation and irrelevance. This paper initiatively applies the theory of enterprise life cycle into the discussion of the uncertain relation, and refines the index system of corporate social responsibility on the basis of stakeholder theory. Then, it comes up with analysis on the relation between corporate social responsibility and management performance through dually refined enterprise life cycle and corporate social responsibility index with conclusions and suggestions.This paper uses the data of listed Chinese companies in pharmaceutical, health and food of the recent decade, in terms order to provide a more representative sample of large scale, high sensibility and authority and make the result more effective and accurate. In terms of methodology, principal component analysis and stakeholder theory are successively adopted in defining the index of enterprise life cycle and corporate social responsibility.Then comes the result with data processing: whatever the life cycle is, companies should fulfill their social responsibility actively for a more rapid growth in management performance. More specifically, at growth stage, companies should pay more attention to the fulfillment of the investors’ responsibility while at mature stage they ought to emphasize more on the responsibility for their employees and creditors, and as for the phase of decline, what companies should notice is their duty for the government. All the responsibilities mentioned above are the most influential one at the corresponding stage respectively. Due to the limitation of the data, this paper hasn’t deeply studied the corporate social responsibility in terms of society or law, while still hoping to project a new method or perspective for future study on this topic.