The Impact Of Spirits Culture On Enterprise Performance

Spirits Culture occupies an important position in China’s traditional culture. As a catalyst to cement friendship, the wine plays the role of communication tool in Chinese interpersonal communication. In all varieties of wine, Liquor is China’s most representative wine, to some extent, Chinese spirits culture is liquor culture. Liquor culture is a kind of social culture. Liquor, as a social tool, plays a significant role in the establishment of communication and trust between enterprises and their stakeholders, so the development of the liquor industry has great and profound influence on the construction and development of our national economy. Since entering 21 centuries, the liquor industry has gradually restored and developed, experiencing the “ten golden years.”However, the implementation of a series of anti-corruption policies, such as the eight rules of the CPC Central Committee,has a negative impact on the performance of the liquor industry after entering 2012, which leads to the development of the liquor industry facing turning point. Thus, it’s quite significant to study on the effect of liquor consumption on corporate performance and verify the social role of liquor in interpersonal communication。In this paper, taking Chinese A-share non alcoholic listed companies in years from 2005 to 2014 as research sample, we investigate the relation between liquor consumption and the non alcoholic company performance to verify the social role of liquor in interpersonal communication. This study indicates a significant positive correlation between liquor consumption and the non alcoholic company performance, which is also true no matter the state-owned enterprises or private-owned enterprises. So liquor consumption can promote the performance of the non alcoholic company, implying that liquor is instrumental to establish and maintain the relationship between businesses. Moreover, the relations between liquor consumption and the non alcoholic company performance are different in different level of competition amongst industries and different degree of market development amongst regions. The significant positive correlation between liquor consumption and the performance of the non alcoholic company is still valid in competitive industries and low market-based degree areas. There is, however, no significant positive correlation between liquor consumption and the performance of the non alcoholic company in protected industries and high market-based degree areas.