Study On The Relationship Between Corporation Social Responsibility And Corporate Value

With the deepening economic globalization and rapid development of China’s economy, profit pursuit is accompanied by workers’ rights, product quality, environmental pollution and many other issues, corporate social responsibility has become an irresistible trend.The paper tries to construct corporate social responsibility evaluation system from the stakeholder theory perspective, and attempt to use this system to answer the relationship between corporate social responsibility and company value. In order to achieve the purpose of enhancing corporate social responsibility awareness and encourage enterprises fulfill social responsibility actively.Firstly, the paper described the background and significance of the study, reviewed corporate social responsibility, company value and stakeholder theory, summarized the literature of the relationship between corporate social responsibility and company value. Secondly, established corporate social responsibility evaluation system from shareholders, employees, creditors, customers, suppliers, government, environment and community. And analyzed impact on the company value which takes action to fulfill responsibility theoretically. Then, using 492 samples companies as the basis and SPSS17.0 for data analysis, to explore the relationship between company value and corporate social responsibility from the stakeholder theory perspective.Through the study we found: Enterprises fulfill their social responsibility to different stakeholders and relationship is different. The most obvious relationship are fulfill responsibility to shareholders, employees and government; secondly are consumers and environment fulfillment; the last are creditors, suppliers and community. The paper proposed policy recommendations on the basis of empirical study conclusion.