An Empirical Study Of Corporate Social Responsibility And Corporate Value

The deepening of the economic globalization brings about the transformation of the development of enterprises.Enterprises exposed various of problems in the pursuit of its rapid development.From “the San Lu powder events” to “the explosion of Tian Jin Bin Hai new area,these social events ring alarm bells and corporate social responsibility(CSR)has sparked the widespread attention to people.Enterprise is more and more realized to perform the social responsibility.It play a important role in shaping corporate image so that people will like the enterprise.The stable and healthy development of the enterprise depends on a good social environment.Enterprises actively fulfill the social responsibility is helpful to create a good environment for the enterprises' development,as well as to improve enterprise economic efficiency and promote enterprise grandness.Compared with western,the research about CSR in China starts later.The fulfillment of CSR and disclosure still exist many problems.It needs to be further perfected.In this paper,through theoretical analysis and empirical test on the relationship between the CSR and corporate value,it is concluded that the CSR and there is an obvious correlation between enterprise value.Based on the perspective of stakeholders,the enterprises of different stakeholders to fulfill its social responsibility and the relationship between corporate value differences.Enterprises for creditors,shareholders and the government's social responsibility and corporate value in there is a statistically significant positive correlation and married,and put forward correct understanding on the basis of social responsibility,such like improve the social responsibility disclosure system and supervision mechanism,balance stakeholders advice.First of all,based on the social responsibility of attention under the background of deepening,there is a question that if it has a relationship between corporate social responsibility and corporate value and what is the relationship.Then review and summarize the relation from the theory.It based on the stakeholder theory to divide the social responsibility of enterprises for the enterprise to creditors,suppliers,shareholders,customers,government and employees from six aspects,and theoretically analysis enterprise performance on various aspects of the relationship between CSR and corporate value.Secondly,this article from the perspective of the industry,the development of manufacturing industry listed companies in Anhui province and to fulfill social responsibility present situation,existing problems and reasons are analyzed.Inmanufacturing the financial data of listed companies in Anhui province as the research object,it selects financial indicators to measure of CSR and corporate value and uses regression analysis method.The enterprise to creditors,suppliers,shareholders,customers,government and social responsibility of the staff with the relationship between the enterprise value has carried on the empirical analysis.The third,from the perspective of the results of empirical research,there are significant correlation between enterprises of different objects to perform the social responsibility of the differences and the correlation of enterprise value.Corporate social responsibility and enterprise relationship value is affected by their own characteristics.Finally,according to the research conclusion to corporate social responsibility and performance of the targeted Suggestions,there are some advices,such as making enterprise correctly understand the relationship between CSR and corporate value,strengthening enterprise social responsibility consciousness,standardizing corporate social responsibility disclosure system,and sums up the innovation and deficiency of this article.