Research On The Influence Of Corporate Social Responsibility Performance Of Systemic Risk Sensitivity

With the development and improvement of people’s living standards and the national economy, as a social system, the enterprise is not just in terms of profits for the purpose as an economic organization, but also needs to be considered as socially responsible actor. Because of lacking of corporate social responsibility various problems arising from all kinds of news media exposure abound. Melamine incident, clenbuterol event, fake vaccine incident and other incidents of harm to society caused by the enterprise itself. More and more companies are beginning to realize, social responsibility initiative is to create and enhance the corporate image, access to capital, an effective way to enhance the competitiveness of enterprises. But there are still many companies believe that corporate social responsibility will increase business costs, increase the burden of enterprises, and thus not to implement corporate social responsibility behavior. How to find a balance between the two, as the important questions of many companies in the development strategy.Firstly, the theoretical aspects of the theories mentioned are briefly reviewed. Summary found: Existing research on corporate social responsibility of enterprises bear the main concern is the content of social responsibility and its impact on the role of range, etc., studies have shown that CSR significant relationship between financial performance, but the mechanisms of between not perfect. As one of the mechanisms of risk influence behavior directly related to corporate social responsibility and financial performance, it is worth further exploration.This paper used 2009--2013 listed Corporate Social Responsibility Report and annual reports of the relevant data to investigate the behavior of corporate social responsibility affect systemic risk. Through empirical testing, we found the following conclusions:(1) The higher level of enterprises to behave their social responsibility behavior, the lower the systemic risk the enterprises get. That is to say the corporate social responsibility behavior helps reduce systemic risk of the enterprise;(2) Cooperationwithnon governmental organizations, enterprises’ corporate social responsibility influence lower systemic risk harder;(3) In the other conditions remain unchanged, the market value of corporate social responsibility behavior of high systemic risk role of business is weak, small-cap socially responsible behavior of business enterprises systemic risk is stronger.This study enriches the perspective of corporate social responsibility, and has a practical significance. This paper proposed to improve the behavior of corporate social responsibility measures and recommendations aimed at strengthening the socially responsible behavior by companies to reduce systemic risk enterprises to maximize business continuity benefits, also helps companies develop strategic planning ideas update. It recommends that companies should think more about the future of corporate social responsibility strategy, and focus on reducing their systemic risks, not only to the business performance and the interests of investors, but also with the sustainable development of enterprises is closely related.