Research On The Influence Of Social Responsibility Investment On Corporate Social Responsibility

With the rise of social responsibility investment,(hereinafter referred to as SRI)some scholars began to explore the impact of SRI on CSR(coporate social responsible).In this paper,we will analysis how SRI can have influence on CSR through establish a theoretical model and empirical test the influence by using the data from china's SRI.Firstly,based on the theory of information asymmetry and signal transmission,this paper extend the model of Gollier(2014)to explore how social responsibility investment influence social responsibility in the case of information asymmetry.Secondly,combined with the theoretical model and related literature,we presents four research hypotheses.Based on the theory of stakeholder,the CSR measures were constructed by factor analysis method.Combined with the data of China Social Responsibility Investment Fund 2007-2014,the multiple regression analysis was used to test the sample enterprises.we finally get the following conclusions: Social responsibility investment fund have a positive effect on corporate social responsibility.the more social responsibility investment funds invest,the better corporate social responsibility performance.In addition,by adding interactive items regression and group regression,we also found that the relationship between social responsibility investment fund holdings and corporate social responsibility was also regulated by the fund holding time,the size of enterprises and the concentration of ownership.Specifically,the longer the holding time,the larger the firm size,the greater the impact of Coporate Social investment on corporate social responsibility.Compared with firms with higher ownership concentration,the shareholding of social responsibility investment funds has a greater impact on firms with lower concentration of ownership,but this difference is not obvious.Finally,this article through the key variable replacement to do the robustness test of the results.the research of this paper discusses the impact of social responsibility investment fund on corporate social responsibility,our research on the one hand,enriches the research on the influencing factors of social responsibility,and has certain academic value.On the other hand,by test the role of social responsibility investment fund in promoting corporate social responsibility is practical significance and it provide theoretical basis for promoting the development of China's social responsibility investment fund.