The Influence Of The Corporate Social Responsibility On Embedded Degrees Of The Global Value Chain

In the age of economic globalization,the international division of labor pattern of various countries has changed to the Global value chain(referred to as GVC)division.The analysis of the level of involvement in the the global value chain has gradually replaced the original export analysis.As a country with abundant labor force,China,with the advantage of cheap labor cost,is generally embedded in the labor-intensive production chain of GVC,which is in the low end of the value chain.In recent years,on the one hand,the global economic is slowdown,the external demand is weak.On the other hand,China's demographic dividend is gradually lost.Multinational companies began to transfer the labor-intensive production to other countries with more advantages in labor costs.The problems that China's manufacturing industry has long been in the low-end part of the value chain began to be highlight.Therefore,how to break through the bottleneck of the low end of the value chain and improve the degree of participation of the manufacturing enterprises in the global value chain has been paid more and more attention.This paper uses the literature analysis method to conclude the previous studies,and find that the main cause of the manufacturing enterprise in the low end of the value chain is the financing constraints.Because of the financing constraints,the manufacturing enterprises can not be able to provides strong material foundation for climbing the high part of the value chain.However,corporate social responsibility can reduce the degree of information asymmetry,and then reduce the financing constraints,and provide sufficient capital for the development of enterprises.Therefore this paper use the global value chain analysis theory,stakeholder theory,asymmetric information theory to illustrate the influence of the corporate social responsibility on the participation in the value chain of the manufacturing enterprises.Then we put forward the hypothesis that corporate social responsibility will help to enhance the enterprise value chain participation.In order to verify the hypothesis,this paper use the combined data of China industrial enterprise database and customs import and export database2010-2013,based on the Upward(2013)method to estimate the foreign value added rate(FVAR)of the manufacturing enterprises as the enterprise global value chain participation index.By calculating,the embeded degrees in the global value chain of China's manufacturing enterprises is generally low.Then,this paper uses correlationanalysis and multiple regression analysis to verify the influence of different dimensions of corporate social responsibility and corporate social responsibility on the embedded value chain of manufacturing enterprises.Through the analysis we draw the following conclusions: firstly,corporate social responsibility is helpful to improve the enterprise embedded degrees in the global value chain;secondly,both the corporate social responsibility of shareholders and responsibility for society has a positive correlation with the embedding degrees;thirdly,corporate social responsibility has a role in promoting block penetration of capital intensive manufacturing enterprises the value chain increased,no significant effect on non capital intensive manufacturing enterprise value chain block penetration.Finally,based on the above conclusions,we put forward some suggestions on how to implement corporate social responsibility strategy in our country,in order to help the dilemma of China's manufacturing enterprises "value chain in the low-end locked".