Management Equity Research On The Influence Of Corporate Social Responsibility

Corporate social responsibility is the embodiment of the enterprises' innovative management mode,but also practices the socialist core values,the "butterfly effect" of the social responsibility development makes the enterprises' management goal turn to social value,and promotes the long-term stable development of the enterprises.On the way of sustainable development,we expect that it is not the solo of individual company,but the chorus from all of Chinese corporate social responsibility development.Our country is manufacturing power,manufacturing industry is a mainstay of the country's economic strength,based on this background,this paper studied all listed manufacturing enterprises' social responsibility from 2008 to 2015,and further studied the management equity talent for enterprise technology innovation investment,social donation and absorb the influence mechanism between the employment.First of all,this article combed and summarized related literature about the corporate social responsibility,management equity economic consequences,management equity and corporate social responsibility.Second,it makes the social donations,technology innovation talents,absorbing employment,interest convergence effect and moat defensive effect for definition.Later,on the basis of the principal-agent theory,stakeholder theory,signaling theory and the hypothesis theories of idle resources,it analyses the impact of the economic consequences of management equity of listed companies on the social responsibility mechanism,and puts forward hypothesis of the nonlinear relationship between management equity and social responsibility,and has carried on the RESET to test and verify the rationality of hypothesis test.This paper,by using 2008-2015 all A-share listed manufacturing companies as samples,empirically through GLS processing,the results showed:?Management equity for the fulfillment of corporate social responsibility has an increasing after decreasing effect,the performance for the inverted U-shaped relationship;?the state-owned enterprises to social responsibility are better than private enterprises;? the nature of the property affects the influence of management ownership on social responsibility.Finally,the article puts forward enterprises establish the long-term stock ownership incentive mechanism,reduce the cash dividends of management,and enterprises improve technology innovation talent investigation mechanism,and the government perfects the construction of corporate social responsibility evaluation system of policy recommendations.The main innovation of the paper displays in:first,in this paper,starting from the sustainable development of manufacturing industry,it studies on the nonlinear influence of management equity on corporate social responsibility,and makes up for the deficiency of the traditional research only linear relationship.Second,in the theoretical reasoning part,the introduction of financial performance as the intermediate tools,it transfers management equity economic benefits to the impact of corporate social responsibility mechanism.Again,for the measurement of the social responsibility,it did not choose the traditional grading system,to overcome the subjective operation of variable measurement error,this article will assume social responsibility specific to technology innovation talents investment,club to give donations and absorb employment,and increase the objective authenticity of empirical results.