The Empirical Analysis Of Social Responsibility And Enterprise Performance Of Private Listed Enterprises

Since the reform and opening up,all the achievements have been made.At the same time,food safety,housing prices,education,environmental protection and other social issues rise up.As organ of the society,enterprises have become inseparable from all aspects of society,so enterprises are duty-bound to take responsibility for these social problems.Most domestic and foreign scholars believe that enterprise social responsibility has a positive effect on enterprise performance,but there is no scholars who have studied private enterprises.In the economic transition period,the private enterprise is the main channel of employment and the main force of technology innovation,and gradually occupies the main position.Now the private enterprise has become the important supporting power of social and economic development.How to guide private enterprises to actively fulfill their social responsibilities have become the focus of our research.This article selects the related data of 133 private listed companies from 2014 to 2016 as the research sample,measures enterprise social responsibility from the shareholders,employees,creditors,suppliers,consumers and governments,and take the Tobin Q as an index of enterprise performance.This article presents the hypothesis and sets up a multiple regression model.The results show that: 1.The performance of private enterprises in social responsibility is poor.The main reason is the lack of social responsibility in China,and the misunderstanding of social responsibility by private enterprises.2.Social responsibility of private enterprises not only improve the performance of enterprises in that year,but also promote the performance of enterprises in the next year.The conclusion shows that the social responsibility of private enterprises not only doesn't reduce the profit,but also stimulate the enterprise's potential and realize the strategic goal.3.The social responsibility of private enterprises to government,creditors and stakeholders has a more significant impact on enterprises performance.The conclusion indicates the main concern for private enterprises to b ear social responsibilities.However,different scholars have different conclusions,so private enterprises should formulate specific strategies according to specific situations.