The Study On The Relationship Between Social Responsibility Fulfillment And Firm Value In Private Enterprises

In the past two decades,corporate social responsibility has developed deeply in China,more and more domestic enterprises have begun to pay attention to the fulfillment of corporate social responsibility.The relationship between social responsibility and corporate value has always been one of the core issues in academic circles.The uncertainty of the relationship between social responsibility and corporate value also makes many managers hesitate to fulfill CSR.At the same time,private enterprises are increasingly becoming an indispensable part of the market environment.It is of far-reaching significance to study the relationship between corporate social responsibility and corporate value.This paper takes a private enterprise of Shaanxi province-Shaanxi Chengzhang Real Estate Holdings Limited(hereinafter referred to as "Chengzhang group")as research object,utilizes the method of single case study,as well as explores the relationship between corporate social responsibility and corporate value through observation and interviewing of its employees,customers and the community about social responsibility fulfillment activity from the three perspectives of corporate value,profitability,productivity,efficiency and development capacity.The study is divided into two sub segments: one is to qualitatively analyzed the relationship between the CSR and the enterprise value of the case-based enterprise by using the method of matrix classification;The other is to make use of the method of SPS case study on social responsibility mechanism of positive effect on the corporate value.This paper draws the following conclusions through research:Firstly,in the whole,to fulfilling the social responsibility positively affects Chengzhang group's firm value.The fulfillment of corporate social responsibility for employees and customers has a positive impact on corporate value among them.Some of the social responsibilities of the public and the environment fulfilled will have a negative impact on the value of the enterprise in the short term,but it can bring a positive reputation and image to theenterprise and promote the sustainable development of the enterprise in the long run.Secondly,private enterprise performing social responsibility influences corporate value by the order of employee-customer-society.1)Company facilitates internal and external role behavior by means of fulfilling the social responsibility of employee to established a highly emotional fusion class affection exchange relationship,promotes corporate production capacity and production efficiency and elevates corporate value;2)With fulfillment the social responsibilities of customers,the corporate establishes a trust and recognition of moderate emotion embedded social exchange relationship with customers,and facilitates the establishment of customer citizenship behavior,which improves corporate profitability and promotes value growth;3)Establishing a positive corporate image and reputation through input to social responsibility,company brings potential and existing customer recognition from the client level,establishes a good social relationship capital from the partner level and ultimately promotes the promotion of enterprise value from the two aspects of profitability and development capacity.On the basis of the analysis of the relationship between the corporate social responsibility fulfillment and the enterprise value,this study provides some supplements for the private enterprise through the fulfillment of corporate social responsibility to realize the enterprise value appreciation mechanism from the aspects of employees,customers and society.It provides some references and suggestions for the private enterprise strategic fulfillment of social responsibility,which has some positive meaning to promote the social responsibility fulfillment of private enterprise.