Top Managements' Background Of Listed Companies And Corporate Social Responsibility

Over the past 40 years of reforming and opening,China's economy has developed rapidly and people's living standards have greatly improved.However,with the rapid economic development,many problems have arisen.For example,some enterprises emit a large amount of pollutants,some enterprises produce toxic materials,toxic food on the market and so on.Faced with the temptation of huge profits,these enterprises ignore the legal system,do not respect integrity and morality,and disregard the public interest,so the performance of corporate social responsibility(CSR)is worrying.It seems that it is not enough to solve the problem of CSR only by institutional supervision,We also need to find the motivation to promote enterprises to fulfill their social responsibility consciously from within.The effective way to solve the problem of CSR is working along both lines.In order to make the enterprise produce the motive force of consciously fulfilling social responsibility from the inside,we must find the source of motive force from top managements,that is to say,we must improve the level of social morality consciousness of top managements.The key factor that affects the formation of social morality consciousness of top managements is their experience of education and work,that is,top managements' background.This paper,Top Managements Background of Listed Companies and Corporate Social Responsibility,carries out the research with such problem consciousness.This paper consists of the following six parts:The first part is the introduction.Firstly,it introduces the worrying situation of CSR in our country,and points out that only relying on institutional supervision can not fundamentally solve the problem.Then it puts forward the problems and research purposes of this paper,that is,by studying the relationship between top managements' background and corporate social responsibility,to explore how to promote corporate conscious fulfillment of social responsibility through the selection and training of top managements.The second part is a literature review.Firstly,we classify and sort out the papers on CSR and top managements' background,then analyze the common points and problems in the research methods and conclusions of these papers,and clarify the research direction of this paper.The third part is the theoretical analysis and hypothesis.Firstly,it elaborates the basic viewpoints of stakeholder theory and high-level echelon theory and the enlightenment to this paper.Then,from the perspective of how to improve the level of social morality consciousness of top managements,this paper focuses on whether the top managements have the working experience of government departments and foreign education and working experience,to put forward hypothesis.The fourth part is the research design,and explains the research method of this paper.The sample of this paper comes from the A-share listed companies which continuously issue CSR reports from 2012 to 2016.Through analysis and comparison,we finally choose the social contribution value per share as the explanatory variable.This part also lists the explained variables,explanatory variables and control variables,and sets up the regression model for empirical analysis.The fifth part is the empirical results and analysis.This part uses hierarchical regression and sub-sample test regression method to find:(1)the higher the proportion of politically related executives is,the better the performance of corporate social responsibility is;(2)the higher the proportion of executives who have studied abroad is,the better the performance of corporate social responsibility is;(3)the higher the proportion of executives who have worked abroad is,the better the performance of corporate social responsibility is,and the older the average age of executives,the more significant the positive correlation between the above three aspects.Furthermore,compared with other countries,the study and work experience of the United States and Europe play a more significant positive role in promoting corporate social responsibility.Finally,the stability tests are carried out at different angles.The sixth part is the conclusion and suggestion.After summarizing the theoretical and empirical results of this paper,according to the conclusion,it puts forward policy recommendations from both the government and enterprises.The contribution of this paper lies in how to improve the social morality consciousness of top managements,focusing on whether senior managers have government department working experience(also known as political connections)and foreign learning and working experience,which are two key factors affecting the conscious fulfillment of social responsibility,to explore the relationship between top managements' background and CSR.Previously,many scholars have studied the influence of executive characteristics on CSR from the perspectives of gender,education,age and tenure.However,they have not paid enough attention to the two aspects of whether senior managers have working experience in government departments and foreign learning and working experience.On the basis of discussing top managements' political connections,foreign learning and work experience,considering the different impact of different countries' working and learning experience on top managements,this paper divides foreign learning and working areas into three aspects:the United States,Europe,non-European and American,and carries out further detailed research.There are two shortcomings in this paper,the first is that the raw data is from CSMAR database.However,because the information disclosure in our country is not very comprehensive and standard,some of the data are missing and some other data may not be accurate enough,which may have some effect on the final regression result.The second is that all top managements are regarded as undifferentiated individuals,but in fact,each executive has different effects on the company because of the different positions,which may be a direction for subsequent research.