A Study On The Impact Of Social Responsibility Of Chinese Private Enterprises On Corporate Performance

In past 10 years,with the rapid development of global economy and the increasing improvement of people's living standards,environmental pollution,land degradation and the gap between the rich and the poor have become worse and worse.Whether enterprises can fulfill their social responsibility has played a more important role in the survival of enterprises.Many scholars have studied these problems in depth and tried to find solutions.Many scholars have proved theoretically that corporate social responsibility can improve corporate performance,but at present,corporate social responsibility awareness in China is still weak.Many enterprises are unwilling to fulfill social responsibility,and even think that fulfilling social responsibility is not conducive to improving corporate performance,contrary to the corporate value goal of "maximizing shareholder wealth".Firstly,this paper gives an overview of corporate social responsibility.Based on the definition of corporate social responsibility by scholars at home and abroad,it gives the connotation of corporate social responsibility recognized in this paper.According to stakeholder theory,it determines the specific content of corporate social responsibility,and chooses brand value as intermediary variable to carry out the intermediary effect between social responsibility of enterprise,corporate evaluation and brand value.After theoretical analysis,6567 private listed companies are selected as samples,and Spss 21.0and Sobel 21.0 factor analysis is used for linear regression.Panel data is used to empirically investigate the inner relationship between responsibility of corporate and its financial performance,as well as the intermediary effect of brand value.Empirical research finds that corporate social responsibility has a positive role in promoting the market possession ability and financial perforzmance of enterprises in general.Enterprises with more social responsibility have significantly higher market financing ability and market returns.The conclusion of the study provides an empirical basis for encouraging private enterprises to take on social responsibility actively.