Research On The Correlation Between Corporate Social Responsibility And Corporate Value Of Internet Enterprises Based On Structural Equation Model

Since the continuous development of Internet in China,the Internet industry has gradually played an important role in China's economic and social development of our country,and Internet enterprises,as the main body of the use of Internet technology,also shoulder the important mission of promoting the progress of the whole society in the process of their own growth.The value of enterprises and the social responsibility of enterprises play an important role in the process of Internet enterprises to enhance their sustainable development.With the improvement of people's living standard and material conditions,the demand for corporate social responsibility is higher and higher,but the lack of corporate social responsibility has occurred frequently in recent years,which may affect the value of the enterprise by lowering the public expectation on the enterprise.So it seems very important to study the relationship between corporate social responsibility and corporate value,however,the current research on the relationship between the two scholars are still unable to reach a completely unified conclusion.And it is noteworthy that few scholars take social responsibility as the research object to analyze its impact on the value of Internet enterprises.However,for Internet enterprises,especially Internet listed enterprises,goodwill and public recognition of brand image enterprises are important parts in the process of enterprise development,so corporate value is greatly affected by social responsibility.Based on the above reasons,this paper studies the correlation between corporate social responsibility and corporate value from five dimensions: shareholders,creditors,users,employees and government,based on stakeholder theory and considering the characteristics of Internet enterprises.First of all,this paper introduces the research background and significance,analyzes and reviews the research of domestic and foreign scholars on social responsibility,enterprise value and their related relationship.On the basis of literature reading and theoretical analysis,this paper introduces the social responsibility theory,stakeholder theory and structural equation model,and expounds the definition anddevelopment status of Internet enterprises.Then,this paper conducts empirical research,selects the data of 310 Internet listed companies in Shanghai and Shenzhen from 2016 to 2018 as samples,and makes this hypothesis on the relationship between corporate social responsibility and corporate value from the perspective of stakeholders,The descriptive statistical analysis of sample data is carried out with SPSS.The structural equation model is established,the model is run and modified by AMOS24.0,and then the hypothesis test is carried out.It is concluded that the social responsibility of enterprises to shareholders,creditors and users is positively related to enterprise value,while the social responsibility of enterprises to employees and the government is negatively correlated with corporate value.Finally,according to the conclusion of this paper,this paper puts forward some suggestions from the perspective of enterprise and government,in order to give some enlightenment to the subsequent development of Internet industry and the promotion of enterprise value in China.