Research On The Effect Of Strategic Investors On CSR Performance Of State-owned Enterprises

In the course of China's economic development,state-owned enterprises have played an irreplaceable role.However,there are still some contradictions and prominent problems that need to be solved urgently in state-owned enterprises.For example,the operation of state capital is inefficiency,the internal management system of enterprises is imperfect,which leads to the loss of state assets,and there are still some problems left over from history that have not been solved,mainly in the aspects of employee pension,housing security,salary,corporate debt,and the imbalance between government and enterprise.With the rise of China's international status,competition has intensified.In order to ensure the high quality of China's economic development,the reform of state-owned enterprises is urgent.The decision issued at the third plenary session of the 18 th central committee of the communist party of China(CPC)in three years officially opened the prelude to the comprehensive deepening of reform of state-owned enterprises.It can be seen that the mixed ownership reform of state-owned enterprises is deepening layer by layer.Different from other enterprises,state-owned enterprises have a dual nature.Therefore,the social goals shouldered by state-owned enterprises should not be ignored while improving their performance.Only when the dual goals of state-owned enterprises are taken into account can the significance of mixed ownership reform be truly reflected.There are many ways for state-owned enterprises to carry out mixed ownership reform,including three modes: state-owned assets securitization,employee stock ownership and introduction of strategic investors.At present,state-owned enterprises mostly adopt the path of introducing strategic investors.This paper will take the introduction of strategic investors as the starting point and adopt the case study method to deeply study the impact of strategic investors on the social responsibility performance of state-owned enterprises.At first,the paper introduces the background and significance of the topic,sorts out the domestic and foreign research status of strategic investors,state-owned enterprises and their social performance and social responsibility performance,and defines the important concepts.Using the existing theoretical basis to analyze the social responsibility of strategic investors and state-owned enterprises to lay the foundation for the correlation between the two;At the same time,establish the evaluation system of social responsibility performance.Based on the above work,this paper analyzes the impact of state-owned enterprises' introduction of strategic investors on their social responsibility performance.Firstly,it introduces the background of the selected case company,the motivation of introducing strategic investors and the related process.Then the social responsibility performance evaluation system established in the early stage is used to compare the social responsibility performance before and after the introduction of strategic investors and make a specific analysis.This paper draws the following conclusions: after the introduction of strategic investors,the corporate social responsibility performance ranking shows a trend of accelerating growth;From the perspective of various dimensions of social responsibility performance,the introduction of strategic investors has the most obvious positive impact on the fulfillment of the case company's social responsibility to customers,suppliers and environment.Compared with benchmark enterprises in the industry,it is found that the case company has shortcomings in fulfilling its social responsibilities to employees and the public.According to the above analysis,we can get the following enlightenment.First,state-owned enterprises should select strategic investors according to the macro background of their industry and the actual resources needed for their own development.Second,we should improve the social responsibility disclosure system and evaluation system.Accurate and timely social responsibility information can enable stakeholders to better grasp the dynamics of enterprises.Although the number of social responsibility reports issued in recent years has increased,many of them are superficial and lack of information of actual value.The existing social responsibility performance evaluation system is relatively miscellany evaluation standards are different,improve the social responsibility performance evaluation system is more helpful to urge enterprises to fulfill social responsibility;Third,the case company Dongbei Special Steel Group should strengthen the awareness of social responsibility to the government and the public,and actively respond to national policies and extend more helping hands in public welfare and charity activities in the future.As strategic investors,private enterprises should strengthen their awareness of responsibility to the government and the public while taking into account their operating benefits.