Research On The Motivation And Economic Consequences Of Corporate Social Responsibilit

In recent years,the public is paying increasing attention to the corporate social responsibility.Especially since the outbreak of COVID-19 in early 2020,the public has greater expectations on corporate social responsibility,and companies are fulfilling their social responsibility in more diversified ways.This study firstly reviews the existing literature,summarizes the social motivation framework under the general situation and COVID-19 emergencies,as well as the role that social responsibility can bring to the economic value of enterprises,and then analyzes the case of BYD switching to manufacturing masks.According to the research conclusion of this study,the motivation of enterprises to undertake social responsibility includes economic value motivation,social benefit motivation,as well as double motivation of economic value and social benefit,and those three can be transformed into each other.In an outbreak of sudden social events,the purpose and forms of corporate social responsibility well change a lot,as well as the social responsibility motivation framework will be under the change.Enterprises take the social responsibility of the general double impetus of economic value and social benefits,or mainly economic value take can produce social benefits.In the study of the case of BYD’s transforming to masks,the following conclusions are drawn: The motivations for BYD to take social responsibility include many aspects at the three levels of micro enterprise,medium industry and macro environment,and these multi-level and multi-angle motivations can be classified into economic value motivation and social benefit motivation in the short term,among which the motivations at the micro enterprise level are mainly economic value motivation,the motivation of the medium industry level includes both economic value and social benefit,while the motivation of the macro environment level is mainly social benefit.But in the long run,the results of social benefits can be translated into improvements in economic value.After analyzing the motivations,this study analyzes the economic value and social benefits of BYD’s transformation.According to the analysis,the economic value created by BYD’s undertaking of social responsibility is consistent with the motivations of its initial decision.The case analysis can bring many enlightenments.For enterprises,on the basis of actively fulfilling their social responsibilities,they should pay more attention to the value enhancement brought by their social responsibility.For investors,in the evaluation and valuation of listed companies,they should not only pay attention to profitability indicators and business sustainability,but also pay attention to nonfinancial indicators of social responsibility,and appropriately raise the evaluation of enterprises that actively fulfill social responsibility.For the public and news media,more attention and higher evaluation should be given to enterprises that actively undertake social responsibility,so as to promote more enterprises to pay attention to and assume social responsibility.