社会责任履行对企业价值的影响

经济全球化使得世界各国联系更为紧密,全球环境污染、气候变化、企业信用危机等的挑战,共同推动企业社会责任运动的蓬勃发展。企业作为最重要的社会生产组织,积极履行社会责任是遵循人口、资源与环境可持续发展理念的重要表现,也是企业追求价值增值的实际需要。在对国内外文献评述的基础上,基于利益相关者理论,阐述了企业履行社会责任对企业价值的影响路径,并利用A股上市公司2009-2011年292组数据,检验企业社会责任履行与企业价值的相关关系。研究结论表明企业社会责任与企业价值之间存在显著正相关关系,这为企业自觉履行社会责任提供了一定的理论指导。

The Effect of Social Responsibility on Enterprise Value

Economic globalization makes the world closer and closer. When every country faces common challenges like the global environmental degradation, the climate anomalies, enterprise credit crisis and etc., the idea of sustainable development has become the basic value which is accepted by consensus. As an important social organization of production, the corporations controls and dominates the growing number of resources. That corporations actively fulfill their social responsibilities has a great significance to realize the sustainable development of population, resources, and environment. By adopting the stakeholder theory and the contract theory, this paper focuses on elaborating the effect of corporate social responsibilities on the corporate value. Selecting 292 groups＇ data from 2009 to 2011 of A-shares listed companies as researching samples, this paper builds up a multiple regression model of relationship between corporate social responsibility and the corporate value. It is concluded that there exists a significant positive relationship between the corporate social responsibility and the corporate value.