基于产权性质的企业社会责任与财务绩效关系

Relationship Between Corporate Social Responsibility and Financial Performance Based on Property Rights

摘要:

基于产权性质将企业分为国有企业与非国有企业，运用滞后期双向模型，选取20102014年江浙沪A股上市公司为样本，对企业社会责任与财务绩效之间交互跨期关系进行了实证研究，并就不同产权性质的企业进行进一步深入分析.结果显示：当期企业社会责任对当期财务绩效有正向作用；当期财务绩效对当期及后一期企业社会责任有正向作用，且对后一期的正向作用更大；国企性质会削弱两者间的关系.企业应认清履行社会责任的意义，使其成为促进企业良性发展的一个举措.

Abstract:

Based on property rights, enterprises are divided into stateowned ones and non stateowned ones. Considering the lag of impact, a bidirectional model was designed for an empirical research on the stagecrossing interaction between CSR (corporate social responsibility) and FP (financial performance), with the data of Ashare listed companies in Jiangsu, Zhejiang provinces and Shanghai municipality in 20102014. The results show that, the higher current CSR is, the better current FP will be; the positive effect by current FP on nextstage CSR is greater than that on current one; the nature of stateowned enterprises impairs this reciprocity. Enterprises should recognize the significance of CSR and make it a driving force for sustainable development.