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

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.