本文選題：企業(yè)社會責(zé)任　切入點：財務(wù)績效　出處：《山東工商學(xué)院》2017年碩士論文　論文類型：學(xué)位論文

【摘要】：企業(yè)社會責(zé)任與企業(yè)財務(wù)績效的關(guān)系研究由來已久,但針對該問題尚未達(dá)成一致觀點。產(chǎn)生分歧的原因除了基礎(chǔ)理論視角的差異,不同的代理變量、時間效應(yīng)的考慮外,外部因素的影響也造成了結(jié)果的不同。而現(xiàn)有文獻(xiàn)對于制度在企業(yè)社會責(zé)任-財務(wù)績效關(guān)系中的影響分析,大多集中于外部制度中的管制制度方面,鮮有研究提及外部制度中的規(guī)范制度以及企業(yè)內(nèi)部制度。我國經(jīng)濟(jì)當(dāng)前正處于轉(zhuǎn)型期,由于歷史、體制等種種原因,制度背景較為特殊,而企業(yè)社會責(zé)任的推動離不開制度的配合。因此,研究制度因素在企業(yè)社會責(zé)任-財務(wù)績效關(guān)系中的作用對于探究企業(yè)社會責(zé)任影響企業(yè)財務(wù)績效的機(jī)理、推廣和規(guī)范企業(yè)社會責(zé)任具有理論價值和實踐意義,值得進(jìn)一步探究。本文以上證A股上市公司為樣本,首先借鑒利益相關(guān)者理論、資源理論、信號理論等幾種理論進(jìn)行綜合的分析,提出了企業(yè)社會責(zé)任正向影響企業(yè)財務(wù)績效的假設(shè),并在實證分析這一關(guān)系時時考慮了制度這一外部因素的影響,運用系統(tǒng)GMM估計、面板固定效應(yīng)回歸等方法得到了相對更具有普適性的結(jié)論,部分詮釋以往關(guān)于企業(yè)社會責(zé)任與財務(wù)績效研究中出現(xiàn)的疑惑結(jié)論。第二,本文采用層次回歸檢驗調(diào)節(jié)效應(yīng),從外部制度和內(nèi)部制度兩個層面系統(tǒng)地分析了制度環(huán)境在企業(yè)社會責(zé)任-財務(wù)績效關(guān)系中起到的作用。結(jié)果表明,規(guī)范制度、管制制度、內(nèi)部控制制度均在企業(yè)社會責(zé)任-財務(wù)績效關(guān)系中起到了正向的調(diào)節(jié)作用,內(nèi)部治理程度正向促進(jìn)企業(yè)社會責(zé)任-財務(wù)績效關(guān)系。根據(jù)本文的研究結(jié)果,第一,企業(yè)進(jìn)行企業(yè)社會責(zé)任活動利大于弊。雖然企業(yè)社會責(zé)任活動可能會增加企業(yè)的運營成本,不利于當(dāng)年的績效提升,但從長遠(yuǎn)的角度來看,企業(yè)的長遠(yuǎn)發(fā)展離不開社會的支持與信任。其次,良好的制度環(huán)境可以正向促進(jìn)企業(yè)社會責(zé)任-財務(wù)績效關(guān)系,有利于將企業(yè)的社會責(zé)任行為轉(zhuǎn)化為競爭優(yōu)勢。政府部門應(yīng)該加強制度建設(shè),規(guī)范行業(yè)法律條款和司法解釋,嚴(yán)格劃定企業(yè)的基本責(zé)任,為企業(yè)進(jìn)行社會責(zé)任活動創(chuàng)造更好的環(huán)境。第三,企業(yè)應(yīng)該完善內(nèi)部制度。企業(yè)內(nèi)部制度可以規(guī)范企業(yè)的社會責(zé)任行為,從內(nèi)部約束企業(yè)的不負(fù)責(zé)任行為,避免企業(yè)內(nèi)部利用社會責(zé)任進(jìn)行投機(jī),提高社會責(zé)任支出的效率。第四,企業(yè)內(nèi)部應(yīng)增強對現(xiàn)有制度執(zhí)行效果的管控,確保已有制度發(fā)揮應(yīng)有的作用。
[Abstract]:The relationship between corporate social responsibility and corporate financial performance has been studied for a long time, but there is no consensus view on this issue. The influence of external factors also results in different results. However, the analysis of the influence of the system in the relationship between corporate social responsibility and financial performance mostly focuses on the control system in the external system. Few studies have mentioned the normative system in the external system and the internal system of the enterprise. China's economy is in a period of transition at present. Due to various reasons, such as history and system, the background of the system is relatively special. Therefore, the study of the role of institutional factors in the relationship between corporate social responsibility and financial performance is necessary to explore the mechanism of corporate social responsibility affecting corporate financial performance. Promoting and standardizing corporate social responsibility has theoretical value and practical significance, and it is worth further exploring. Based on the analysis of signal theory and other theories, this paper puts forward the hypothesis that corporate social responsibility (CSR) positively affects corporate financial performance. In the empirical analysis of this relationship, the influence of external factors such as institution is always taken into account, and the system GMM estimation is used. The methods of panel fixed effect regression and so on have obtained the conclusion that is relatively more universal, partly explaining the puzzling conclusion that appeared in the previous researches on corporate social responsibility and financial performance. Secondly, this paper adopts the hierarchical regression test to adjust the effect. This paper systematically analyzes the role of institutional environment in the relationship between corporate social responsibility and financial performance from two aspects of external system and internal system. The internal control system plays a positive role in regulating the relationship between corporate social responsibility and financial performance, and the degree of internal governance positively promotes the relationship between corporate social responsibility and financial performance. The benefits of corporate social responsibility activities outweigh the disadvantages. Although corporate social responsibility activities may increase the operating costs of enterprises and are not conducive to the performance improvement in the current year, in the long run, The long-term development of enterprises can not be separated from social support and trust. Secondly, a good institutional environment can positively promote the relationship between corporate social responsibility and financial performance. Government departments should strengthen the construction of institutions, standardize the legal provisions and judicial interpretations of the industry, and strictly delineate the basic responsibilities of enterprises. Create a better environment for enterprises to carry out social responsibility activities. Third, enterprises should improve their internal systems. The internal system of enterprises can regulate corporate social responsibility behavior, and restrain the irresponsible behavior of enterprises from within. In order to avoid using social responsibility to speculate and improve the efficiency of social responsibility expenditure, the enterprise should strengthen the control of the implementation effect of the existing system and ensure that the existing system plays its due role.
【學(xué)位授予單位】：山東工商學(xué)院
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F270;F275;F832.51

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