A Study Of The Mechanism Shaping The Antecedents And Externality Of Corporate Social Irresponsibility

and 369 sample observation of meta-analysis.The conclusion of the study shows that,(1)corporate social responsibility and performance are positive correlation basically in the transformation background of Chinese economy and society,(2)the correlation between CSR and corporate performance is discrepant in view of the different stakeholders of enterprises,and according to the correlation coefficients ranging from high to low in turn,for shareholders,employees,suppliers,consumers,government,public utilities,creditors.The third part(the fifth chapter)explores the externality of CSI.Corporate social responsibility(CSR)has a spillover effect.In this chapter,the authors use the single factor market model to estimate the cumulative abnormal return of stock,and expand the research on contagion effect and contrast effect which is subject to the literature on spillover effect.Which one is dominant between the contagion effect and the contrast effect in the real world is analyzed in this paper.The study provides several results:(1)CSR crisis has a significant bad impact on the enterprise.The capital market will make a disciplinary response;(2)The spillover effect of CSR includes contrast effect and contagion effect.Different events lead to different spillover effects and the results show that the contrast effect of negative events is stronger than contagion effect;(3)Compared with the contrast effect,the contagion effect has a longer term impact,and the market's response to different events and CSR are different in nature and intensity.The innovation and the theoretical value of this paper is:The research subject is a new problem,the CSI performance is outstanding in practice,but it has not yet formed an effective research results;The antecedents of CSI,the positive externality of CSR,and the negative externality of CSI are actively try in theory research.