Empirical Studies Of Corporate Social Responsibility And Business Performance

Since the early 20th century, with the development of the society and increasing of the level of the consumers' awareness, the corporate social responsibility has been paid more and more attention in face of negative externalities as environment pollution, unqualified products and potential safety hazard in the process caused by the enterprises. Taking on social responsibility has been considered as a long-term investment and a competitive means. Among these, the influence of fulfillment of CSR on corporate performance has been the very focus of enterprises.This paper makes analysis on the effect of the whole credit of the firm performance, and tries to find some new rule. Based on former research, we take CSR and performance factors as latent variable, and build a conceptual model to illustrate the relations between the factors. Besides, we chose 324 manufacturing companies and make analysis to their market data. At the end, make the hypothesis test to the conceptual model by structural equation model.The result of the test shows, the corporate responsibility to the stockholder has positive effect on the market financial performance and market performance. The corporate responsibility to the government has inconspicuous effect on market and financial performance. The corporate responsibility to the bank has positive effect on market performance and financial performance.As a result, the corporate social has positive effect on the corporate performance obviously. Based on the perspective of strategy, the fulfillment of the corporate social responsibility results in the competition predominance, which also promote the benefit of the stakeholders.