The Related Research On Enterprise Social Responsibility And Investment Efficiency In Food And Beverage Industry

With economic development, people today are no longer just focus on corporate economy but also begin to pay attention to the corporate social benefits. Especially for food companies, with the diversified demand, consumers’expectation for food is now higher. But which is contradicted is that, China’s continued occurrence of food quality and safety is a concern. From2008Sanlu " Melamine milk " to2011Shuanghui "Clenbuterol" and then in2012the exposure of Carrefour " back pack" selling expired food, many outbreaks of food safety incidents are strongly related with social responsibility information. Food and beverage companies of various interest groups especially the consumers to undertake social responsibility,, not only can promote the enterprise’s cohesive force and the core competitiveness of the enterprise, also can establish good corporate social image. External information users can through the implementation of corporate social responsibility(CSR), to determine the social value of enterprise. And enterprise’s social value can provide conditions for the realization of the enterprise’s economic value; provide the basis for enterprise’s sustainable development. The investment activities are the core of economic activity, effective investment activities is related to the company’s value realization, is the main carrier of economic goals and social responsibility. Thus, in the enterprise when evaluating investment activities, it is necessary to introduce corporate social responsibility evaluation.This thesis analyzes the correlation of corporate social responsibility and corporate investment efficiency from two aspects of theoretical analysis and empirical research. In the aspect of theory, first of all, we describe the purpose and significance of this thesis and general summarize the study on the research status of CSR and investment efficiency by domestic and foreign scholars. Secondly we define the concepts of CSR and corporate investment, respectively expound the basic theory of the social responsibility and investment efficiency, and define the content of the food and beverage enterprise social responsibility from the perspective of stakeholders. Finally, based on the above theoretical overview, the thesis analyzes the mechanism of CSR and corporate investment efficiency. We sum up the disclosure of CSR and situation analysis of investment efficiency, and theoretically clarify that CSR will affect the investment efficiency of the enterprise.Our empirical study is used SPSS17.0residuals on business investment spending model for Richardson.Based on the model, we quantify the investment efficiency of our country food and beverage companies from2008to2012, to get the level of investment. Then we built CSR and investment efficiency regression model, to study the period and the late impact of the fulfilling social responsibility on the efficiency of investment in food and beverage companies. This research proves that our food and beverage enterprises widespread phenomenon of underinvestment and excessive investment, and CSR to fulfill its positive correlation between the enterprise investment efficiency, but not statistically significant.