An Empirical Study On The Relationship Between Corporate Social Responsibility And Corporate Value From The Perspective Of Stakeholders

Today’s China, market economic activity, contributed to the rapid development of enterprises and social development, promoting social progress.The rapid development of the enterprise negative impact on society increasingly. Such as corporate overdue wages owed creditors accounts, consumer fraud, food safety issues outstanding, illegal tax evasion, resource depletion, destruction of the environment and the lack of heart morality and other negative effects. Corporate social behavior will affect society, on the contrary, social behavior will in turn act on the business, then, the development of enterprises lack of action of social responsibility, which is bound to cause social discontent and revolt. The development of modern enterprises, often stressed enterprise value, how to better create value, to become an elite management’s core goals. Therefore, the behavior of corporate social responsibility issues will affect business value, not only in business today hope to get a clear answer, and it is a hot research scholars, this article as a starting point, the relevant professional knowledge and theories as the basis, through the empirical to the relationship between social responsibility and enterprise value research enterprise.First, to determine the main study. The body is divided into two parts, one is corporate social responsibility, the other part of the enterprise value. Corporate social responsibility section, we selected a new stakeholder perspective, through a lot of literature summarizing, combined with modern business and social relations, defined the concept of interest relevant to this article by its content (Dimension). Its contents are classified as shareholders and employees within the enterprise, outside the enterprise’s creditors, customers and suppliers, government, environmental, and social welfare, the interests of several types of stakeholders and business are inseparable, produce a more direct impact on each other. Enterprise Value section, determine the enterprise value estimation method and factors that affect value.Second, it is the sample selection and empirical analysis. Sample part, the results with a more complete and direct data of listed companies as samples, to better explain the analysis, the paper industry, the Commission selected the C25 class C under, C29 and C29; Empirical Analysis section to the two main social responsibility and corporate value of the business were used as independent variables and the dependent variable construct least squares model, using SPSS 13 do regression analysis of the data obtained empirical results to test the hypothesis. Conclusion:Enterprise fulfill shareholders, creditors, employees, customers, creditors, government and environmental responsibility and corporate value is positively correlated, in addition to the environment its impact on the enterprise value of more significant; other enterprises to fulfill their social welfare responsibilities, short-term corporate form negative and long-term positive correlation; corporate social responsibility of the enterprise value of the positive impact of having a certain lag.Finally, we summarize the conclusions of empirical research, based on the conclusions made recommendations for further corporate social responsibility, and has made prospects for future research.