Study On The Factors Of Enterprise Value Based On The Perspective Of Social Responsibility

Since the reform and opening up, China’s economic development gained the success that attract worldwide attention, however, resource consumption and environmental pollution is quite serious. The reason in addition to restrict the backward technology and resources, the implementation of corporate social responsibility is not in place is also an important reason. This situation caused by the source to the enterprise’s long-term misunderstanding: the companies that fulfilling social responsibility will increase the enterprise value, and may even reduce the value of enterprises, resulting in most of the enterprises to fulfill their social responsibility to bear and passive. At present, the pollution of the environment have become increasingly prominent, to a great extent the health and safety of life and property.Therefore, urge the enterprises to actively fulfill their social responsibilities, reduce the pollution of the environment has become the government and the social problems to be solved. If it can be shown that social responsibility can have a positive impact on enterprise value, then the enterprise will take the initiative to fulfill their social responsibilities; otherwise, it needs to develop the corresponding legal provisions to restrict the behavior of enterprises, make it possible to undertake the social responsibility.Based on the Shanghai Stock Exchange in 2011-2013 listing Corporation in petrochemical industry as the sample data, the influence of social responsibility from the perspective of the enterprise value based on factors. Among them, the social responsibility to creditors responsibility, employee responsibility, liability of shareholders, the responsibility of the government, the social donation responsibility and supplier responsibility and environmental responsibility. At the same time, the implementation of empirical analysis by SPSS17.0, the main content is divided into four parts: descriptive statistics, factor analysis, multiple linear regression analysis and robustness test.The conclusions of empirical research show that: the creditor liability factor F1,the employee responsibility factor F2, the supplier responsibility factor F6 have no important influence on the enterprise value. The factor F3, the government responsibility factor F4, the social donation responsibility factor F5, the environmental responsibility factor F7 have the important influence on the enterprise value. Amongthem, F3, F4, F5 on the value of the enterprise produce positive influence, and F7 on enterprise value produced negative impact, causing the result is: indicators of the environmental responsibility factor to enterprise value produce negative influence, so environmental responsibility factor to enterprise value produce negative influence.In general, to fulfill their social responsibilities is not necessarily reduce the value of the enterprise, it will improve the enterprise value. This thesis proposed by strengthening the awareness of social responsibility, social responsibility, the implementation of China’s legal development characteristics of social responsibility evaluation criteria and the improvement of social responsibility information disclosure and other measures to promote the implementation of corporate social responsibility,and improve the living environment of people, improve the quality of life of citizens.