The Research On The Correlation Of Corporate Social Responsibility And Corporate Value

In recent years, changes in corporate social responsibility in China’s economic development have been got more and more attention. At present, China’s research concentrated on corporate social responsibility disclosure on the impact of regulation, and corporate social responsibility on the financial performance. Different from previous studies that the paper selected corporate social responsibility and enterprise value for the study of the correlation between the angle. Using 2004--2013 the decade data for the study sample. First, the internal relations of Corporate Social Responsibility and Corporate Value theoretical analysis, then through correlation test, Granger causality test, regression test to verify the proposed hypotheses.Research priorities and innovation of this paper is in two parts:First, a comprehensive index to quantify; the second is from the theoretical and empirical analysis of corporate social responsibility and corporate value relationship. In this article, companies assumed responsibility for the main stakeholders including investors, employees, suppliers, governments, consumers five parts. In this paper, financial data and analytical methods to quantify factors comprehensive index of corporate social responsibility, through theoretical and empirical research, we find: Corporate Social Responsibility and Corporate Value influence exists unidirectional relations, corporate social responsibility is the Granger cause of corporate value. And the current good performance of corporate social responsibility, it will reduce the value of the company; the early good CSR performance, will increase the company’s value. Therefore, the CSR has a negative effect in the short-term, long-term role.Correlation of this paper, corporate social responsibility and corporate value First, clear the object of social responsibility; the second is assumed responsibility indicators related to the interests of the main social responsibility factor analysis; the third is the relationship between empirical research both properties. This article is to establish objective, comprehensive social responsibility index system of reference, to provide the policy basis for the government to establish an effective mechanism to promote corporate social responsibility assumed responsibility for enterprises to fulfill their corporate social responsibility, improve the enterprise value to provide theoretical support.