An Empirical Study Of The Impact Of Corporate Social Responsibility On Firm Performance

In today's society, with the rapid development of economy, more and more corporate social responsibility has been attentioned by enterprises and all sectors of society, more and more people call for more enterprises to undertake the social responsibility in the focus on economic benefits at the same time, make enterprise, society, community environment, harmonious development. Enterprises have gradually realized that social responsibility initiative to establish a positive corporate image, and shareholders and creditors to establish good relations of cooperation, enhance employee satisfaction and loyalty, consumer and government trust and support, will bring a good economic effect to the enterprise are the invisible. From the perspective of contract theory, the relationship between enterprises and all kinds of subjects is produced through the conclusion of contracts, this paper attempts to study corporate social responsibility from the perspective of social contract theory.This paper reviews a large number of domestic and foreign literature, the research found that corporate social responsibility from the view of social contract literature is less, and there is no unified conclusion. Firstly, this paper analyzes the main stakeholders of contractual relationship with enterprises, and then, according to the type of contract formed by stakeholders and enterprises, it is divided into explicit contracts and implicit contracts. Secondly, enterprises in the binding force of contract need to different interests related to bear the corresponding economic responsibility and social responsibility, analyze different contract content, form and performance level on the performance of enterprises produce what kind of impact. Finally through the empirical analysis of 2008-2014 in seven years, five northwestern provinces listed company data, test of corporate stakeholders of different contract types perform the influence degree of social responsibility of enterprise performance, analysis in the social contract theory and contract theory of incomplete need enterprise to take explicit contracts at the same time, also want to have paid enough attention to the recessive contract, some enterprises only consider the immediate interests while ignoring of no force to ensure the implicit contract is undesirable, the negative effect it brings to the enterprise image and enterprise performance is difficult to estimate and is not easy to recover.Through this research, enrich the research angle and content of corporate social responsibility and the definition of enterprise to fulfill the contractual obligations of the main stakeholders, commitment of stakeholders contract types were divided and the enterprise explicit contracts and implicit contract fulfillment of variables is quantified, analysis of different interest related to fulfill contractual obligations on enterprise performance impact, and the empirical test results for analysis and interpretation, for the enterprises of our country especially in five provinces of Northwest China listed company late to fulfill the contract, put forward measures and suggestions.