Research On The Influence Of Managers' Characteristics On The Relationship Between Social Responsibility And Enterprise Value

In today's increasingly fierce competition,enterprises must integrate all the resources conducive to the growth of enterprises in order to create enterprise value.In recent years,there is a widespread lack of social responsibility in various industries,breaking through the moral bottom line to seek the maximization of the interests of enterprises have occurred from time to time,especially the food industry related to human health and life safety.People take food as the day,compared with other industries,food enterprises shoulder more important social responsibility.At present,the academic research on the relationship between community duty and business worth in food industry focuses on the relationship between the two,and has achieved some research results.Whether the enterprise actively undertakes social responsibility is closely related to the manager,the manager's own characteristics determine the manager's cognition of social responsibility to a certain extent,and then determine the enterprise's performance of social responsibility.The existing literature on the relationship between community duty and business worth from the aspects of manager's own characteristics is relatively rare,this paper studies the relationship between community duty and business worth from this point of view.Firstly,this pap puts forward that research background,research purpose and significance,research content and research method,as well as the innovation of this paper.Secondly,the paper summarizes the existing literatures on corporate social responsibility,the measurement methods of corporate value and managers' characteristics,the relationship between managers' characteristics and corporate social responsibility,and the relationship between community duty and business worth,and then leads to the research direction of this paper.Then,based on the comprehensive value theory,principal-agent theory,stakeholder theory and top echelon theory,this article present the study assume.Finally,the paper takes the food industry which revealed corporate social responsibility in Shanghai and Shenzhen stock exchange from 2012 to 2016 as the research object,uses Tobin q value to measure corporate value,uses runling global social responsibility report rating score to measure the performance of corporate social responsibility,and studies the impact of managers' characteristics on the relationship between community duty and business worth from theperspective of managers' gender,age and education level.The empirical part first examines the impact of social responsibility on corporate value in the food industry,and then takes into account the different characteristics of corporate managers,which will lead to differences in managers' cognition and performance of social responsibility,and then the impact on corporate value is different,and then examines the impact of managers' characteristics on the relationship between community duty and business worth.Based on the empirical test of the model,this paper draws a conclusion that the performance of corporate social responsibility in food industry is not optimistic in China.Under other conditions,the performance of corporate social responsibility has a positive role in promoting its value,and the characteristics of managers will affect the relationship between community duty and business worth.The significance of this paper is to call on the food industry in the process of management,pay attention to the characteristics of managers,improve the quality of managers,strengthen the sense of responsibility,fulfill corporate social responsibility to enhance enterprise value,to provide reference for the research field of enterprise value.