Research On The Relationship Between Corporate Social Responsibility,Media Concern And Corporate Performance

With the improvement of material living standards,people's demands for spiritual pursuit are getting higher and higher,and their sense of responsibility is getting stronger.In recent years,the Chinese government and the legislative department have promulgated a series of laws and regulations on corporate social responsibility issues,but enterprises are The performance of social responsibility still cannot satisfy the public.The lack of responsibility has been repeatedly exposed by the media.The status quo of responsibility is not optimistic and has a negative impact on corporate and social development.In the traditional sense,the goal of blindly pursuing profit maximization has been questioned by all walks of life.How to achieve the effective integration of corporate value pursuit and social responsibility has aroused widespread concern and discussion in the academic and practical circles.The relationship between corporate social responsibility and corporate performance Departure,to discuss whether the enterprise should actively fulfill its social responsibility,in order to guide corporate behavior.With the development of information networks,the media has gradually become a necessity for public life,speeding up the process of information sharing,promoting the increasingly transparent corporate information,and causing tremendous changes in enterprises.The media is not only an intermediary for information dissemination,but also meets the information needs of the public by reporting corporate social responsibility behaviors.It can also vigorously promote positive corporate behaviors based on its influence in society,so that the positive image of the company will be magnified and formed well.The reputation of the company,this reputation effect will become the unique core competitiveness of the enterprise,which makes the enterprise in an advantageous position in the competition,can reduce some hidden obstacles in the business operation,and is beneficial to improve performance.Media attention can make corporate social responsibility behavior an intrinsic motivation for companies to improve their financial performance.And the media is highly concerned that the company is under the supervision of the whole people,and the company has to be more cautious.Based on this,this paper incorporates media attention in the research framework,and expects to indicate the mechanism of corporate social responsibility on corporate performance from the perspective of media.This paper firstly summarizes the relevant research literature from the perspective of variable relationship,and deduces and deducts the research hypothesis of this paper based on the four basic theories.Then take the 2012-2017 full A-share listed company as the research sample,and use the panel data fixed effect model to conduct the main regression analysis.The empirical results support the research hypothesis: the company actively takes social responsibility to improve financial performance;corporate social responsibility performance Differences will cause different levels of media attention,and the better corporate social responsibility performance,the more media attention;the media focus on promoting performance;the media attention partially mediates the relationship between corporate social responsibility and financial performance.In order to make the research results more specific and credible,this paper further divides the group according to the size and nature of the enterprise.The results of group regression also support the research hypothesis,and the degree of response of corporate performance to corporate social responsibility behavior and media attention will be due to the nature of the property rights of the enterprise.The company's scale is different,and finally,through the hysteresis test and the robustness test of the surrogate variables,basically consistent conclusions are obtained.Finally,the recommendations are combined with the relevant conclusions of this paper,and the shortcomings in the research and the direction to be improved are pointed out.