Research On The Relationship Between Corporate Social Responsibility Of Agriculture-related Enterprise And Corporate Value Based On Triple Bottom Lines

China is in the golden age of the development of corporate social responsibility(CSR),enterprises as the most direct power to promote the development of social economy.It is of great significance for the sustainable development of enterprises and the construction of a socialist harmonious society that whether an enterprise participates in corporate social responsibility.Steady and rapid development of agriculture and its related industries,to a certain extent,has a positive effect on the development of other industries in China.So far,Chinese scholars did a little study on the relationship between corporate social responsibility and corporate value in agricultural industry and no such study based on performance evaluation model of triple bottom lines.Our country is an agricultural country,therefore,the author of this article selected agricultural industry,with the model of triple bottom line performance evaluation,analyze the relationship between the corporate social responsibility and enterprise value.It is not only beneficial to guide the agricultural enterprise social responsibility practice,improving agricultural corporate social responsibility consciousness,also has an great practical significance on the construction of a harmonious socialist society.The theme of this article is based on the triple bottom line performance evaluation model,not only analyze the relationship between corporate social responsibility and corporate value,but also divided corporate social responsibility into economic performance,social performance,and environmental performance,to explore those relationship with the the enterprise value.The specific research ideas are as follows:firstly,organize the related theory,including stakeholder theory,enterprise theory and triple bottom line theory;Secondly,review and analyze the research of scholars both at home and abroad,choose an appropriate corporate social responsibility evaluation index system,meanwhile,select the relevant variables in the research on the relationship of corporate social responsibility and enterprise value;Then,the author using 100 of a-share listed agricultural companies as sample,make an evaluation of its corporate social responsibility,and take corporate social responsibility and corporate value as dependent variable and independent variables respectively,with industry type,whether for ST company,equity concentration,enterprise scale,enterprise risk as control variables,using two-stage least square method(2SLS)and multiple regression analysis method for empirical research;Finally,put forward some suggestions on how to improve the agricultural enterprises' social responsibility based on the applied research conclusion.The study found that:(1)Current performance of corporate social responsibility of agricultural listed companies has a significant positive impact on current corporate value;(2)Current economic performance,current social performance,and current environmental performance of agricultural listed companies have a significant positive impact on current corporate value;(3)Current performance of corporate social responsibility of agricultural listed companies has a negative impact on lag enterprise value,but only show a significantly impact on lag phase I,instead of lag phase ii and lag phase iii;(4)Current economic performance,current social performance,and current environmental performance of agricultural listed companies have a negative impact on lag corporate value in the agricultural listed companies,but only show a significantly impact on lag phase I,instead of lag phase ii and lag phase iii.On this basis,puts forward three Suggestions:enterprises should improve the responsibility consciousness,strengthen enterprise responsibility;The government should play a leading role in the development of corporate social responsibility;The public should be involved in the community,and the supervision from the public should be improved.