Property Rights,Corporate Social Responsibility And Enterprise Value

At the beginning of the 20 th century,the consciousness of social responsibility became more and more valued by enterprises,and the academic circle gradually paid attention to the motive and economic consequences of CSR.Since the 1990 s,with the deepening of the reform and opening up,enhance enterprise economic activity,benefit consciousness also increased,but some companies pay attention to the improvement of economic benefits and ignore the social responsibility,leading to a series of environmental and food safety,employee rights and interests is damaged.With the development of society,Chinese enterprises have begun to pay more and more attention to their social responsibility and pay attention to the social benefits of enterprises,which has attracted the attention and research of scholars.CSR is based on economic benefits,and it is an important condition for enterprises to fulfill their social responsibility by taking social responsibility.And agriculture is often related to people's livelihood,whether the agricultural listed companies better fulfill their social responsibilities,directly affect the people's life.Based on the agricultural listed companies in our country,for example,in the light of the different nature of property rights respectively research enterprise bear the social responsibility and corporate value,the relationship between fastidious companies of different stakeholders to fulfill its social responsibility's impact on the enterprise value.This article selects our country agricultural listed companies 2014-2016 as samples,build multivariate regression model,based on the stakeholder theory,the listed companies of our country agriculture to shareholders,creditors,suppliers,employees,government and the social performance of social responsibility and enterprise value has carried on the empirical research,and to distinguish the different nature of the property,the state-owned agricultural listed companies and private listed agricultural companies.Agricultural listed companies to creditors are negatively related to fulfill social responsibility and corporate value,to suppliers,government and the social responsibility of the employee and enterprise value were positively correlated relationship,enterprises to actively fulfill of the supplier,the social responsibility of the government and the creditors,will enhance the value of enterprise,enterprise to shareholders and the social public interest to fulfill social responsibility no significant influence on the enterprise value.Through the comparative analysis of state-owned enterprises and private enterprises,it is found that the state-owned enterprises have negative correlation with the creditor's social responsibility and enterprise value.It is positively related to the fulfillment of social responsibility and enterprise value to employees and suppliers,and actively fulfilling social responsibilities to suppliers and employees,which will enhance enterprise value;The relationship between social responsibility and corporate value of government,social welfare and shareholders is not significant.Private enterprises' social responsibility to the government will enhance the value of enterprises,and the correlation between social responsibility and corporate value of creditors,suppliers,employees,social welfare and shareholders is not significant.According to the results of this empirical study,this paper is better for our country enterprise to fulfill social responsibility put forward policy Suggestions,and connecting with the nature of property rights give further advice,in order to better build a corporate social responsibility evaluation system,law firms,enhance the social responsibility information disclosure.At the end of this paper,the shortcomings of the research and some prospects for future research are presented.