基于产权性质的企业社会责任与财务绩效关系

基于产权性质将企业分为国有企业与非国有企业,运用滞后期双向模型,选取2010-2014年江浙沪A股上市公司为样本,对企业社会责任与财务绩效之间交互跨期关系进行了实证研究,并就不同产权性质的企业进行进一步深入分析.结果显示:当期企业社会责任对当期财务绩效有正向作用;当期财务绩效对当期及后一期企业社会责任有正向作用,且对后一期的正向作用更大;国企性质会削弱两者间的关系.企业应认清履行社会责任的意义,使其成为促进企业良性发展的一个举措.

Relationship Between Corporate Social Responsibility and Financial Performance Based on Property Rights

Based on property rights, enterprises are divided into state owned ones and non state owned ones. Considering the lag of impact, a bidirectional model was designed for an empirical research on the stage crossing interaction between CSR (corporate social responsibility) and FP (financial performance), with the data of A share listed companies in Jiangsu, Zhejiang provinces and Shanghai municipality in 20102014. The results show that, the higher current CSR is, the better current FP will be; the positive effect by current FP on next stage CSR is greater than that on current one; the nature of state owned enterprises impairs this reciprocity. Enterprises should recognize the significance of CSR and make it a driving force for sustainable development.