我国上市公司社会责任与企业价值关联性分析——以房地产开发与经营业为例

The Relationship Between Corporate Social Responsibility and Corporate Value in Listed Companies——Taking Real Estate Firms for Example

基于财务报告的指标体系、运用主成分分析的方法,对在我国深、沪上市的房地产开发与经营业公司企业价值(以托宾Q衡量)与所建指标体系之间的关系进行实证分析。分析结果表明:样本公司财务报告所反映的其社会责任履行情况与其企业价值相关关系显著,这一实证结果表明企业的社会责任履行对现代企业来说,已经不是一个可有可无的附属品,在企业生存和发展过程中发挥着越来越重要的作用。

This article first establishes index of enterprise based on financial reports. Then using principal component analysis method, the paper carries out an empirical analysis on the relation between corporate value （measured by Tobbin Q） and the established index system of the listed real estate firms of A share in Shanghai and Shenzhen stock market. The experimental results prove that the two of the sample firms have significant relation, which indicates that social responsibility is no longer a dispensable accessory for modern enterprises, instead it plays a more and more important role in the course of enterprise suvival and development.