公司治理环境对企业社会责任的影响分析

Analysis of Corporate Governance Environment on Corporate Social Performance

企业社会责任越来越成为公司战略的一个重要部分,近年来更是如此。尽管企业社会责任在企业实践中越来越引起关注,但缺少对资本市场中影响上市公司社会责任的实证研究。本文基于2008年上市公司社会责任的具体表现,运用润灵公益事业咨询(RLCCW)对371份A股上市公司发布的2008年度社会责任报告所设计的评价体系和结果为研究对象,从公司治理环境的角度来分析社会责任的影响因素,证明企业社会责任不仅仅是一种内生化的概念,外部的治理环境起着非常重要的作用。此外,内部治理结构对企业社会绩效也起着一定的作用,但并不一定是一种线性关系,这种影响主要体现在股权集中度上。

Corporate social responsibility（CSR） is increasingly a core component of corporate strategy in the economy.In recent years its importance has become even greater.Although corporations are busy adopting and enhancing CSR practices,there is（beyond very few notable exceptions） no established empirical research on CSR＇s impact and relevance in the capital market.This paper investigates this issue by tracing the impact factors to CSR from the aspect of corporate governance environment,recognized as a CSP benchmark,in 2008.The samples came from The CSR Report of 371 listed companies which were measured by RLCCW.The paper highlights two main findings： External governance environment has a significant effect on CSR,irrespective of the internal factors.Internal governance structure has some effect on CSP,but not linear relation mutually.