上市公司社会责任与公司价值性的相关性——基于沪市A股制造业的经验证据

The Relevance About Social Responsibility of Listed Companies and Its Value——Based on Empirical Vvidence of Manufacturing in the Shanghai A-share Market

随着社会经济的发展,上市公司社会责任缺失事件层出不穷。本文从上市公司的股东、债权人、员工、消费者、供应商、政府、社会公众七个利益相关者入手,对上市公司社会责任的履行与公司价值的相关性进行了实证分析。研究发现上市公司履行对股东、债权人、政府和社会公众的责任与公司价值显著正相关,整体而言上市公司积极履行社会责任可以提升公司的价值,而不是导致公司价值的降低。

With the development of economy and society, variety incidents？ of the listed companies social responsibility appeared. The paper start from listed companies＇s seven stakeholders including the company＇s shareholders, creditors, employees, customers, suppliers, government, social public to make the empirical research about the correlation between the fulfillment of social responsibility and the value of the company. The result shows that listed companies fulfill its responsibilities about shareholders, creditors, government, social welfare have a significant positive correlation with value of the company. On the whole, actively fulfill the social responsibility of listed companies can enhance the value of the company, and not lead to a drop in the value of the company.