企业社会责任的价值相关性研究述评

A Literature Review on the Relationship between Corporate Social Responsibility and Firm Value

以往企业社会责任的价值相关性研究的结果显示,两者间的关系是模拟两可的、矛盾的和不确定的。本文在归纳和分析国内外相关研究的多样化结果及其产生原因的基础上,从引入中介变量、考虑时间跨度和解构社会责任三个角度梳理该领域研究的新发展,并提出目前研究中急需进一步解决的问题,为未来研究提供方向性的指引。

Previous corporate social responsibility （CSR）literature shows that the relationship between corporate social performance （CSP）and corporate financial performance （CFP）is equivocal,contradictory and inconclusive.Based on the review of related literature home and abroad,the diverse research results of CSP-CFP relationship,and the causes of these diverse results,this paper offers a profile of new development of the field of CSP-CFP research from three aspects-introducing moderators,considering timing horizon,and deconstructing CSR measures.Furthermore,the author brings forward the pending issues still existing on the present state of theoretical research,and thus provides a directional guidance for future research.