摘要
公司履行社会责任是否能提升公司价值一直都是有争议的话题,其中一个核心难点是如何评价公司履行社会责任的水平.本文以南京大学社会责任指数(CSRINJU)作为上市公司履行社会责任的评价标准,以托宾Q作为企业价值的衡量标准,利用中国上市公司2007年数据,实证考察履行社会责任能否提升公司价值.研究发现,公司履行社会责任与公司价值之间呈显著正相关关系,且该正向关系在履行社会责任水平较高的公司体现得更为显著.上市公司管理者只有积极提升其履行社会责任的水平,才能有效地促进其价值效应的体现.
Whether the corporations perform the social responsibility can promote the corporation value has been a controversial topic. Because of the difficulty of the evaluation, there is rare domestic scholars' research this topic. We take the Nanjing University Social Responsibility Index (CSRINJU) as the criteria to measure the corporation social respon- sibility and make the Tobin Q as the criteria to measure the corporation value. With the empirical test of the China' s a-share market data in 2008 and 2009, this article aims to study the relationship between performing the social responsibility and corporation value of Chinese listed companies, and study whether performing social responsibility can improve the corporate value or not. The research shows that : ( 1 ) the social responsibility and the corporate value show a significant positive correlation, and the social responsibility index is proportional to the value and benefits; (2)the corporate value increment rate is proportional to the social responsibility.
出处
《南京师大学报(自然科学版)》
CAS
CSCD
北大核心
2015年第4期76-81,共6页
Journal of Nanjing Normal University(Natural Science Edition)
关键词
社会责任
公司价值
社会责任评价指数
corporate social responsibility, corporate value, Social Responsibility Index