我国体育产业上市公司社会责任对财务绩效影响的实证研究

Empirical Study of the Effect of the Social Responsibility of the Listed Chinese Sports Industry Companies on the Financial Performance

基于利益相关者理论与企业社会责任金字塔模型及杜邦财务分析系统,采用时间序列数据,以2010至2014年港、沪、深市体育产业上市公司的年度报告为研究数据进行实证分析,考察我国体育产业上市公司社会责任的履行对财务绩效的影响,并对我国A股和H股进行对比性实证研究,最终根据实证分析结果结合我国当前实际对体育产业上市公司的发展提出相关的意见和建议。

With the issue of the State Council’s documents on developing sports industry and promoting sports consumption, sports industry, as a hot concept, has become a new economic growth point. The storm of the listed companies getting into sports industry has swept across the country. Yet, ＂the new normal economy＂ of sports industry requires the social responsibility of the companies. Based on the stakeholder theory, CSR pyramid model and Du Pont financial analysis system, the article adopts the time series data and makes an empirical analysis of the research data of the annual reports of the listed sports industry companies in Hong Kong, Shanghai and Shenzhen in the years of 2010-2014. It studies the effect of the social responsibility of the listed Chinese sports industry companies on their financial performance and makes a comparative empirical study on China’s A shares and H shares. Finally, the article puts forward some suggestions on the development of the listed sports industry companies according to the result of the empirical analysis and the current status of China.