声誉在企业社会责任与绩效之间的作用——以商誉作为声誉度量方式的讨论

The Role of Reputation in Corporate Social Responsibility and Performance——Discussion on Goodwill as a Measurement of Reputation

作为企业社会责任影响绩效的一个重要途径,声誉对于企业社会责任的研究具有重要意义。目前,在实证研究中声誉没有一致认可的度量方法。本文以商誉作为声誉的度量方式,采用上市公司2012—2017年的平衡面板数据,对企业社会责任与绩效的关系进行了实证研究,并进一步讨论了声誉在企业社会责任与绩效之间的作用。研究显示:当以商誉作为企业声誉的度量指标时,企业社会责任正向影响企业的声誉;在企业社会责任影响绩效的过程中,声誉没有起到调节作用,但起到了显著的中介效应。因此,企业主动承担社会责任,不仅可以造福于社会,还能提高自身绩效。

As an important way for corporate social responsibility(CSR)to affect performance,reputation is of great significance to the study of CSR.There is no consistently accepted measure of reputation up to now.Based on the balanced panel data of listed companies from 2012 to 2017,using goodwill as a measure of reputation,this paper studies the relationship between CSR and performance,and further discusses the role of CSR reputation and performance.The results show that CSR can positively affect corporate reputation when goodwill is used as a measurement of corporate reputation.In the process of CSR affecting performance,reputation does not play a regulatory role,but plays a significant intermediary effect.Taking the initiative to bear social responsibility,enterprises can not only benefit the society,but also improve their own performance.