汽车制造业股权集中度对财务绩效影响研究——基于企业社会责任中介效应视角

On the Impact of Equity Concentration on Financial Performance in the Automotive Manufacturing Industry——Based on the Perspective of Corporate Social Responsibility Mediation Effect

以2016—2020年我国汽车制造业上市公司为研究样本,就企业社会责任在股权集中度与财务绩效间发挥的中介传导效应进行了实证研究。研究结果显示,对于汽车制造业而言,以下三组变量之间存在正相关关系,即股权集中度与财务绩效、股权集中度与企业履行社会责任的水平、企业履行社会责任的水平与财务绩效,汽车制造企业履行社会责任水平在股权集中度与财务绩效之间产生了部分中介效应。据此,从股权集中度和企业社会责任两个维度为汽车制造企业提升其财务绩效提出了相应的建议。

To investigate the mediating transmission effect played by corporate social responsibility between equity concentration and financial performance,listed companies in the automotive manufacturing industry from 2016 to 2020 were used as a research sample and analyzed in the empirical study.The results show that:equity concentration of automotive manufacturing companies is positively related to financial performance;equity concentration of automotive manufacturing companies is positively related to corporate fulfillment of social responsibility;fulfillment of social responsibility of automotive manufacturing companies is positively related to financial performance.Further study finds that corporate social responsibility plays a partial mediating effect in the relationship between equity concentration and financial performance.The study can provide some support for the study of the relationship between the three factors in the automobile manufacturing industry,and accordingly,provide some suggestions for the automobile manufacturing enterprises to improve their financial performance from two latitudes of equity concentration and corporate social responsibility.