Research on the Relationship between Corporate Social Responsibility and Financial Performance Based on Grey Correlation Analysis: Taking the Smartphone Company as an Example

In order to explore the relationship between the corporate social responsibility (CSR) and financial performance in different CSR cultures, this paper respectively takes four representative smartphone companies in China, the United States, Japan and Korea as research objects, that is Huawei, Apple, Sony and Samsung smartphone companies. Then, dividing the CSR into five dimensions i.e. shareholder, customer, supplier, technology innovation and government and establishing the grey correlation model to empirically analyze the relationship between CSR and financial performance. The results indicate that for HUAWEI, the CSR performance in shareholder, customer and technology innovation have greater impact on its financial performance;for Apple, the CSR performance in shareholder, technology innovation and customer has greater impact on its financial performance;for SONY, the CSR performance in technology innovation, customer and shareholder has greater impact on its financial performance;for Samsung, the CSR performance in technology innovation, government and shareholder has greater impact on its financial performance.

The Implementation Mechanism of SocialResponsibility in Chinese State-ownedCompanies

The concept of corporate social responsibility was origined in the United States in the early 1990 s. This theory is put forward,and quickly caused the widespread attention of various disciplines. With the transition of the planned economy to marketeconomy in our country, most of the enterprises in China will still refuse to take care of the social responsibility and a series ofproblems become the biggest contradiction in China＇s economic development and social development. So it is necessary forChina to slove these problems.

An Empirical Studyon the Impact of Corporate Social ResponsibilityInformation Disclosure on EquityCapital Cost

Taking public companies of Shenzhen A-share as samples,the paper analyses the impact of CSR disclosure on the cost of equity capital and the differences in various disclosure ways.The empirical results show that:the CSR disclosure has negative correlation with the cost of equity capital,and different ways of disclosure are not relative to the cost of equity capital.Corporate social responsibility information disclosure plays a critical role in the company's management.

Optimization of the Financial Strategy of Bilibili Barrage Website from the Perspective of Social Responsibility

This paper studies the modern corporate financial strategy from the perspective of corporate social responsibility performance,using the Internet video site Bilibili as an example to analyze,starting with Bilibili’s strategic environment,based on financing,investment,distribution,and social responsibility.This paper comprehensively analyzes its advantages and disadvantages from its financial strategy.Finally,from the perspective of social responsibility,from three aspects of investment,financing,and profit distribution,the authors made optimization suggestions for Bilibili’s financial strategy.

Influence of Board Mechanisms on Corporate Social Responsibility Disclosures in Nigeria: A Study of Oil and Gas Sector of the Economy

The study examined the influence of board mechanisms on corporate social responsibility disclosure among oil and gas quoted companies in Nigeria for ten(10)years period(2012-2021).Board mechanisms variables of board independence,board size as well as board gender diversity were analyzed to determine their influence on corporate social responsibility disclosures.Data obtained from the financial statement of various sampled companies were suitably analyzed with the help of descriptive statistics,correlation as well as regression analysis by making use of E-view(9.0)econometric packages.Regression result reveals that board independence has significant and negative influence on corporate social responsibility disclosures while board size and board gender diversity have insignificant and negative influence on corporate social responsibility disclosures of various companies.The study therefore arrived at a conclusion that board independence on the board brings about improvement on corporate social responsibility disclosure among quoted oil and gas companies in Nigeria.

Evolution and Governance of the Structure of Marine Economic Networks in China’s Coastal Areas: Based on Sea-related A-share Listed Companies

Data on discrete,isolated attributes of the marine economy are often used in traditional marine economic research.However,as the focus of urban research shifts from internal static attributes to external dynamic linkages,the importance of marine economic net-work research is beginning to emerge.The construction of the marine economic network in China’s coastal areas is necessary to change the flow of land and sea resources and optimize regional marine economic development.Employing data from headquarters and branches of sea-related A-share listed enterprises to construct the marine economic network in China,we use social network analysis(SNA)to discuss the characteristics of its evolution as of 2010,2015,and 2020 and its governance.The following results were obtained.1)In terms of topological characteristics,the scale of the marine economic network in China’s coastal areas has accelerated and expan-ded,and the connections have become increasingly close;thus,this development has complex network characteristics.2)In terms of spatial structure,the intensity of the connection fluctuates and does not form stable development support;the group structure gradually becomes clear,but the overall pattern is fragmented;there are spatial differences in marine economic agglomeration radiation;the radi-ation effect of the eastern marine economic circle is obvious;and the polarization effect of northern and southern marine economic circles is significant.On this basis,we construct a framework for the governance of a marine economic network with the market,the government,and industry as the three governing bodies.By clarifying the driving factors and building objectives of marine economic network construction,this study aims to foster the high-quality development of China’s marine economy.

Evaluation of CSR Performance of Sudanese Telecommunication Companies： A Case Study

Corporate social responsibility （CSR） has received a lot of attention in the last few decades, from the economic responsibility to generate profits, to the discretionary responsibility to meet extra activities that society finds desirable. Companies are under pressure from the stakeholders to engage in the line of social, environmental, and economical responsibilities. Until now, no research has been conducted on CSR performance using a dataset from the telecommunication industry in Sudan. Hence, this paper has investigated the strategic importance of CSR in a Sudan telecommunication company （Sudatel）. In doing so, the paper has sought to understand whether the concept of CSR programs is featured in the company＇s culture and strategic plans or whether the management of the company is highly committed to CSR programs. Telecommunication companies are expanding in economic size. Considered as the largest industry in the world in terms of employment and the fastest growing area in business, there are many social and economic benefits and opportunities that can be created through investment in the telecommunication infrastructure, which has the potential to enhance sustainable development, especially for developing countries. To investigate this problem, a qualitative case study methodology is used to collect and analyze the data. Results indicate that the CSR concept is part of the company＇s strategic plan and given high commitment from the top management.

Theoretical Perspective of Social Entrepreneurship： A Study of Determinants of Social Entrepreneurship in the Context of Saudi Arabia

The present paper discusses the different theories on entrepreneurship in general and social entrepreneurship in particular to investigate the different determinants of social entrepreneurship in the context of Saudi Arabia. The present research is a conceptual study. The data were collected to analyze the entrepreneurship theories in Saudi Arabia＇s context. The data related to entrepreneurship spirit, perception of society towards entrepreneurship, and other macroeconomic indicators are collected from different research journals, websites of different corporate houses, and government sources to analyze the social entrepreneurship theories, such as failure thesis, interdependence theories, welfare state theory, supply-side theory, entrepreneurship education, etc.. The theoretical hypothesis of interdependence theory, entrepreneurship spirit, and general education and the theoretical analysis of this paper in light of Saudi Arabia are in line with the theory. But the hypothesis generated out of failure thesis theory, welfare state theory, entrepreneurship education, and individualistic and collective society culture is not in line with these theories.

双碳目标下ESG与上市公司高质量发展——基于ESG“101”框架的实证分析

研究“环境、社会和治理”(ESG)作为评估企业环境可持续性、社会价值与治理能力的综合矩阵指标体系,识别企业高质量发展的重要指标。从ESG的影响机制看,存在外部影响机制——政府治理以及资本市场参与,以及内部影响机制——E、S与G的相互关系,由此可以构建ESG“101”理论分析框架,阐明ESG与上市公司高质量发展之间的关系。并从政府部门的影响以及资本市场自身的作用两个方面,对上市公司ESG表现与股票收益率进行实证检验后发现,根据监管要求披露ESG相关信息的上市公司更受投资者关注,ESG评分以及其中的组成部分环境“E”和社会责任“S”的评分能够显著正向影响股票收益率。监管层面应制定标准化ESG评估体系规范上市公司ESG信息披露,引导上市公司和金融机构形成“ESG表现-ESG投资”的循环机制,促进有利于节能、减排和降污企业发展的同时,倒逼高污染、高能耗、高排放企业进行绿色改造和创新,发挥ESG助力资本市场落实双碳目标的功能,实现上市公司高质量发展。

上市能源企业ESG评价与财务绩效关系实证研究

ESG是基于价值的重要评估因素,披露涵盖了涉及环境、社会和公司治理三个维度的信息,可以用来评估公司的管理能力和可持续发展水平,并支持风险管理。能源行业作为环境敏感行业,拥有高环境风险和更严苛的监督环境,ESG评价对能源行业的影响更深。我国进行ESG评价的时间较晚,现有对ESG和上市企业财务影响相关性的研究较少。基于我国能源行业发展现状,构建理论框架,进行面板数据回归分析和稳健性检验,研究了ESG评价和我国A股上市能源企业财务状况的相关性。研究结果表明:良好的ESG评价可以促进企业的财务绩效。建议企业应重视ESG评价,投资者应将ESG评价纳入投资决策,监管部门应完善ESG相应政策,媒体应加强监督。

企业社会责任与SA8000标准体系

企业社会责任应是企业在谋求股东利润最大化之外所负有的维护和增进社会利益的义务,是对股东利益最大化这一传统原则的修正和补充;SA8000是规范企业劳工社会责任标准的一种崭新的尝试,它比“企业的人性化”确立更为前进了一步,起到了量化的作用。从企业社会责任和SA8000两方面进行了细致的分析,意在我国企业劳工社会责任的规范化运作机制找到一条相应的途径。

SA8000与人本经济

本文深入探讨了SA8000的产生背景、思想本质及其科学性和局限性,通过与我国科学发展观的比较分析,澄清了目前我国对SA8000的误解和偏见.同时进一步指出,科学的发展观要求我国企业不仅应自觉满足SA8000的要求,而且应承担更广泛的社会责任。

ESG框架下上市快递企业社会责任报告实质性评价

实质性评价是企业社会责任报告质量评价的核心。为评价上市快递企业社会责任报告实质内容,综合考虑国际国内社会责任和ESG标准规范、上市企业社会责任和ESG评价指南、邮政行业法规政策以及利益相关者社会责任信息需求,基于ESG框架构建上市快递企业社会责任报告实质性评价指标体系,选取2018—2021年7家上市快递企业社会责任报告文本进行实证研究。结果表明上市快递企业社会责任报告实质信息披露综合得分整体不高且呈逐年上升趋势,不同企业得分具有明显差异;不同年度的环境、社会和治理三个维度综合评价得分有所增加,但同一维度指标间得分存在显著差异;强制性、推荐性和创新性三类指标中响应国家政策类指标得分明显较高,部分指标存在选择性披露现象。

基于CSR视域的能源型企业绩效结构分解与测度

伴随中国生态文明建设进程的推进,企业追求卓越绩效的同时更多地关注环境与企业社会责任。企业围绕利益相关者履行社会责任(CSR)既可以优化企业环境绩效水平,又可以促进企业运营及盈利能力。从能源型企业全面绩效管理体系所涵盖的环境绩效、生产运营绩效和财务绩效三个方面研究其相互作用关系,并根据其投入—产出联结中体现的网络结构特征,构建基于网络DEA模型的测算体系与流程。以8家国际石油公司的绩效数据为例证,分别测算国际石油企业的环境绩效、生产运营绩效和财务绩效水平并进行对比分析。

CSR行为管理中政府与核心企业的进化博弈模型分析

由于对企业是否履行CSR(Corporate Social Responsibility)行为进行监督需要可观的监督成本,且对政府来说,严格的监督还可能对短期内GDP政绩指标表现造成不利影响。因此,在缺乏媒体监督的社会环境中,政府和核心企业都有不采取措施监督供应链成员履行CSR的动机。针对这一现实问题,可运用进化博弈理论,在前人研究基础上引入GDP政绩和媒体监督的环境因素,构建政府和核心企业CSR监督的进化博弈模型,对彼此博弈策略的稳定性进行分析。研究表明:政府和核心企业对供应链成员的CSR行为是否进行监督一方面取决于监督成本、公众的CSR意识、GDP政绩指标权重以及社会媒体的监督力量等因素,另一方面也与博弈对手的策略选择的概率相关。

我国上市公司ESG信息披露现状分析及对策研究

近年来,全球资本市场上的社会责任观念不断深化,上市公司披露ESG信息已成为一种趋势和潮流。我国上市公司ESG信息披露制度初步建立,诸多上市公司已自愿发布ESG报告,但仍存在ESG信息披露规范不统一、ESG信息披露率较低、信息披露中存在“漂绿”现象、ESG信息披露缺乏内在动力等问题。应通过构建完善的上市公司ESG信息披露制度,由自愿性披露向强制性披露转变,同时合理防治企业“漂绿”现象,并通过构建ESG信息披露激励机制实现羊群效应和建立ESG审计制度提高信息披露质量。

基于碳交易政策考虑CSR和消费者低碳偏好的低碳供应链决策

在“双碳”目标下,低碳供应链如何定价和投入碳减排决策是实现供应链低碳发展的重要问题。为了研究企业的社会责任对低碳供应链定价和碳减排技术决策的影响,文章构建了一个由制造商、零售商和具有低碳偏好的消费者构成的二级低碳供应链博弈模型,对比分析制造商考虑企业社会责任程度和消费者低碳偏好对供应链决策的影响,并确认了企业社会责任程度的最优范围,根据数值分析验证了结论的有效性。研究结果表明:制造商考虑企业社会责任程度在一定值域内才能够有效地降低低碳产品价格,提高供应链的碳减排量以及制造商和零售商的利润,对使用减排技术实现双碳目标方面具有实践意义和管理启示。

ESG投资对上市企业股票收益率的影响分析

ESG投资是把环境责任、社会责任和公司治理纳入投资测度范围的一种投资策略或投资方式。本文选取350家上市公司商道融绿ESG评级、2017年6月至2020年6月每周的收益率、企业规模和企业估值四个变量,采用stata软件对上述变量进行回归分析,得出ESG投资对上市企业股票收益率有正向影响的结论,并依据此实证结果提出了加大环境保护投入,着力提升环保技术;锻造企业社会责任感,坚持可持续发展理念;健全公司治理机制,创新治理方式;规范ESG评价指标,促进ESG投资在我国金融市场的运用四条政策建议。

企业社会责任披露、公司价值与财务表现——基于GSCA方法的研究

通过中国2010年至2019年330家制造业上市公司数据,利用广义结构成分分析方法对企业社会责任披露、公司价值和财务表现三者的关系和影响进行分析。研究表明,企业社会责任披露对财务表现和公司价值具有积极而显著的影响,而财务表现、公司价值也显示出对CSR披露的积极影响。研究提供了企业社会责任对财务表现、公司价值影响的实证证据,建议上市公司积极采取社会责任披露实践,促进公司财务绩效,提升公司价值。

上市公司CSR信息披露的现状及发展趋势

上市公司发布CSR报告(社会责任报告)已是社会发展的必然趋势。通过分析上市公司CSR信息披露现状,发现CSR信息披露依然存在诸多问题。进而结合CSR信息披露方面出现的改善动因,就未来CSR信息披露的发展趋势进行了展望:CSR信息披露的信息将更加全面有效、报告格式以及信息质量将发生重大改观、信息披露的法律制度趋于完整、第三方鉴证将会有统一的标准、政府监管将大大增强。