企业财务绩效与其社会责任履行的相关性研究——以电力行业上市公司为例
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摘要
通过选取沪深两市40家主营业务为电力生产和供应的企业作为样本,利用其2014-2017年的年报数据以及社会责任报告,使用Excel和Ewiews7.0统计软件,运用面板数据,分析了电力行业企业的盈利能力与其承担社会责任的相关关系。研究结果发现:企业社会责任的承担情况与企业的盈利能力互为正相关关系,企业前期社会责任的承担会对本期企业的财务业绩产生正向影响,同时社会责任的承担存在前后期的延续性。企业规模作为控制变量并没有对企业社会责任承担以及企业盈利能力产生显著的影响。
This paper analyzed the relationship of undertaking social responsibility and corporate financial performance by selecting forty power companies in Shenzhen and Shanghai as samples, using the annul report data 2014-2017,with software Ewiews and Excel.The study found that the corporate social responsibility is positively related to corporate profitbility mutually,early corporate social responsibility will have a positive impact on the financial performance of the current period, and the undertaing of social responsibility has continuity.The enterprise size as a control variable has no significant impact on corporate social responsibility and corporate financial performance.
This paper analyzed the relationship of undertaking social responsibility and corporate financial performance by selecting forty power companies in Shenzhen and Shanghai as samples, using the annul report data 2014-2017,with software Ewiews and Excel.The study found that the corporate social responsibility is positively related to corporate profitbility mutually,early corporate social responsibility will have a positive impact on the financial performance of the current period, and the undertaing of social responsibility has continuity.The enterprise size as a control variable has no significant impact on corporate social responsibility and corporate financial performance.
引文
[1]张静.企业社会责任、信息披露与企业财务绩效研究.中国财政经济出版社,2017:2-20;107-114
[2]薛才玲.电力企业社会责任指标体系构建与评价模型分析.以利益相关者理论为视角.三峡大学学报(人文社会科学版),2014(6)70-72
[3]Elikington.The Triple Bottom Line of 21st Century Business.Cannibals with Forks.Oxford UK:Capstone Publishing.1998:56-146
[4]PrestonL.E,O’BannonD.P.Thecorporatesocial financial performance relationship:a typology and analysis.BusinessandSociety.1997,36:419-429
[5]Sandra Waddock,Samuel Graves.TheCorporateSocialFerformance-Financial Performance Link.Strategic Management Journal,1997,18(4)303-309
[6]Ruf,B.M,Murmidhar,K.R.,Brown,M.,Janney,J.J,and Paul.An Empirical Investigation of the\relationship between change in Corporation Social Performance an Financial Performance:A Stakeholder theory perspective.Journal of Business Ethics,2001,32(2)255-259
[7]王昶,周登,Shawn.P.D.国外企业社会责任研究进展及启示.华东经济管理,2012(3)152
[8]薛琼,肖海林.企业社会责任与企业绩效关系:研究进展、理论综合和问题前瞻.现代管理科学,2015(5)21-23
[9]沈洪涛.公司社会责任与公司财务业绩关系研究-基于相关利益者理论的分析.厦门大学博士学位论文,2005
[10]温素彬,方苑.企业社会责任与财务绩效关系的实证研究.中国工业经济,2008(10)150-160
[11]尹开国,刘小芹,陈华东.基于内生性的企业社会责任与财务绩效关系研究-来自中国上市公司的经验证据.中国软科学,2014(6)98-107
[12]张兆国,靳小翠,李庚秦.企业社会责任与财务绩效之间交互跨期影响实证研究.会计研究,2013(8)32-39
[13]李国平,韦晓茜.企业社会责任内涵、度量与经济后果-基于国外企业社会责任理论的研究综述.会计研究,2014(8)35-38
[14]李双辰,张春旺,李芳.电力企业社会责任与企业财务绩效关系研究-基于51家公司2011-2013年面板数据.会计之友,2015(24)60-64
[15]张静.企业履行社会责任与其财务业绩的相关性研究-基于2010-2013年采矿业上市公司的面板数据.财务与金融,2015(6)83-89
[2]薛才玲.电力企业社会责任指标体系构建与评价模型分析.以利益相关者理论为视角.三峡大学学报(人文社会科学版),2014(6)70-72
[3]Elikington.The Triple Bottom Line of 21st Century Business.Cannibals with Forks.Oxford UK:Capstone Publishing.1998:56-146
[4]PrestonL.E,O’BannonD.P.Thecorporatesocial financial performance relationship:a typology and analysis.BusinessandSociety.1997,36:419-429
[5]Sandra Waddock,Samuel Graves.TheCorporateSocialFerformance-Financial Performance Link.Strategic Management Journal,1997,18(4)303-309
[6]Ruf,B.M,Murmidhar,K.R.,Brown,M.,Janney,J.J,and Paul.An Empirical Investigation of the\relationship between change in Corporation Social Performance an Financial Performance:A Stakeholder theory perspective.Journal of Business Ethics,2001,32(2)255-259
[7]王昶,周登,Shawn.P.D.国外企业社会责任研究进展及启示.华东经济管理,2012(3)152
[8]薛琼,肖海林.企业社会责任与企业绩效关系:研究进展、理论综合和问题前瞻.现代管理科学,2015(5)21-23
[9]沈洪涛.公司社会责任与公司财务业绩关系研究-基于相关利益者理论的分析.厦门大学博士学位论文,2005
[10]温素彬,方苑.企业社会责任与财务绩效关系的实证研究.中国工业经济,2008(10)150-160
[11]尹开国,刘小芹,陈华东.基于内生性的企业社会责任与财务绩效关系研究-来自中国上市公司的经验证据.中国软科学,2014(6)98-107
[12]张兆国,靳小翠,李庚秦.企业社会责任与财务绩效之间交互跨期影响实证研究.会计研究,2013(8)32-39
[13]李国平,韦晓茜.企业社会责任内涵、度量与经济后果-基于国外企业社会责任理论的研究综述.会计研究,2014(8)35-38
[14]李双辰,张春旺,李芳.电力企业社会责任与企业财务绩效关系研究-基于51家公司2011-2013年面板数据.会计之友,2015(24)60-64
[15]张静.企业履行社会责任与其财务业绩的相关性研究-基于2010-2013年采矿业上市公司的面板数据.财务与金融,2015(6)83-89