农业上市公司社会责任履行与企业价值关联性实证研究
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摘要
随着经济的全球化的深入发展和市民社会的发展以及消费者消费观念的革新,社会各界对企业社会责任越来越重视。企业的竞争将不再限于以往的单纯价格和技术层面上的竞争,还表现在企业对社会责任的履行上。企业履行社会责任不仅能改善自己就的社会形象,促进社会与环境的和谐发展和企业的可持续发展,同时企业对社会责任履行的已经成为企业竞争力的一个重要层面。在这种形势下,完善农业上市公司社会责任的管理刻不容缓。作为农业现代化和产业化的领导力量,农业上市公司履行社会责任将会为其带来回报,同时对涉农企业起到示范作用。本文基于利益相关者论对农业上市公司的社会责任几个相关问题进行了探索性研究。
本研究首先从利益相关者的理论视角界定了企业社会责任,然后分析了农业上市公司对各利益相关者的社会责任。并据此构建了衡量农业上市公司社会责任的指标体系。然后选择了44家主业为涉农行业的上市公司,根据其公开的2009年公司年报和财务报表信息整理出评价指标体系所需要的数据,根据数据的实际可得状况对相关指标进行了调整。然后通过熵权法、修正CRITIC法和修正DIDF法确定了各个指标的权重,并对权重的合理性和指标的区分能力进行的适当解释。然后根据相应的指标权重对农业上市公司对各利益相关者的社会责任贡献进行了评价。并对不同农业上市公司在社会责任表现上的差异进行了分析。
上市公司履行社会责任与其企业价值的关系对其如何履行社会责任有重要影响。所以本研究也分析了农业上市公司的企业社会绩效和企业价值关系。本研究以对农业上市公司社会责任评价的数据作为自变量,以反映其企业价值的Tobin’Q值作为解释变量,再用回归分析方法对二者的关系进行了实证检验和分析。
最后对如何完善和促进农业上市公司履行社会责任提出了相应的建议。主要从构建外界对企业履行社会责任的现实压力和企业自身履行社会责任的内在意义、策略两方面分析了如何履行好对消费者、环境和员工的责任。
With the progress of economical globalization, the development of civil society and the change of consuming interest, people from all levels of our society begin to pay more and more attention to corporate social responsibility (CSR). Therefore the competition among different firms is not only on price and technology but also on CSR. Namely CSR has become an essential component of the competitiveness of a company. To practice CSR is beneficial to build a new image for a company, to promote a harmonious development between human society and natural environment and the sustainable development of the enterprise. So it is imperative to implement CSR. Playing a leading role in agricultural modernization and industrialization, agricultural listed companies would be rewarded from putting CSR into effect and serve as a model for other agriculture-related enterprises. This paper makes an attempt to study some problems related to CSR of agricultural listed companies based on stakeholder theory.
By defining the concept of CSR from the aspect of stakeholder theory, the paper explained the social responsibility for different stakeholders of agricultural listed companies. Then an indices system is formed to assess the CSR performance of agricultural listed companies. The index system is revised owing to the availability of relevant data which collected from the year book and financial statements 2009 of 44 agricultural listed companies. The weights of these indices are calculated by way of entropy, revised CRITIC and revised DIDF techniques. Analysis is also made to explain why these indexes are feasible to reflect different items of CSR. Evaluation of the CSR contribution to different stakeholders of these companies is made by using the weights calculated. Furthermore the difference of CSR performance of these listed companies is analyzed accordingly.
The mutual link between CSR performance and financial value of listed companies has something to do with the implementation of CSR of these companies. In other words,a firm is more likely to implement CSR if CSR has positive impact on its financial performance.So this study analyzed the relationship between CSR performance and corporate value of agricultural listed companies. Regression analysis is conducted using the data from CSR performance (the explaining variables) evaluation and Tobin’s Q index (the dependent variable) of agricultural listed companies.
Finally several possible advices are put forward to improve and to promote the CSR practice of agricultural listed companies. These suggestions, which concerns with forming the external pressure, and the benefits and tactics of implementing CSR for these companies, are mainly aimed at improving the CSR performance of consumers, environment and employees.
本研究首先从利益相关者的理论视角界定了企业社会责任,然后分析了农业上市公司对各利益相关者的社会责任。并据此构建了衡量农业上市公司社会责任的指标体系。然后选择了44家主业为涉农行业的上市公司,根据其公开的2009年公司年报和财务报表信息整理出评价指标体系所需要的数据,根据数据的实际可得状况对相关指标进行了调整。然后通过熵权法、修正CRITIC法和修正DIDF法确定了各个指标的权重,并对权重的合理性和指标的区分能力进行的适当解释。然后根据相应的指标权重对农业上市公司对各利益相关者的社会责任贡献进行了评价。并对不同农业上市公司在社会责任表现上的差异进行了分析。
上市公司履行社会责任与其企业价值的关系对其如何履行社会责任有重要影响。所以本研究也分析了农业上市公司的企业社会绩效和企业价值关系。本研究以对农业上市公司社会责任评价的数据作为自变量,以反映其企业价值的Tobin’Q值作为解释变量,再用回归分析方法对二者的关系进行了实证检验和分析。
最后对如何完善和促进农业上市公司履行社会责任提出了相应的建议。主要从构建外界对企业履行社会责任的现实压力和企业自身履行社会责任的内在意义、策略两方面分析了如何履行好对消费者、环境和员工的责任。
With the progress of economical globalization, the development of civil society and the change of consuming interest, people from all levels of our society begin to pay more and more attention to corporate social responsibility (CSR). Therefore the competition among different firms is not only on price and technology but also on CSR. Namely CSR has become an essential component of the competitiveness of a company. To practice CSR is beneficial to build a new image for a company, to promote a harmonious development between human society and natural environment and the sustainable development of the enterprise. So it is imperative to implement CSR. Playing a leading role in agricultural modernization and industrialization, agricultural listed companies would be rewarded from putting CSR into effect and serve as a model for other agriculture-related enterprises. This paper makes an attempt to study some problems related to CSR of agricultural listed companies based on stakeholder theory.
By defining the concept of CSR from the aspect of stakeholder theory, the paper explained the social responsibility for different stakeholders of agricultural listed companies. Then an indices system is formed to assess the CSR performance of agricultural listed companies. The index system is revised owing to the availability of relevant data which collected from the year book and financial statements 2009 of 44 agricultural listed companies. The weights of these indices are calculated by way of entropy, revised CRITIC and revised DIDF techniques. Analysis is also made to explain why these indexes are feasible to reflect different items of CSR. Evaluation of the CSR contribution to different stakeholders of these companies is made by using the weights calculated. Furthermore the difference of CSR performance of these listed companies is analyzed accordingly.
The mutual link between CSR performance and financial value of listed companies has something to do with the implementation of CSR of these companies. In other words,a firm is more likely to implement CSR if CSR has positive impact on its financial performance.So this study analyzed the relationship between CSR performance and corporate value of agricultural listed companies. Regression analysis is conducted using the data from CSR performance (the explaining variables) evaluation and Tobin’s Q index (the dependent variable) of agricultural listed companies.
Finally several possible advices are put forward to improve and to promote the CSR practice of agricultural listed companies. These suggestions, which concerns with forming the external pressure, and the benefits and tactics of implementing CSR for these companies, are mainly aimed at improving the CSR performance of consumers, environment and employees.
引文
3参见侯文铿、高俊山等编《会计辞海》,辽宁人民出版社2001年版。
13参见张蓓:《我国城市社区治理多元互动模式研究》,2009年上海交通大学硕士论文。
15参见阳秋林、王娜,《我国企业社会责任审计评价体系的构建》,价值工程2010年第5期。
16参见周旭卉,《我国上市公司社会责任评价指标体系的构建》,会计之友2009年18期。
17参见徐颖、牛杰《企业社会责任评价指标体系构建》,合作经济与科技2010年第3期。
33参见姚震宇,《理性、权力与经济繁荣——奥尔森经济增长思想研究》。
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13参见张蓓:《我国城市社区治理多元互动模式研究》,2009年上海交通大学硕士论文。
15参见阳秋林、王娜,《我国企业社会责任审计评价体系的构建》,价值工程2010年第5期。
16参见周旭卉,《我国上市公司社会责任评价指标体系的构建》,会计之友2009年18期。
17参见徐颖、牛杰《企业社会责任评价指标体系构建》,合作经济与科技2010年第3期。
33参见姚震宇,《理性、权力与经济繁荣——奥尔森经济增长思想研究》。
[1] Friedman,“The Social Responsibility of Business is to increase its Profits”, The New York Times Magazine, September 13, 1970:4.
[2]Keith Davis and Robert L. Blomstrom, Business and Society: Environment and Responsibility, 3rd ed.. New York: McGraw-Hill, 1975:39.
[3]. Joseph W. McGuire, Business and Society. New York: McGraw-Hill, 196:144.
[4].Edwin M. Epstein,The Corporate Society Policy Process:Beyond Business Ethics,Corporate Social Responsibility and Corporate Social Responsiveness,California Management Review(Vol. XXIX,No.3,1987).
[5] World Business Council for Sustainable Development,Meeting Changing Expectations:Corporate Social Responsibility,WBCSD,Geneva,Switzerland,1998. [6沈洪涛,沈艺峰.公司社会责任思想起源与演变[M] .上海:上海人民出版社,2007.
[7]、[17] Archie B.Carroll.黄煜平等译.企业与社会责任-伦理与利益相关者管理(第5版)[M].北京:机械工业出版社,2004.
[8] CED. Social responsibilities of business corporations [M].New York: Commit tee for Economic Development, 1971.
[9] Sethi S P. Dimensions of corporate social performance: an analytical framework [J]. California management review, 1975 (3): 58 - 64.
[10]Steiner GA.JF Sterner.Business, Government&Society [M], New York: Random house, 1980.
[11] Frederick W C. Corporate social responsibility in the Reagan era and beyond [J].California management review, 1983(3): 145 - 157.
[12]、[20]李文刚,企业社会责任文献研究[J].现代商业. 2008(33).
[13]、[18] J.J Griffin, J F Mahon. The corporate social performance and corporate financial performance debate: Twenty - five years of incomparable research [J]. Business& Society, 1997(1):5 - 31.
[14]、[15]段文,晁罡,刘善仕.国外企业社会责任研究述评[J].企业管理研究.2007.10.
[16] Mercer Jeffrey James. Corporate social responsibility and its importance to consumers [D]. Claremont: The Claremont Graduate University, 2003.
[19] Geoff Moore. Corporate Social and Financial Performance: An Investigation in t he U. K. Supermarket Industry [J] .Journal of Business Ethics 2001, 34:299 - 315
[21] Gerwin Van der Laan,Hans wan Ees,Arjen Van Witteloostuijn .Corporate Social and Financial Performance: An Extended Stakeholder Theory, and Empirical Test with Accounting Measures[J]. Journal of Business Ethics, 2008(79):299–309.
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