企业社会责任对企业财务绩效的影响及其传导机制

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Abstract Against the background of China’s continuous economic growth and enterprise expansion, the corporate influence upon the stakeholders has constantly increased. Corporate social responsibility is a big issue drawing more attention. In essence, it is an external issue. The corporation imposes cost upon its stakeholders when it fulfills the contract with them without paying any price. Such behavior can reduce the cost of direct investment in short term, but increase the cost of negotiation between the corporation and its stakeholders, and the friction in their cooperation. As a result, the stakeholders are not willing to devote resources to the corporation, or require the corporation to pay even higher price, thus increasing the transaction fee of the corporation, and affecting the financial performance of the corporation, which is a transmission mechanism between corporate social responsibility and its financial performance. Only when properly understanding the essence of the corporate social responsibility and the transmission mechanism between corporate social responsibility and its financial performance can policy-makers step up effective measures, and the corporation know how to fulfill social responsibility.

Key words： corporate social responsibility corporate financial performance new system economics

Received: 31 December 2015

PACS:

F270

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	YU Feng

Cite this article:

YU Feng. The Impact of Corporate Social Responsibility upon Corporate Financial Performance and its Transmission Mechanism[J]. , 2016, 33(2): 82-87.

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https://xb.szu.edu.cn/EN/ OR https://xb.szu.edu.cn/EN/Y2016/V33/I2/82

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