企业社会责任与资本约束——来自中国上市公司的证据  

Corporate Social Responsibility and Capital Constraints——Evidence from the Listed companies of China

作　　者：刘计含[1] 王建琼[1] 

机构地区：[1]西南交通大学经济管理学院,成都610031

出　　处：《管理评论》2012年第11期151-157,共7页Management Review

基　　金：国家社会科学基金项目(11XGL001)

摘　　要：近些年,伴随着低碳经济、慈善捐款等一系列社会倡议的提出,企业社会责任问题也越来越受到人们的关注。本文采用润灵环球责任评级2011年的企业评级报告数据,对我国上市公司的企业社会责任与资本约束之间的关系进行研究。研究结果显示,良好地履行企业社会责任可以有效减小公司资本约束,降低企业发展阻力,同时也会帮助企业提高自己的企业形象以及社会认知度。因此,建议企业在未来发展战略中加入这一考虑因素。A series of social initiatives just like low carbon economy, charitable donations and so on, have been put forward in recent years. As a result, corporate social responsibility has also been paid more attention by the public. In this paper we use the 2011 enterprise credit rating report of RANKINS CSR RATINGS to discover the relationship between the capital constraints and the CSR performance of the listed companies of China. Our results have important consequences .We find that good CSR performance can effectively reduce the capital constraints, and reduce the resistance of the enterprise development. In the meanwhile, it also helps enterprises to improve their corporate image and social awareness. Therefore, we suggest that enterprises consider the CSR in the future development strategy of the companies.

关 键 词：企业社会责任 资本约束 发展战略 

分 类 号：F832.51[经济管理—金融学] F270F224