企业社会责任对企业金融化的影响研究--基于中国上市公司的经验证据  

Research on the Impact of Corporate Social Responsibility on Corporate Financialization-Based on Empirical Evidence of Chinese Listed Companies

作　　者：周婷 花冯涛[1] Zhou Ting;Hua Fengtao(School of Economics and Management,Anhui Normal University,Wuhu 241000,China)

机构地区：[1]安徽师范大学经济管理学院,安徽芜湖241000

出　　处：《洛阳师范学院学报》2021年第7期53-57,62,共6页Journal of Luoyang Normal University

基　　金：国家社会科学基金青年项目(13CGL026)。

摘　　要：以2008—2017年沪深两市A股上市公司数据作为样本,实证研究了企业社会责任对企业金融化的影响。结果表明企业社会责任与企业金融化之间呈显著的正向关系,区分产权性质后,发现国企的作用更强,并且企业社会责任的细分指标员工责任绩效、政府责任绩效、金融机构责任绩效与企业金融化之间呈显著的正向作用,顾客责任绩效与企业金融化之间呈显著的负向作用。检验了企业金融化与企业创新之间的关系,发现企业金融化对创新产生抑制作用。Taking the data of A-share listed companies on Shanghai and Shenzhen Stock Exchanges from 2008 to 2017 as samples, the impact of corporate social responsibility on corporate financialization is studied. The results show that there is a significant positive relationship between corporate social responsibility and corporate financialization;after distinguishing the nature of property rights, it is found that the role of state-owned enterprises is stronger, and there is a significant positive effect between the sub-indicators of corporate social responsibility, that is, responsibility performance of the employees, the government and financial institutions has significant positive effect and the corporate financialization. There is a significant negative effect between customer responsibility performance and corporate financialization. Then the relationship between enterprise financialization and enterprise innovation is studied to find that enterprise financialization has repressive effect on enterprise innovation.

关 键 词：企业社会责任 企业金融化 企业创新 

分 类 号：F270[经济管理—企业管理]