投资视野下战略性企业社会责任与财务绩效关系的实证研究  

An Empirical Study on Impact of Strategic Corporate Social Responsibility on Corporate Financial Performance from the Perspective of Investment

作　　者：贾娟娟 李健[1] JIA Juanjuan;LI Jian(School of Management and Economics,Beijing Institute of Technology,Beijing 100081,China)

机构地区：[1]北京理工大学管理与经济学院,北京100081

出　　处：《北京理工大学学报（社会科学版）》2022年第3期168-180,共13页Journal of Beijing Institute of Technology：Social Sciences Edition

基　　金：国家自然基金项目“环境行为的影响因素、影响机理及治理机制”(71373022)。

摘　　要：面对日渐增多的利益相关者诉求,企业如何在多样的社会责任活动中找到合适的企业社会责任投入水平是当下学界关注的议题。基于战略性企业社会责任(Strategic Corporate Social Responsibility,SCSR)的理论框架,利用2009—2019年A股上市公司慈善捐赠支出、2016—2019年企业精准扶贫中产业扶贫项目支出数据,将企业社会责任视为一种有影响力的战略投资,分别检验持续性战略(连续3~5年慈善捐赠支出)和差异性战略(产业扶贫支出数据)两种战略性企业社会责任对企业财务绩效的影响。研究结果表明:(1)总体战略性企业社会责任正向影响企业财务绩效;(2)战略性企业社会责任(持续性战略)虽然在三年与五年投资期限上都正向影响企业财务绩效,但随着投资时间延长,财务绩效有所下降;(3)企业所有权对战略性企业社会责任与财务绩效的关系几乎没有差异性影响。通过对战略性企业社会责任概念框架的深入探讨,并针对两种类型的战略性企业社会责任进行实证分析,为管理者在应对不同利益相关者的诉求时提供战略性建议,通过战略性企业社会责任活动同时促进自身的社会价值(Social Value)和经济价值(Economic Value)。In this paper,the formation of conceptual framework about strategic corporate social responsibility impact the financial performance.Strategic corporate social responsibility(SCSR)is defined as a model for fulfillment of societal needs while increasing business financial performance.In the application of the conceptual framework,the author combines the strategic management theory and regards corporate social responsibility as an influential investment.The investment methods of sustainability strategy and differentiation strategy not only realize their social value,but also promote corporate financial performance.Thus,corporate ownership has almost no differential influence on the relationship between strategic corporate social responsibility and financial performance.The research finds that thinking about strategic corporate social responsibility from the perspective of investment enables managers to better cope with the increasing demands from different stakeholders,and to satisfy social needs while promoting their own social value(SV)and economic value(EV).

关 键 词：战略性企业社会责任 社会责任投资 战略管理 精准扶贫 

分 类 号：C930[经济管理—管理学]