内外部企业社会责任差距对企业价值的影响研究
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引用本文:谢玉华,施红茹,覃亚洲.内外部企业社会责任差距对企业价值的影响研究[J].湖南大学学报社会科学版,2019,(6):48-55
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谢玉华,施红茹,覃亚洲 (湖南大学 工商管理学院湖南 长沙 410082) 
中文摘要:以我国上市公司2010-2016年的面板数据为研究对象,本研究运用固定效应模型,对内外部企业社会责任差距与企业价值的关系进行探讨;同时考察两者不同生命周期阶段以及不同差距类型时两者关系特征。研究结果表明:内外部企业社会责任差距与企业价值显著负相关,成熟期企业的内外部社会责任差距与企业价值的负向关系比成长期和衰退期都要显著。研究还发现外部社会责任大于内部社会责任的企业的这种负相关关系要比内部社会责任大于外部社会责任的企业弱。本研究丰富了企业社会责任的理论研究,为企业进行企业社会责任战略投资提供一定实践启示。
中文关键词:内外部企业社会责任差距  企业价值  企业生命周期
 
Research on the Influence of Internal and External Corporate Social Responsibility Gap on Enterprise Value
Abstract:Taking the panel data of Chinese listed companies from 2010 to 2016 as the research object, the fixed effect model is used to discuss the relationship between the internal and external corporate social responsibility gap and enterprise value. At the same time, the characteristics of their relationship in different life-cycle stages and different gap classes were investigated. The research results show that there is a significant negative correlation between the internal and external CSR gap and enterprise value, and the negative correlation between the internal and external CSR gap and enterprise value in the mature stage is more significant than that in the growth stage and the decline stage, which is related to the different value generation of stakeholders in each lifecycle stage. The research also finds that the negative correlation of enterprises with external social responsibility greater than internal social responsibility is weaker than that of enterprises with internal social responsibility greater than external social responsibility. This study enriches the theoretical study of corporate social responsibility and provides some practical enlightenment for enterprises to make strategic investment in corporate social responsibilies.
keywords:internal and external social responsibility gap  enterprise value  corporate life-cycle
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