【作者】 冷洪纬；

【导师】 任月君；

【作者基本信息】 东北财经大学 ， 会计学， 2010， 硕士

【摘要】 自1924年谢尔顿首次提出企业社会责任的观点以来,企业的社会责任受到理论和实务界越来越多的广泛关注。20世纪90年代以后,企业社会责任问题在中国也日益受到重视。越来越多的企业已经开始意识到,主动承担社会责任是企业塑造和提升形象、获取社会资本、增强企业竞争能力、实现企业可持续发展的有效武器。但由于对企业社会责任问题的研究在我国起步比较晚,在社会责任的履行和社会责任信息的披露方面我国企业还存在着很多的问题。因此,本文针对企业社会责任成本与企业价值的关系问题进行了理论研究和实证检验,并在此基础上提出了规范和改善我国企业社会责任履行及社会责任信息披露的相关建议,希望能通过本文的研究,达到提高政府、企业乃至社会公众的社会责任意识、鼓励企业履行社会责任成本。本文主要研究企业价值与企业社会责任成本的相关性问题。旨在通过对该问题的研究,说明企业社会责任成本能提高企业价值,鼓励企业承担社会责任,主要通过五个部分,从理论和实证两个方面论述企业社会责任成本与企业价值的相关性问题。第一部分是绪论,主要介绍本文的研究背景,研究意义,文献综述,研究内容与方法。第二部分是企业社会责任成本概述,先阐述了国外、国内学者对社会责任成本的概念的研究,综合国内外学者的研究后提出了笔者所认为的企业社会责任成本的概念,即企业社会责任成本是企业因承担社会责任而产生的成本,与企业社会责任存在密不可分的关系。然后在笔者界定的社会责任成本概念的基础上,介绍了社会责任成本所包含的四个内容：企业社会公共利益责任成本,企业职工责任成本,企业消费者责任成本,企业其他利益相关者责任成本,并分析了社会责任成本的五个特点：社会性、主观性、多重性、模糊性、滞后性。第三部分先介绍了企业社会责任成本对企业价值存在影响的理论,从前者的研究理论上对企业社会责任成本与企业价值之间的关系进行理论推断,然后从企业社会责任成本所包含的四个内容逐一具体分析了社会责任成本与企业价值的关系。第四部分是实证分析,首先分析我国社会责任成本的披露情况,然后查阅公开的社会责任报告,对其进行了详细的分析,指出了我国社会责任成本披露的现状和存在的不足。然后,在我国社会责任披露情况基础上,设计适用于我国企业的社会责任成本指标体系,从财务指标和非财务指标两方面对其评价。再对企业价值不同指标进行对比,选择Tobin’s Q值作为企业价值衡量指标。最后以371家2009年披露社会责任的A股上市公司2006-2008年度的财务数据为样本,将多项社会责任成本财务指标通过因子分析法提取有效因子作为社会责任成本自变量,以Tobin’s Q为因变量,研究企业社会责任成本与企业价值的相关性。第五部分研究结论与政策建议,分析了实证研究的结果,针对撰写文章过程中发现的我国企业社会责任问题提出了建议。本文创新之处在于,通过实证研究,发现企业社会责任成本对企业价值存在滞后影响的关系,并通过因子分析法给出企业社会责任成本的具体变量与企业价值的单独关系,利于根据不同变量的特征制定不同的政策。更多还原

【Abstract】 Since Sheldon firstly put forward the conception of corporate social responsibility (CSR) at 1924, this conception has caught lots of attention from both the theory circles and professional circles. After 1990s, the issues of CSR are becoming more and more important at our country. There are more corporations starting to realize that undertaking social responsibilities actively is an efficient way to enhance corporate identity, obtain social capital, and increase enterprise competitiveness. But as the research on CSR in our country starts too late, there are many problems at corporations’performance and information disclosure of social responsibility. Therefore, this paper does some theoretical analysis and empirical research on the relationship of CSR and corporation value, so as to put forward relevant advises and proposals of improving the performance and information disclosure of corporate social responsibility.This thesis studies the relationship between enterprise value and the cost of corporate social responsibility. The purpose of the research is to find out whether the cost of corporate social responsibility can increase enterprise value. If the cost of corporate social responsibility can increase enterprise value, it should be encouraged. The thesis was divided to five parts, and from both theoretical and empirical discussion of cost and corporate social responsibility issues related to enterprise value.The first part is the introduction, introduces the research background, significance, literature review, content and method.The second part is an overview of the cost of corporate social responsibility. In the first place, introduce the study of the concept of the cost of corporate social responsibility by both foreign and domestic scholars, Then summarize the study by both foreign and domestic scholars and put forward the concept of the cost of corporate social responsibility which the author regard as. The cost of the corporate social responsibility is a part of the corporate social responsibility, and there is close relationship between them. Then on the basis of the concept of corporate social responsibility that I defined, introduce four elements of the cost of corporate social responsibility:the cost of corporate social responsibility to the public interest, the cost of corporate responsibility to the employees, the cost of corporate social responsibility to the consumers, the cost of corporate social responsibility to other stakeholders. After this, analyzed the cost of the five characteristics of social responsibility:social, subjectivity, multiplicity, ambiguity, hysteresis.The third part first introduced the theory about how the cost of corporate social responsibility impact on enterprise value. The purpose of this is to prove that the cost of corporate social responsibility inference enterprise value on the theory then based on four elements of the cost of corporate social responsibility analysis the relationship between the cost of corporate social responsibility and enterprise valueThe fourth part is the empirical analysis, first analyze the condition of the disclosure of social responsibility in our country, then analyze the report of social responsibility and point out the shortcomings of the disclosure of social responsibility in our country. Based on the condition of the disclosure of social responsibility in our country, designed the index system for the cost of corporate social responsibility from non-financial indicators and financial indicators. Compare different indicators of enterprise value, and then select the Tobin’s Q value as a measure of enterprise value. Finally, take the disclosure of social responsibility in 2009 A-share listed 371 companies’financial data from 2006 to 2008 as the sample. Change all the financial indicators of the cost of social responsibility to certain social responsibility factor by using factor analysis. Then research the relationship between the Tobin’s Q and the factor of the cost of social responsibility.The fifth part conclusions and give some policy and recommendations. Analyze the results of empirical research, and then give some policy and recommendations about the issues that found in the course of research. The innovation of this thesis is that found out the hysteresis of the cost of corporate social responsibility and how it influences the enterprise value through empirical study. And then give the consequence of the relationship between all indicators of the cost of corporate social responsibility and enterprise value through factor analysis. This will lead better to establish different policies according to different variables characteristics.更多还原