沈阳工业大学学报（社会科学版）Issue(4)：329-336,8.DOI:10.7688/j.issn.1674-0823.2015.04.08
基于内生性的企业社会责任与财务绩效关系研究∗
Research on relationship between endogenous corporate social responsibility and financial performance
摘要
Abstract
The major companies listed in the Shanghai Stock Exchange and the Shenzhen Stock Exchange from 2012 to 2013 are taken as the research sample. A index is constructed by factor analysis according to the stakeholder theory. The total assets yield of the main business is selected to measure the financial performance of the companies. The simultaneous equations are constructed according to the results of regression analysis. The identification and Houseman test of the simultaneous equations prove that corporate social responsibility is endogenous. The relationship between corporate social responsibility and financial performance is empirically reviewed from endogenous perspective by using GMM method. The result shows that there is a positive correlation between corporate social responsibility and financial performance. This conclusion provides theoretical and practical basis for companies to undertake the social responsibility.关键词
企业社会责任/财务绩效/内生性/利益相关者/因子分析法/豪斯曼检验/广义矩估计Key words
corporate social responsibility/financial performance/endogenousness/stakeholder/factor analysis/Houseman test/generalized method of monents分类
管理科学引用本文复制引用
..基于内生性的企业社会责任与财务绩效关系研究∗[J].沈阳工业大学学报（社会科学版）,2015,(4):329-336,8.基金项目
辽宁省教育厅一般项目(W2012021)。 （W2012021）
