企業社會責任近年才開始在中國萌芽,中國企業對於企業社會責任之意識較薄弱,本文主要是探討受到中國政府之影響中國非金融企業之報酬與違約風險對於企業從事企業社會責任之影響。在過去的研究中,多以配對方式進行分析,本文採用CSRHUB資料庫對於中國企業的評分與台灣經濟新報TEJ資料庫所提供之財報資料,研究資料期間為2008年12月至2014年8月共69個月,141家非金融企業,其中包含25家中央企業。 研究結果顯示股價報酬、營業利益率、股東權益報酬率與資產報酬率對於企業社會責任與四項組成指標之影響,有正向與負向顯著影響關係,但是在加入中央企業為虛擬變數後,報酬、財務績效與風險對企業社會責任的組成因素,社區與環境之影響變為顯著正向影響關係,且違約風險對於企業社會責任之影響也由負顯著相關變為正顯著相關,顯示中國企業受到政府宣導影響,較為注重社會發展與環境保護兩部分,而忽略了企業的員工權益與公司治理,企業應加強對於社會永續發展必須兼顧企業獲利與社會保護之意識。
Recently, corporate social responsibility plays an important role, it is consist of employment community, governance, employees and environment, thus, this study examines the effect of return financial performance and risk on corporate social responsibility, providing a new perspective on motivation of corporate social responsibility. We will add central enterprise to discuss what is the main reason of corporate to fulfill corporate social responsibility. Our sample with 69 monthly data about 141 of China corporation corporate social responsibility score from December, 2008 to August, 2014 from CSRHUB. Our finding suggests that central enterprise return, financial performance and risk is positive and significantly relation to corporate social responsibility, and government policy of China emphasis on sustainable society and environment protection.