An Empirical Research of Corporate Social Irresponsibility on Financial Performance
LI Qian,XIONG Jie,HUANG Han
1.Shanghai International Studies University, Shanghai, China; 2. ESC Rennes School of Business, Rennes, France; 3. Wuhan Technology and Business University, Wuhan, China
Abstract:From the external perspective, this study divides corporate social behaviors into positive and negative externalities, namely “doing good” (CSR) or “doing bad” (CSiR). We use 3 773 global listed companies from 1998~2015 as samples, studying the influences of two types of social behaviors on financial performance. The results show that the “doing good” has an inverted U shape impact on financial performance, that is, it has a significant positive impact at first, and to a certain critical value, changes into a negative impact; while “doing bad”, that is corporate social irresponsibility, is on the contrary, which has a U-shaped impact on financial performance, that is, it has a significant negative impact at first, and to a certain critical value, has a positive impact.
李茜,熊杰,黄晗. 企业社会责任缺失对财务绩效的影响研究[J]. 管理学报, 2018, 15(2): 255-.
LI Qian,XIONG Jie,HUANG Han. An Empirical Research of Corporate Social Irresponsibility on Financial Performance. Chinese Journal of Management, 2018, 15(2): 255-.