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| 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 |
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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.
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Received: 20 April 2017
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