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.
LI Qian,XIONG Jie,HUANG Han. An Empirical Research of Corporate Social Irresponsibility on Financial Performance[J]. Chinese Journal of Management, 2018, 15(2): 255-.
