|本期目录/Table of Contents|

[1]吴星泽,刘赛.上市公司履行社会责任的财务困境风险防范效应研究[J].长安大学学报(社科版),2021,23(02):61-74.
 WU Xingze,LIU Sai.Financial distress risk prevention effect of listed companiesperforming corporate social responsibility[J].Journal of Chang'an University(Social Science Edition),2021,23(02):61-74.
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上市公司履行社会责任的财务困境风险防范效应研究(PDF)
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《长安大学学报(社科版)》[ISSN:1671-6248/CN:61-1391/C]

卷:
第23卷
期数:
2021年02期
页码:
61-74
栏目:
经济与管理
出版日期:
2021-03-10

文章信息/Info

Title:
Financial distress risk prevention effect of listed companiesperforming corporate social responsibility
文章编号:
1671-6248(2021)02-0061-14
作者:
吴星泽刘赛
南京审计大学 会计学院,江苏 南京 211815
Author(s):
WU Xingze LIU Sai
School of Accounting, Nanjing Audit University, Nanjing 211815, Jiangsu, China
关键词:
为提高企业财务安全软边际降低企业陷入财务困境的风险选取2009~2019年沪深两市27 022个上市公司为样本以企业披露的社会责任信息为数据来源从防范财务困境风险角度实证检验了企业履行社会责任的经济后果。研究认为企业履行社会责任与财务困境之间存在经济上和统计上都显著的负相关关系且企业履行社会责任的质量越好越不容易陷入财务困境 非国有企业履行社会责任可以对财务困境起到较为显著的抑制作用而国有企业履行社会责任与财务困境之间的关系相对较弱。研究表明企业有意识地通过加大履行社会责任的投入和强化社会责任信息披露主动做好利益相关者管理建立良性利益相关者关系机制提高企业财务安全硬边际和软边际可以有效防止企业陷入财务困境。
Keywords:
corporate social responsibility financial distress financial security soft margin hard margin state-owned enterprise non-state-owned enterprises corporate scale corporate governance
分类号:
F270
DOI:
-
文献标志码:
A
摘要:
为提高企业财务安全软边际,降低企业陷入财务困境的风险,选取2009~2019年沪深两市27 022个上市公司为样本,以企业披露的社会责任信息为数据来源,从防范财务困境风险角度实证检验了企业履行社会责任的经济后果。研究认为,企业履行社会责任与财务困境之间存在经济上和统计上都显著的负相关关系,且企业履行社会责任的质量越好,越不容易陷入财务困境; 非国有企业履行社会责任可以对财务困境起到较为显著的抑制作用,而国有企业履行社会责任与财务困境之间的关系相对较弱。研究表明,企业有意识地通过加大履行社会责任的投入和强化社会责任信息披露,主动做好利益相关者管理,建立良性利益相关者关系机制,提高企业财务安全硬边际和软边际,可以有效防止企业陷入财务困境。
Abstract:
In order to improve the soft margin of financial security for enterprises and reduce their risk of falling into financial distress, this paper takes 27 022 companies listed on Shanghai Stock Exchange or Shenzhen Stock Exchange from 2009 to 2019 as samples, and empirically tests the economic consequences of enterprises fulfilling their social responsibilities from the perspective of preventing the risk of financial distress, using the corporate social responsibility information disclosed by the enterprises as data source. The study finds that there is an economically and statistically significant negative correlation between corporate social responsibility and financial distress. Companies which undertake higher quality corporate social responsibility are less prone to fall into financial distress. Such inhibiting effect is more significant in non-state-owned enterprises than in state-owned ones. This means that companies can effectively prevent financial distress by consciously increasing social responsibility investment and strengthening social responsibility information disclosure, performing stakeholder management properly, establishing a benign stakeholder relation mechanism, and improving the hard margin and soft margin of corporate financial security.

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备注/Memo

备注/Memo:
收稿日期:2020-09-20
基金项目:江苏省高校哲学社会科学研究重点项目(2018SJZDI068); 江苏省研究生科研与实践创新计划项目(KYCX19_1544); 江苏省社科应用研究精品工程财经发展专项(20SCB-28)
作者简介:吴星泽(1974-),男,江苏连云港人,教授,管理学博士。
更新日期/Last Update: 2021-03-10