企业所有权性质不同，企业承担的社会责任不同。在高质量发展背景下，企 业对利益相关者的影响越来越大，企业社会责任受到的关注越来越多。现实表明， 企业社会责任内涵日益丰富，企业社会责任及其影响的相关问题一直是热点话题。 企业社会责任的影响是多方面的,企业社会责任在所有权性质不同的企业间存在 较大的差异，对财务绩效的影响各不相同。本文假设企业社会责任对财务绩效存 在一定程度上的影响作用并且企业社会责任对非国有企业财务绩效的影响比国 有企业更为积极，并进行实证检验。 本文梳理了国内外相关研究文献，通过对相关理论基础和企业社会责任对财 务绩效的影响机理分析，基于所有权异质性，选取我国润灵环球责任评级进行社 会责任评分的共851家A股上市公司2014-2018年的数据为样本构建模型，实证 分析了上市公司企业社会责任与财务绩效的关系，一方面，研究了企业社会责任 对财务绩效产生的影响；另一方面，研究了具有不同所有权性质上市公司的社会 责任与财务绩效的关系。结论表明：企业社会责任与财务绩效呈正相关关系且企 业社会责任对非国有企业财务绩效的影响比国有企业更为积极。并对结论进行了 解释。最后，基于所有权异质性，对国有企业和非国有企业如何通过履行企业社 会责任提升财务绩效提出了具体的建议。 关键词：企业社会责任；财务绩效；所有权异质性；国有企业；非国有企业 ii ABSTRACT The nature of enterprise ownership is different, and the social responsibility of enterprise is different. In the context of high-quality development, enterprises have more and more influence on stakeholders, and more and more attention has been paid to corporate social responsibility. The reality shows that the connotation of corporate social responsibility is increasingly rich, and the related issues of corporate social responsibility and its impact have always been a hot topic. The impact of corporate social responsibility is multifaceted. There are great differences between enterprises with different ownership nature, and the impact on financial performance is different. This paper assumes that corporate social responsibility has a certain impact on financial performance, and the impact of corporate social responsibility on the financial performance of non-state-owned enterprises is more positive than that of state-owned enterprises and carries out empirical test. Based on the analysis of the relevant theoretical basis and the mechanism of corporate social responsibility's impact on financial performance, this paper selects the data of 851 A-share listed companies in 2014-2018 from China's Rankins CSR Ratings for social responsibility rating as samples to build a model, and empirically analyzes the corporate social responsibility and financial performance of listed companies On the one hand, it studies the impact of corporate social responsibility on financial performance; on the other hand, it analysis the relationship between corporate social responsibility and financial performance with different ownership. The conclusion shows that there is a positive correlation between corporate social responsibility and financial performance, and the impact of corporate social responsibility on financial performance of non-state-owned enterprises is more positive than that of state-owned enterprises. The conclusion is explained. Finally, based on the heterogeneity of ownership, this paper puts forward specific suggestions on how to improve the financial performance of state-owned enterprises and non-state-owned enterprises by fulfilling corporate social responsibility. Keywords: Corporate social responsibility; financial performance; ownership heterogeneity; state-owned enterprises; non-state-owned enterprises 湖南科技大学硕士学位论文 目 录 摘要.............................................................. i ABSTRACT ........................................................ ii 第1章 绪论 ....................................................... 1 1.1研究背景与意义 ................................................................................................................................ 1 1.1.1研究背景 ................................................................................................................................. 1 1.1.2研究意义 ................................................................................................................................. 1 1.2研究内容与研究结构 ...................................................................................................................... 2 1.2.1 研究内容 ................................................................................................................................ 2 1.2.2 研究结构 ................................................................................................................................ 2 1.3研究思路与研究方法 ...................................................................................................................... 3 1.3.1 研究思路 ................................................................................................................................ 3 1.3.2 研究方法 ................................................................................................................................ 4 1.4研究创新与不足之处 ...................................................................................................................... 5 1.4.1本文创新之处 ........................................................................................................................ 5 1.4.2本文不足之处 ........................................................................................................................ 5 第2章 文献综述与理论基础 ........................................ 7 2.1 文献综述 ............................................................................................................................................ 7 2.1.1 企业社会责任的内涵研究 ............................................................................................... 7 2.1.2 企业社会责任的目的研究 ............................................................................................... 9 2.1.3 企业社会责任的度量研究 ............................................................................................. 10 2.1.4 所有权异质下的企业社会责任研究 ........................................................................... 11 2.1.5 企业社会责任与财务绩效关系的研究 ...................................................................... 12 2.1.6文献述评 ............................................................................................................................... 14 2.2 理论基础 .......................................................................................................................................... 15 2.2.1 企业社会责任理论 ........................................................................................................... 15 2.2.2 利益相关者理论 ................................................................................................................ 16 2.2.3 委托代理理论 .................................................................................................................... 17 2.2.4 信号传递理论 .................................................................................................................... 18 2.3相关概念界定 .................................................................................................................................. 19 2.3.1所有权异质性 ...................................................................................................................... 19 2.3.2企业社会责任 ...................................................................................................................... 20 2.3.3企业财务绩效 ...................................................................................................................... 20 第3章 研究设计 .................................................. 23 3.1 理论分析 .......................................................................................................................................... 23 3.1.1 企业社会责任影响财务绩效的机理 ......................