Corporate Social Responsibility, Corporate Governance and Investment Efficiency

摘要

This paper examines correlation between the corporate social responsibility and investment efficiency by selecting 2013-2015 data sample of 43 companies on GEM and using principal component analysis and multiple regression analysis, and corporate governance as an intermediary variables into the research system, the establishment of intermediary effects model to explore the social responsibility, corporate governance, investment efficiency of the mechanism. The result show that corporate social responsibility has positive correlation with investment efficiency, that social responsibility information disclosure the better the quality, the higher the investment efficiency; and improving the corporate governance structure can improve the positive correlation between corporate social responsibility and investment efficiency, and by the concept of social responsibility into corporate governance among, and improve investment efficiency, and enhance corporate value.