The Empirical Study of Correlation between Food Industry's Corporate Social Responsibility and Enterprise Value

摘要

Based on stakeholder theory, through an empirical analysis of the enterprises in food manufacturing industry which people are very concerned about, the study researched the correlation between food enterprises' Corporate Social Responsibility (CSR) and enterprise value. The result of the study indicated that food enterprises fulfilling the responsibility to shareholder was significantly positively related to enterprise value and fulfilling the responsibility to the creditors, suppliers, consumers, government and society donation had a not significantly positive correlation with corporate value. But the responsibility to the staff has a not significant negative correlation with enterprise value, indicating that food companies should enhance the concern of efficiency for human input.