資源描述:
《社會責任、融資約束與企業(yè)投資行為——基于中國A股上市公司的實證研究.pdf》由會員上傳分享,免費在線閱讀,更多相關內容在學術論文-天天文庫。
1、CORPORATESOCIALRESPONSIBILITY,FINANCIALCONSTRAINTSANDCORPORATEINVESTMENTBEHAVIOR:BASEDONANEMPIRICALSTUDYOFASHARELISTEDFIRMSINCHINAABSTRACTSince1924thefirsttimecorporatesocialresponsibilityorCSRhasbeenproposed,ithasdrawnmoreandmoreatentionsacrosstheworld.F
2、romthebeginningofthe21stcentury,ChinesegovernmentandrelativeinstitutionsalsopayattentiontotheconstructionofCSRregulations.FirmsalsorealizethatCSRmayinfluencetheirvalue,competitivepowerandfinancialactivities.Investmentactivitiesplayanimportantroleinthedeve
3、lopmentofthecompany,andhaveacloserelationshipwiththefirms'valueandcompetitivepower.Therefore,thisessaytirestofigureouttheimpactofCSRonthefirms'investmentbehaviorwiththeconsiderationofthefinancialconstraints,toexaminewhetherthefulfillmentofCSRcanrelievethe
4、firms'financialconstraintsandtoinfluencetheirinvestmentbehavior.Basedonthereviewoftheexistingliteratureandtheanalysisoftherelativetheories,includinginformationasymmetrytheory,thepeckingordertheoryandprincipal-agenttheory,thisessaychose2010-2013panelhidata
5、oftheAsharelistedcompaniesfromShanghaiandShenzhenstockexchangeofChinaasaresearchsample,usingtheempiricalresearchmethodtoanalyzetherelationshipoftheCSR,financialconstraintsandfirms'investmentbehavior.Thisessaycomesupwiththefollowingfourresults:first,theful
6、fillmentofCSRhaveapositiveimpactonfirms'investmentbehavior;second,thereisanegativerelationshipbetweenfirms'financialconstraintsandinvestmentbehavior;third,thefulfillmentofCSRcanrelievethefirms'financialconstraints,andthenaffecttheirinvestmentbehavior;fort
7、h,thefulfillmentofCSRoftheSOEandnon-SOEhavedifferenceinrelievingfirms'financialconstraints.Finally,accordingtotheempiricalanalysisresults,thisessayputsforwardtworelativesuggestions.KEYWORDS:CorporateSocialResponsibility;FinancialConstraints;CorporateInves
8、tmentBehavior目錄第一章引言第一節(jié)研宄背景第二節(jié)相關概念界定第三節(jié)研究意義第四節(jié)研究內容及框架第五節(jié)本文的創(chuàng)新點第二章國內外相關文獻綜述第一節(jié)國外相關文獻綜述第二節(jié)國內相關文獻綜述第三節(jié)文獻述評第三章理論基礎及研究假設第一節(jié)理論基礎第二節(jié)研宄假設第四章研究設計第一節(jié)樣本選取與數(shù)據(jù)來源第二節(jié)變量選取與計量第三節(jié)研宄模型第五章實證研究第一節(jié)描述性統(tǒng)計分析第二節(jié)相關性分析第三節(jié)融資約束指標構建第四節(jié)實證回歸結果分析第五節(jié)