A Study on the Relationship between Corporate Social Responsibility and Corporate Growth
|School||Southwestern University of Finance and Economics|
|Keywords||Corporate Social Responsibility Stakeholders Enterprisegrowth Pharmaceutical manufacturing|
Responsibility that is often accompanied by "pay" is seen as a sacrifice. So people don’t like seeking freedom and rights to fulfill responsibility, they always inadvertently escape liability and alienation. When escaping responsibility generally occurs, Liability issues would inevitably become the focus of widespread concern and problems which need to be constantly strengthened. Enterprises are the basic cells of social economy. During in the pursuit of self-interest maximization, they are hard to avoid touching the interests of other stakeholders, so as to cause the dissatisfaction of relevant interest groups. The improvement of legal system and strengthening of consumer ego to protect consciousness, call and movement are intensified. Forcing enterprises to fulfill social responsibility is on the strategic height. Fulfilling social responsibility is not only beneficial to the setting up enterprise good social image, but also can improve its core competitiveness in order to lay a good foundation for the enterprise’s sustainable development. In terms of theory, compared with western countries, the study of corporate social responsibility in China was more than seventy years later. Though there has been formed with Chinese characteristics of the corporate social responsibility theory, compared with developed countries there is still a large gap. In terms of practice, Awareness and consciousness of social responsibility are relatively weak in the developed countries, so that events which enterprises damaged the interests of consumers happened quite often.Pharmaceutical manufacturing industry has the role of escort on human health and life safety. As the population aging and increasing stress in your life, Sub-health is gradually eroding the people from all walks of life. Pharmaceutical manufacturing is based on this vast consumer market and consumer demand to produce various kinds of drugs. With the pharmaceutical manufacturing industry intensifying competition, many enterprises who also unavoidable are without regard to the social responsibility produce goods which are shoddy, and maximized self-interest in the case of a break through the moral bottom line. For a long time, drug problems happened. From the initial heartleaf houttuynia herb injection event to the recent poison capsule event, the pharmaceutical manufacturing enterprises become the focus of discussion. The social have given unprecedented attention that pharmaceutical manufacturing enterprises whether should fulfill social responsibility and fulfill degree. In line with the attitude of responsible for society and the related interest groups,"Enterprises should fulfill social responsibility" is indisputable conclusion. But based on the essence of enterprise profit, Enterprises pay more attention to social responsibility how to affect its own survival and development. That is simple to increase the burden of enterprises or to improve enterprise economic benefits and at the same time to realize win-win situation of enterprise and society. On the one hand the social call for pharmaceutical manufacturing to fulfill social responsibility. On the other hand, pharmaceutical manufacturing enterprises are faced with the challenge of continued growth. As a for-profit social economic organization, Pharmaceutical manufacturing enterprise must associate with own development and internal and external various interest groups, in order to seek growth at the same time bear the social responsibility. Thus it can achieve enterprise’s sustainable growth as well as make contributions to the construction of a harmonious and beautiful society.This paper is based on the idea to study the relationship between social responsibility of pharmaceutical manufacturing enterprise and the growth.This article is divided into six parts, each part content summarized as follows:The first part is the introduction. First of all, this part analyzed this article selected topic background and research purpose, and on this basis was clear about the important practical significance about social responsibility of medicine manufacturing industry of corporate. Then this part narrated the research content and logic framework and main contribution. This paper argues that research that is about the relationship between corporate social responsibility and growth may accumulate relevant empirical evidence and play a guiding role for continuing healthy growth.The second part is the theoretical review and literature review. This part combed the concept of social responsibility, and on this basis defined it. Then, this part introduced the stakeholder theory, corporate citizenship theory and enterprise sustainable growth theory that provided the theoretical support and bedding for subsequent empirical research.The third part is theory research about the relationship between corporate social responsibility and enterprise growth. This part theoretically distinguished and defined the concept of development and growth. Enterprise growth can refer to their own development through continuous mining process of the resource potential in order to gain the ability of the sustainable value of enterprise value that are mainly composed of asset value, the expansion of scale, competitiveness enhancement, etc. Growth is a strong developing trend, and this trend has the long term.The fourth part briefly discussed the situation that our country medicine manufacturing industry performs the social responsibility. This part firstly analyzed the present situation of our country medicine industry to fulfill the social responsibility. Then this part discussed our country medicine manufacturing industry performance and reasons of lack of corporate social responsibility.The fifth part the empirically analyzed the relationship between corporate social responsibility and corporate growth of the medicine manufacturing industry listed companies. According to the theory this part firstly put forward two hypotheses. Secondly this part designed relevant variables, and selected three consecutive the data from2009to2011as sample. At the same time, this paper briefly introduced the empirical analysis process used in the data source, and used Exce2003and Stata12.0to process the data and to verify assumptions.The sixth part included the conclusion and limitations. This part firstly summarized the conclusions of empirical part, and on this basis pointed out the problems and the limitation of the study. Then the conclusion and the reasons were analyzed.Contributions of this paper are mainly manifested in the following three aspects:The first aspect is the study of industry. Through reading and summary the literature, there are many predecessors’studies on top of all industries. Especially, literature is from the medicine manufacturing industry as the breakthrough point.The second aspect is index selection. The implementation of social responsibility should be widely pay close attention to the interests of all stakeholders. If companies ignore the responsibility for any of the stakeholders, that will cause adverse effect to the growth of the enterprise. Based on long pharmaceutical manufacturing research and development cycle and serious environmental pollution, this article selected the social income contribution rate as a measure of corporate social responsibility and environmental responsibility, at the same time chose capital value increment rate as the measuring index of enterprise growth. The last aspect is research conclusion. The author hope that through analyzing current situation that our country medicine manufacturing industry performs social responsibility and studying its relation with corporate growth, it helps to make our country medicine manufacturing industry in the aspect of performance of social responsibilities become passively to actively. And the companies can consider their long-term growth in pursuit of short-term profits. Finally it helps to prompt the pharmaceutical manufacturing industry benign.