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Corporate Social Responsibility Perspective of Corporate Governance Research

Author: XiongLin From: www.yourpaper.net Posted: 2010-02-08 00:10:44 Read:
Abstract: The problem of corporate governance in the corporate social responsibility oriented corporate governance research has become a new trend. The theory of interest related to the connecting link to the right social responsibility into corporate governance mechanism, and thus establish the various stakeholders to participate in the corporate governance model is a beneficial to the optimal choice. Social responsibility perspective, to explore how to build the four stakeholders to participate in the corporate governance mechanism.
Keywords: social responsibility; corporate governance; stakeholders

Governance in all walks of life in China in 2008 is known as "the first year of the corporate social responsibility", the road has gone through a severe test of social responsibility for the fuse. From the South, the Wenchuan earthquake, and then to lead the national dairy industry as a whole to lose the trust of the melamine-tainted milk powder incident, the social responsibility of Chinese enterprises in these natural disasters caused great concern of the whole society. Corporate Social Responsibility has been a historic, international enduring topic. Interests where there is contradiction highlights. In the context of long-term advocate of corporate financial goals to maximize shareholder value, the pursuit of the interests and fulfill their social responsibilities weigh inevitably become the focus of debate.
The view of some of the companies too much emphasis on profitability goals and ignore the social responsibility behavior endangering the development of the socialist market economy, our government and expert members have issued some guidelines on policy, and this symposium. The detailed provisions enacted in 2006, the new Companies Act must reflect the social responsibility of companies in the course of business outside the box. September 25, 2006, the Shenzhen Stock Exchange issued a "listed on the Shenzhen Stock Exchange corporate social responsibility guidelines, the guidelines indicate that the social responsibility of the listed companies is a listed company on the all-round development of the state and society, the natural environment and resources, as well as shareholders, creditors, employees, customers, consumers, suppliers, communities and other stakeholders should bear the responsibility, the company social responsibility report and annual report disclosed. Guidelines opinions "issued in December 2007 SASAC central enterprises to fulfill their social responsibility, central enterprises shoulder social responsibility, clear regulations and requirements. Held in Shanghai on May 11, 2009 "listing of corporate social responsibility seminar once again clearly the importance of social responsibility to increase the value of the company. Visible, social responsibility has become a new field of the study of corporate governance, has certain practical significance from the perspective of social responsibility to analyze the related issues of corporate governance.
Academic research on corporate governance and social responsibility, based on the stakeholder theory build bridges from research framework. This article from the following aspects to do a series of studies. First, social responsibility, corporate governance with stakeholders between connotation definition of contact analysis of the need to introduce social responsibility in corporate governance. Secondly, through stakeholder participation, to explore how to build social responsibility-oriented corporate governance mechanism. Finally, the theorists of Empirical Research on social responsibility, corporate governance and corporate economic performance.

The 1 social responsibility, corporate governance and stakeholders connotation Contact

About Corporate Social Responsibility CSR (corporate social responsibility) defined in theoretical circles rather controversial. The main focus of the debate focused on social responsibility attribution category, mainly summed up in the dimension of social responsibility from the point of view you can do the following classification:
The first is a two-dimensional definition, such as Steiner (1980) and Gallo (1980) divided into intrinsic social responsibility and external social responsibility CSR; the domestic the scholar Lu-generation rich (2001), Liu Fengjun (2007), Corporate Social Responsibility is divided for the two dimensions of the legal and moral responsibility (or non-legal responsibility).
Second three-dimensional representation defined as follows: United States Committee for Economic Development, 1971, the content of social responsibility as three concentric circles, the inner ring most basic responsibility of corporate responsibility, that the effective implementation of the economic functions, the responsibility of the center circle with the changes in the social value of the responsibility for the implementation of the economic functions of the outer ring of responsibility is actively involved in the responsibility of improving the social environment. The domestic scholars Jiangqi Jun Gu Liang (2008) from the overall point of view, corporate social responsibility has three levels: the first layer the minimum responsibility requirements, such as the integrity of the employees, safeguard the legitimate rights and interests of the employees and to create a good working environment ; second layer of responsibility to go beyond the minimum active duties; The third layer of responsibility is the pursuit of the highest goal of the responsibility, CSR as the pursuit of the enterprises themselves, such as the responsibility of the public environment.
Third four-dimensional definition of the point of view of the currently popular theoretical circles identity. The highest attention to the four-level model (Carroll, 2000), that economic responsibility, legal responsibility, moral responsibility and charitable responsibility. Economic responsibility enterprises in economic activities undertaken by the economic responsibilities, such as providing acceptable quality and fair price products, to meet the material needs of shareholders, employees and business survival, take the initiative to pay taxes; liability refers to enterprises according to law rights must bear the responsibility of the law, such as to comply with state laws and regulations, for law; moral responsibility is the responsibility should be borne by the enterprises based on social and moral requirements, such as fair competition, consciously constrained their own behavior; charitable responsibility is willing to take the responsibility of enterprises based on social values ??and social expectations of the vulnerable groups, such as care for the community to participate in social welfare undertakings, donations to charitable institutions. In this paper, the point of view of the four-dimensional theory defined social responsibility, because later the stakeholder theory proposed also contains into these four categories.
Corporate governance structure of the legal system of rights arrangements and the distribution of benefits among stakeholders. It is reasonable configuration, the rights and obligations of stakeholders is the core of building a mechanism of trade-offs. Its main purpose is a reasonable structure under the arrangement, the configuration of the rights and responsibilities among stakeholders, and ultimately to achieve the objectives of the enterprise.
Stakeholder theory is put forward on the basis of the theory "above the" Shareholders, it believes that in the process of production and operation, not only to consider the interests of the shareholders, but also consider the creditors, employees, consumers, suppliers, the interests of the government, community, public and other stakeholders. Enterprise is not just the shareholders of the enterprise, but also of all stakeholders in the enterprise. Follow common governance model of corporate governance, social responsibility into the corporate governance process, can be said for the "most closely related to the theoretical framework of corporate social responsibility (Wood, 1995).
The ultimate goal of the enterprise in stakeholder theory appears and then a new interpretation, that is, to weigh the interests of the various stakeholders maximize. Model of corporate governance has also experienced a unilateral governance changes to multilateral governance, its ultimate goal is the make each of the other stakeholders, including shareholders, creditors, employees, consumers, suppliers, government, community, public interests . All in all, the unification of the social responsibility and corporate governance both in the theory and practice of the stakeholders, corporate governance, corporate social responsibility to be implemented, corporate social responsibility to promote effective corporate governance improvements and benign development.

2 establish the structure of corporate governance, social responsibility oriented: to stakeholders involved in the premise

Essence of corporate social responsibility: stakeholders interests relationship between companies and their operators and owners of capital beyond expectations and Reconstruction of the realization of sustainable development mechanism (Lu-generation Fook, 2002). From the point of view of corporate governance, stakeholders can be summarized as shareholders, creditors, employees and external body into four categories. Social responsibility entails generated in the production and operation of the process, in order to meet the inherent requirements of the stakeholders, shareholders, creditors, employees and external body assumed an obligation and responsibility.
2.1 to shareholders social responsibility
Shareholders can be divided according to the stake for the controlling shareholders and non-controlling shareholders. China's state-owned shares due to the dominance of the shareholding structure of the Company mode, the interests of the controlling shareholder tend to get very good protection, often by different ways against the interests of minority shareholders. Wang Jianqiong, Jing Yi (2009) empirical analysis of the state-owned holding company will be better than the non-state-owned holding company's commitment to social responsibility. Visible, the actual performance of social responsibility in the different controlling shareholder class is different. In our country, in view of the interests of minority shareholders can not be guaranteed, and should strengthen the maintenance of the social responsibility of small shareholders, improve the internal corporate governance mechanisms.
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