An Empirical Research on the Relationship between Corporate Social Responsibility and Performance in Beijing-Tianjin-Hebei Region: A Case Study of Listed Companies in Shanghai and Shenzhen Stock Exchanges

According to Stakeholder Theory, the author of the article conducted a research on the influence of corporate social responsibility (CSR for short) on its performance by using the Structural Equation Modeling (SEM for short). On the basis of the research results of available literatures, setting up an assumptive Conceptual Model indicating the relationship between the factors of corporate social responsibility and the factors of its performance, selecting the annual report data of 138 listed companies in Beijing-Tianjin-Hebei region in the 5 consecutive years from 2005 to 2009 as research sample, the author conducted hypothesis testing through the Structural Equation Modeling. The result is that CSR for creditors has a positive effect on a company's performance. CSR for shareholders has the same effect on financial performance rather than on operating performance. Generally speaking, CSR causes great effects on a company's performance, the more responsibility for stakeholders, the better a company's performance.