An Empirical Study on the Relationship Between Corporate Social Responsibility and Corporate Performance in Small and Medium-Sized Enterprises

Abstract

AbstractSmall and medium-sized listed companies from 2010 to 2018 are taken as a sample to empirically research the relationship between corporate social responsibility (CSR) and corporate performance from the stakeholder perspective. There appears to be a significant positive correlation between CSR and corporate performance in the sample enterprises. Shareholders, creditors, customers, suppliers, employees, and government are selected as the main stakeholders in small and medium-sized enterprises; the relationship between the social responsibility of different principal parts of interest and corporate performance is further examined. The results show that in small and medium-sized enterprises that bear the social responsibility of shareholders, customers, suppliers, and government have significantly positive effects on corporate performance. In small and medium-sized enterprises which bear the social responsibility of creditors and employees, these parts of interest have significantly negative effects on corporate performance.KeywordsCorporate social responsibilityCorporate performanceSmall and medium-sized enterpriseStakeholder