مقاله سال ۲۰۱۶

The idea of corporate social responsibility (CSR) formed in the early 20th century was initially linked to industrialization in the United States. However, as large companies with increased power in the economy and society have emerged, CSR has become a matter of concern for all companies. Firm’s expansion makes the public pay attention not only the profit but also CSR. (KPMG, 2013) Indeed, since the 1990s, CSR ideology and stakeholder theory have presented a combined trend. Stakeholder theory provides not only a theoretical basis for the study of CSR, but also a suitable method for measuring CSR performance. The combination of these two theories thus dominates the traditional business objective of maximizing profit for shareholders and prompts companies to rather maximize the interests of all stakeholders (Freeman and Reed, 1983).

The past 30 years of rapid economic development in China has come at the expense of environmental and social costs. Therefore, the effectiveness of this development model needs to be reexamined thoroughly. For example, too much emphasis has been placed on economic growth, encouraging competition, and efficiency at the cost of fairness. In economic development, there is no corresponding emphasis on social development issues, which increases the risk of social unrest. Further, extensive economic development has entailed high energy consumption and high pollution and many local governments have exploited natural resources, damaging the ecological environment and even threatening national health.

To provide adequate growth while sustaining natural, economic, and social resources, China has proposed that publicly listed companies, as the most important part of the national economy, should become exemplars of social responsibility. A listed company that actively fulfills its social responsibility not only meets the expectations and requirements of stakeholders but also improves the efficiency and efficacy of its management, cultivates competitive advantage, creates a good image, and achieves sustainable development. CSR is not only the main way for companies to be involved in building a harmonious society but also an important guarantee of sustainable development. With the gradual expansion of the idea of CSR, the government’s positive advocacy, and the community’s active promotion, there is a positive trend among listed companies to fulfill their social responsibilities; indeed, the number of listed companies independently disclosing social responsibility reports is increasing annually.