Lech 1 2 Coffey and Jia Corporate Financial Performance CFP CSP CFP 9 Preston O Bannon 10 CSP CFP Margolis et al Sun abd

Size: px

Start display at page:

Download "Lech 1 2 Coffey and Jia Corporate Financial Performance CFP CSP CFP 9 Preston O Bannon 10 CSP CFP Margolis et al Sun abd"

樱台傅
5 years ago
Views:

1 DEA-Tobit CSR DEA-Tobit DEA-Tobit F A DOI: /j.cnki.ier Corporate Social Responsibility CSR GDP % GDP % Corporate Social Performance CSP JJD &ZD022 21

2 Lech 1 2 Coffey and Jia Corporate Financial Performance CFP CSP CFP 9 Preston O Bannon 10 CSP CFP Margolis et al Sun abd Stuebs U 19 22

3 INDUSTRIAL ECONOMICS RESEARCH Freeman 20 stakeholder 21 1 X p px X Y R X = X a + X b 1 1 X a Y X b R X X a X b R R = r X b X b R V Z V = ν R ν R Z R Z VV = ν R Z = ν r X b Z V = g X b Z r v Z g Z X b Y 23 2

4 Y = f X a V T T X a V max X a X bπ = Y - px = f Xa g X b Z T - px π X b = - f X a 3 + f V ν X b = X b f V ν X b X a f X a X a X b 0 X R V Z * f V ν X < f b Z = Z X b 0 X X = X a + X b * X axa π X b < 0 X Xa X b t t X t p t p t X t X t X t = X a t + X b t t = 1 2 Y t R t X a t R t = r X b t X b t R t t t V t t - 1 R t -1 t Z t V t = ν R t -1 Z t = ν r X b t -1 Z t

5 INDUSTRIAL ECONOMICS RESEARCH 7 V t = g X b t -1 Z t Y t Y t = f X a t V t T t = f X a t g X b t -1 Z t T t t maxπ = lim X a t Xb t n n t = 1 Y t = f X 1 a g 0 - p t X t = lim f X a n n t g X b t -1 Z t T t - p t X t t = 1 Z 1 T 1 - p 1 X 1 + f X 2 a g X 1 b Z 2 T 2 - p 2 X f X a t g X b t -1 Z t T t - p t X t X a t t = 1 2 π t = i π X b i X b t = - f X a i + f V i ν X b i -1 = f ν X V i a f X b i i -1 X a i t = n X n = X a n π < 0 X a t X b t 0 X t X b t t X t π = 0 X a t 0 X t X b t X b t X a X b X t Z t KLD DEA 25 X b i -1

6 DEA Banker et al 1984 BCC CCR Charnes et al 1978 TE PTE SE CPI CR Magazine 100 Osiris CPI TE 0 ~ 1 DEA-Tobit DEA Tobin 1958 Censored Regression Model Tobit Tobit TE lnasset AL SOE TE i t = α + β 1 CSP i t + β 2 CSP i t γ 1 lnasset i t + γ 2 AL i t + γ 3 SOE i t + ε i t 12 TE i t = α + βcsp i t + γ 1 lnasset i t + γ 2 AL i t + γ 3 SOE i t + ε i t 13 TE i t = α + βcsp i t -1 + γ 1 lnasset i t + γ 2 AL i t + γ 3 SOE i t + ε i t

7 INDUSTRIAL ECONOMICS RESEARCH 1 TE TE 0 ~ 1 = 100 /100 = CSP CSP 100 / 100 CSP1 CSP CSP lnasset AL = / / / SOE DEAP TE PTE SE TE PTE SE Tobit Tobit DEA McDonald 24 DEA * CSP DEA-Tobit CSP *** *** GLS *** lnasset AL *** *** *** GLS _cons *** *** *** sigma_u *** *** *** sigma_e 1 P 2 * ** *** 10% 5% 1% 27

8 4 CSP Tobit GLS Tobit Tobit GLS CSP *** *** lnasset *** *** *** *** *** AL *** *** *** *** *** SOE *** *** *** *** *** _cons *** *** *** *** *** sigma_u *** *** *** sigma_e *** *** *** 1 P 2 * ** *** 10% 5% 1% 4 DEA DEA DEA 28

9 INDUSTRIAL ECONOMICS RESEARCH DEA DEA DEAP2. 1 BCC - DEA A B DEA TE A 6 12 B A 13 B A 14 B CSP *** *** CSP lnasset *** *** *** *** *** *** AL *** *** *** *** *** *** _cons *** *** *** *** *** *** sigma_u *** *** *** *** *** *** sigma_e *** *** *** *** *** *** 1 P 2 * ** *** 10% 5% 1% TE A 7 12 B A 13 B A 14 B CSP CSP ** ** ** lnasset *** *** *** *** *** *** AL *** *** *** *** *** *** SOE * *** *** * *** _cons *** *** *** *** *** *** sigma_u *** *** *** *** *** *** sigma_e *** *** *** *** *** *** 1 P 2 * ** *** 10% 5% 1% CSR 29

10 DEA - Tobit 1 Lech A Corporate Social Responsibility and Financial Performance. Theoretical and Empirical Aspects Comparative Economic Research J Coffey B. S. Jia W Board Diversity and Managerial Control as Predictors of Corporate Social Performance Journal of Business Ethics J J J J J J Preston L. E. O' Bannon D. P The Corporate Social-Financial Performance Relationship A Typology and Analysis Business and Society J J Margolis J. D. Elfenbein H. A. Walsh J. P Does It Pay to be Good A Meta-analysis and Redirection of Research on the Relation between Corporate Social and Financial Performance Working Paper J Sun L. Stuebs M Corporate Social Responsibility and Firm Productivity Evidence from the Chemical Industry in the United States Journal of Business Ethics J J J

11 INDUSTRIAL ECONOMICS RESEARCH 19 Friedman M The Social Responsibility of Business Is to Increase Its Profits New York Times Magazine Freeman R. E Strategic Management A Stakeholder Approach Boston Pitman /Ballinger Mohr L. A. Webb D. J The Effects of Corporate Social Responsibility and Price on Consumer Responses Journal of Consumer Affairs J J McDonald J Using Least Squares and Tobit in Second Stage DEA Efficiency Analyses European Journal of Operational Research Pastor J. T Translation Invariance in Data Envelopment Analysis A Generalization Annals of Operations Research TE = PTE SE 2 CPI http / /www. stats. gov. cn / 3 CPI http / /www. bls. gov / Mechanism of Corporate Social Responsibility Influencing on Technical Efficiency of Large-scale Corporations in China and USA Based on the DEA-Tobit Two Step Method DING Yibing 1 FU Lin 2 1. Center for China Public Sector Economy Research Jilin University Changchun China 2. School of Economics Jilin University Changchun China Abstract Firstly a behavior of the selection process model is built to explain how corporate social responsibility CSR is fulfilled. Secondly under the intertemporal condition when the marginal product of fulfilling corporate social responsibility during the last period is equal to the marginal product of direct production in current period the corporate efficiency is optimized. After this corporate social responsibility influencing on technical efficiency of large-scale corporations in China and USA is estimated based on the DEA-Tobit two step method. The results show that the corporate social performance increases the technical efficiency in the same year in USA while the corporate social performance in last year increases the technical efficiency in current year in China because stakeholders in USA response on CSR is faster than stakeholders in China. Key words corporate social responsibility corporate social performance technical efficiency DEA-Tobit large-scale corporations lagging effects 31

,, ( ) ( ) Farell (1957),, (2003) (1999) DEA DEA, 14 (2000) DEA , (2001) (2001) 5 (2002) DEA Malmquist, , (2003) (2003) DEA (2004) D

,, ( ) ( ) Farell (1957),, (2003) (1999) DEA DEA, 14 (2000) DEA , (2001) (2001) 5 (2002) DEA Malmquist, , (2003) (2003) DEA (2004) D 3 (, 250001 ;, 250100) : DEA,,, ;, U, : ; ;DEA ; :F830 :A :1002-7246(2005) 01-0091 - 11,, (,2004), (,2004),, 25 DEA,,, ; DEA, ;, ; :2004-11 - 20 : (1970 - ),,,,, (1968 - ),,,, 3 [ ] ( :02BJ Y127) 91 ,,