Relationship between Corporate Social Responsibility and Corporate Value of Listed Forestry Companies: A case study in China

Abstract

In this study, a sample of 100 was obtained from 20 listed forestry companies in China to explore the relationship between corporate social responsibility and corporate value for the period 2013 to 2017. The study concentrated mainly on corporate social responsibility to the shareholders, creditors, suppliers, consumers, employees, government and community and how it influence corporate value. In front of the covid-19, companies are facing market pressure and non-market pressure in fulfilling their social responsibilities The SPSS statistical software was used for analysis. The result shows a positive relationship between corporate responsibility to shareholders, creditors, employees, consumers, suppliers and government and corporate value. In a short period, the enterprise's donation would bring down the enterprise's value, but in the long-run, the enterprises that donate more would experience an increase in enterprise's value. The positive effect of corporate social responsibility on the enterprise value of forestry-listed companies is not obvious in the short term.