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Academic Journal of Business & Management, 2021, 3(12); doi: 10.25236/AJBM.2021.031201.

Corporate Social Responsibility, Degree of Marketization and Enterprise Value


Zeyu Yan1, Rui Gong2

Corresponding Author:
Zeyu Yan

1Beijing University of Aeronautics and Astronautics, Beijing, China

2Nanjing University of Posts and Telecommunications, Nanjing, China


This paper focuses A-share listed companies in Shanghai and Shenzhen from 2010 to 2017, The influence of corporate social responsibility on the enterprise value is discussed, The degree of marketization as a regulatory variable is included in the process of this empirical analysis, Results found that: (1) The performance of social responsibility can promote the improvement of enterprise value, That is, corporate social responsibility has the role of responding to interest demands and transmitting signals, Promote enterprise value improvement; (2) The degree of marketization plays a reverse regulatory role in the relationship between corporate social responsibility and enterprise value, Businesses located in less marketable areas, The performance of social responsibility has a greater impact on the improvement of its corporate value. The result we get provide empirical support for enterprises to fulfill social responsibilities conducive to their development and corresponding policy advice for the government.


corporate social responsibility, degree of marketization, enterprise value

Cite This Paper

Zeyu Yan, Rui Gong. Corporate Social Responsibility, Degree of Marketization and Enterprise Value. Academic Journal of Business & Management (2021) Vol. 3, Issue 12: 1-5. https://doi.org/10.25236/AJBM.2021.031201.


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