基于企业生命周期的社会责任财务目标体系的构建外文翻译

1、企业社会责任的财务回报,商界领袖的道德自由与责任摘要一些理论家提出的机制，表明企业的社会责任产生更好的财务业绩。本文包含这些从进化博弈论与自然的观察角度的分析。基于上述分析，可以得出结论，企业的社会责任和不负责任（csr和csi）的财务回报是大相径庭的。对于这个结论的解释是，csr和csi驱动到一个平衡的状态，因为如果一个或其他人提供更高的利润，它会吸引更多的玩家以竞争的最好机会，直到平均利润没有差异，。现有的实证研究表明企业社会责任和企业财务业绩之间呈正相关。也有人认为，造成这一结果的可能不是企业社会责任，而是管理技能。更多熟练的管理人员，无论是负责任的或不负责任的，在不完善的企业社会责任体

2、系中也能够获得更高的利润和更大的可信度。接下来，本文将表明，这个公平的回报理论，意味着更大的道德自由，以及企业领导者的责任感。本文的结论是在大力倡导社会责任的企业，这种洞察力可以加强商界领袖们的利益。引言一个已超过35年的研究已经正在进行，以确定企业社会责任（csr）是否会产生较高的财务回报（马戈利斯和沃尔什2003年，第273）。例如，马戈利斯认为在小的社会团体中一个企业为该团体付出更多的资源，也可能会获得更好的长期利益，这种做法可能会使企业更容易吸引想要工作的雇佣者，可能会降低雇佣者的薪酬。carroll (1999)将企业社会责任分为四个部分：经济、法律、道德以及判断力。这种说法也就是，

3、只有在遵守法律、社会道德习俗和诚实谨慎的条件下才能最大化企业的利益。社会责任改善企业财务回报的争论csr会导致更强的财务回报的解释主要围绕创建利益相关者来进行展开（琼斯1995年，1992年科特和赫斯克特普费弗1998年; reichheld 1996年，乌尔曼1985 waddock和格雷夫斯1997年）。各个角度的描述，包括利益相关者理论（琼斯1995年），良好的管理理论（waddock格雷夫斯1997年），智能化、适应性管理（科特和赫斯克特1992年），以及忠诚度的影响（reichheld 1996）。一个广泛的特定优势已被描述。通过更大的满意度和自豪感向客户提供卓越的价值，以增加员工的

4、忠诚度，（reichheld 1996）。此外，csr可能会使其更容易吸引更好的员工（waddock格雷夫斯1997年）。长期雇员获得对待客户所需求的专业知识（reichheld 1996）。赋予更多的控制他们的工作的员工较高水平的承诺，使得管理他们的成本较低（普费弗1998年）。这些员工的卓越价值的提供会产生更大的客户忠诚度（reichheld 1996）。例如，一个客户忠诚度增加百分之五，是强劲增长的结果。此外，每个客户的利润也逐年增加，在某些情况下，从第一年的负利润，这些影响也使客户忠诚度非常宝贵的。此外，如果管理者关心他们的选区是否切合市场动态变化，并及时采取有效的行动（1992年科特

5、和赫斯克特）。此外，有责任的公司可能会在建立网站时，由社区和政府官员的批准所需的费用降低，或避免造成环境问题（waddock 1997年和graves）的罚款成本。此外，如果一个企业试图通过对社会不负责任的行为，如产品质量等方面的隐性成本降低，这可能导致某些利益攸关方怀疑其履行义务的能力，从而导致更高的费用，如向债券持有人支付的费用（waddock和格雷夫斯1997年）。 （亦见麦奎尔，sundgern和乌尔曼1985施内魏斯1988年。）因此，该理论认为，csr提高关键利益相关者的忠诚度。这有助于自我强化系统的积极影响。遵从一个负责任的宗旨，以真诚的态度行事，有助于提高企业的声誉。而这往往也

6、会增加员工的忠诚度，增加他们的工作动机生产更有价值的产品。这些产品，提高客户忠诚度，从而增加利润。强劲的财务表现出负责的目的，在财政上是可行的，从而增强了企业的运营。未来研究的建议平等回报理论研究假设，csr和财务回报是正相关的，也就是说，增加或减少csr不增加或减少财务而表现平均。虽然开展上面讨论的方面的研究比较困难，但是，它可能被证明更富有成效的关于csr和csi的财务表现相对其他主题的研究将更加重视。 研究还可以关注的csr公司之间和csi公司之间的比较，而不是将csr公司与csi公司进行。相对于前者，例如，在利益相关者战略管理领域的研究（seefreeman 1984和菲利普斯2003

7、）研究企业社会责任的机制，以达到利益最大化，增加了解csr公司实现高回报的具体措施。financial returns of corporate social responsibility, and the moral freedom and responsibility of business leadersabstracta number of theorists have proposed mechanisms suggesting that corporate social responsibility produces better financial results. this a

8、rticle contains an analysis of these perspectives drawing on observations from evolutionary game theory and nature. based on these analyses, it is concluded that the financial returns of corporate social responsibility and irresponsibility (csr and csi) are equal on average. the explanation is that

9、csr and csi are driven to a state of equilibrium, because if one or the other were to offer higher profits, it would attract more players who would compete for the best opportunities until there was no difference in average profit. existing empirical research generally shows a positive correlation b

10、etween csr as measured and corporate financial performance.it is argued that what is actually causing that finding is probably not csr but management skill. more skillful managers, whether actually responsible or irresponsible, are able to obtain both higher profits and greater credit in imperfect m

11、easures of csr. next it is shown that this theory of equal returns implies greater moral freedom and therefore responsibility for business leaders. it is concluded that this insight can intensify the interest of decent business leaders in vigorously championing csr.introductionfor more than 35 years

12、 a quest has been underway to determine whether corporate social responsibility (csr) produces higher financial returns (margolis and walsh 2003, p. 273). for example, a number of theorists have developed a substantial literature arguing that socially responsible practices are part of a constellatio

13、n of management behaviors that contribute to better financial performance. also, more than 127 empirical studies have been conducted on the subject (margolis and walsh) 2003.as an example, milton friedman says that it may be in the long-term interest of a company in a small community “to devote reso

14、urces to providing amenities to that community . . . that may make it easier to attract desirable employees, it may reduce the wage bill or lessen losses from pilferage and sabotage or have other worthwhile effects”carroll (1999) divides csr into a hierarchy of four components: economic, legal, ethi

15、cal, and discretionary. by saying that the firm must maximize profits while obeying the law and following the ethical customs of society, without deceit or fraudarguments that csr improves financial returnsexplanations of why csr should result in stronger financial returns center around the benefits

16、 of creating goodwill on the part of stakeholders (jones 1995; kotter and heskett 1992; pfeffer 1998; reichheld 1996; ullmann 1985; waddock and graves 1997). variations of this perspective have been described using terms including instrumental stakeholder theory (jones 1995), good management theory

17、(waddock and graves 1997), intelligent, adaptive management (kotter and heskett 1992), and a loyalty effect (reichheld 1996).an extensive range of specific advantages has been described. delivering superior value to customers increases loyalty of employees through greater satisfaction and pride in t

18、heir work (reichheld 1996). in addition, csr may make it easier to attract better employees (waddock and graves 1997). long-term employees gain expertise regarding customer needs (reichheld 1996). employees who are entrusted with more control over their work have higher levels of commitment, and the

19、 costs of managing them are lower (pfeffer 1998). delivery of superior value by such employees yields greater customer loyalty (reichheld 1996). a five percent increase in customer retention, for example, results in much stronger growth. in addition, profit per customer increases each year, in some

20、cases starting from a negative profit in the first year. these effects also make customer retention very valuable. in addition, if managers care about their constituencies, they are attuned to changes in market dynamics and take effective action promptly (kotter and heskett 1992). also, responsible

21、companies may experience reduced costs of approval for sites by communities and government officials, or avoid costs resulting from fines for environmental problems (waddock and graves 1997). in addition, if a firm tries to lower its implicit costs in areas such as product quality through socially i

22、rresponsible actions, it may cause certain stakeholders to doubt its ability to honor its obligations, resulting in higher explicit costs such as payments to bondholders (waddock and graves 1997). (see also mcguire, sundgern and schneeweis 1988; ullmann 1985.)so the theory suggests that csr increase

23、s loyalty of key stakeholders. that contributes to a self-reinforcing system of positive effects. articulating a responsible purpose, made more credible by sincere-manner cues, contributes to a positive reputation. that tends to increase loyalty of employees, increasing their motivation to make wort

24、hwhile products. such products promote customer loyalty, which boosts profits. strong financials demonstrate that the responsible purpose is financially viable, which reinforces the system.recommendations for future researchthe theory of equal returns leads to the research hypothesis that csr and financial returns are orthogonal, that is, that increasing or decreasing csr does not increase or decrease financial performance, on average. because of the difficulties of conducti