本文选取 2011-2015 年沪深两市的制造企业为研究对象，运用 STATA 软件对
假设进行实证检验。研究结论如下：（1）制造企业履行社会责任能够显著缩短其
存货周转期、应收账款周转期以及现金周转期；（2）制造企业对不同利益相关者
的社会责任履行水平越高，其库存周转期、应收账款周转期以及现金周转期越短；
（3）制造企业履行社会责任对应付账款周转期的影响不显著；（4）相比于低竞
争行业，处于高竞争行业的企业履行社会责任对企业营运资金管理的影响更为明
显
本文丰富了企业社会责任与营运资金管理的研究视角，同时也为对制造企业
制定营运资金管理策略和完善市场竞争机制提供了参考建议，促使企业更自愿、
更积极、更持续地去履行社会责任
关键词：企业社会责任；营运资金管理；行业竞争度哈尔滨工业大学管理学硕士学位论文
II
Abstract
With the development of economy, more and more enterprises have been paying
attention to corporate social responsibility (CSR). Relatively speaking，the fulfillment of
CSR in manufacturing industry is better. Manufacturing industry is the pillar industry of
our national economy. And working capital is the lifeline of the manufacturing
enterprise, involving various aspects of daily production and operation. The production
and operation of enterprises need the support and resource input of stakeholders, and the
transformation of working capital is essentially the evolution process of these symbiotic
resources in the enterprise. Enterprises should replay various capitals which
stakeholders put into the enterprise, that is, to fulfill their social responsibilities, to win
support and gain a higher reputation. Industry competition, as an important external
governance mechanism, can effectively supervise and motivate enterprises managers,
but also provide enterprises with the opportunity to obtain a good reputation. Therefore,
this paper studies the impact of CSR on working capital management from the
perspective of industry competition.
This paper selects manufacturing listed companies between 2011 and 2015 as the
research samples, using STATA software to test the hypotheses empirically. The results
are listed as follows: (1) Manufacturing enterprises undertaking social responsibility can
significantly shorten IC, RC and CC. (2) The higher the level of CSR in manufacturing
industry to different stakeholders, the shorter IC, RC and CC. (3) The impact of CSR in
manufacturing industry on PC is non-significant. (4) Compared to less competitive
industries, the effect of the social responsibility on the working capital management is
more obvious for enterprises in more competitive industries.
This paper enriches the research on CSR and working capital management, but
also provides some suggestions on developing working capital management strategy
and improving market competition mechanism, which may encourage enterprises to be
more active and more persistent to fulfill their social responsibility.
Keywords: corporate social responsibility, working capital management,
industry competition degree哈尔滨工业大学管理学硕士学位论文
III
目 录
摘要........I
ABSTRACT..........II
第 1 章 绪 论.....1
1.1 研究背景与问题提出........1
1.1.1 研究背景.........1
1.1.2 问题提出.........2
1.2 国内外研究现状及分析....2
1.2.1 企业社会责任相关研究.........2
1.2.2 营运资金管理相关研究.........6
1.2.3 行业竞争度作用的研究.........9
1.2.4 国内外文献综述简析.9
1.3 研究的目的和意义..........10
1.3.1 研究目的.......10
1.3.2 研究意义....... 11
1.4 研究内容与研究方法...... 11
1.4.1 研究内容....... 11
1.4.2 研究方法.......12
1.5 论文创新点..........13
第 2 章 假设发展与模型构建...14
2.1 概念界定..14
2.1.1 企业社会责任的界定...........14
2.1.2 营运资金的界定.......14
2.2 理论基础..15
2.2.1 利益相关者理论.......15
2.2.2 声誉理论.......16
2.2.3 信号传递理论...........16
2.3 研究假设的提出..18
2.3.1 企业社会责任对营运资金管理的影响.......18
2.3.2 行业竞争度的调节作用.......22哈尔滨工业大学管理学硕士学位论文
IV
2.4 研究设计..23
2.4.1 解释变量.......23
2.4.2 被解释变量...23
2.4.3 控制变量.......23
2.4.4 调节变量.......24
2.5 模型构建..26
2.6 本章小结..27
第 3 章 实证研究..........
==>>