| dc.description.abstract | This research mainly explores the relationship between corporate social responsibility strategies implemented by companies with good corporate governance and corporate financial performance. The scores given by MSCI ESG Rating are used as proxy variables for corporate social responsibility performance and the corporate social
responsibility strategies are divided into aggressive strategy and defense strategy, and use return on assets, return on shareholder’s equity and Tobin’s Q as proxy variables for financial performance to explore companies with better (poor) corporate governance and implement positive (defense) strategies for corporate social responsibility. The financial performance of the next year has a greater marginal explanatory power, and companies with better corporate governance than those with poor corporate governance have a greater impact on the financial performance of the next year in the implementation of aggressive strategies for corporate social responsibility than defense strategies Marginal explanatory power, and divide corporate social responsibility into environmental (E), social (S) and governance (G) under aggressive strategy and defense strategy discussion, the company with better (poor) corporate governance, its implementation environment (E) ), social (S), and corporate governance (G) aggressive
(defense) strategies have greater marginal explanatory power for the next year’s financial performance, and companies with better corporate governance conduct aggressive strategy of implementing environment (E), society (S), and corporate
governance (G) has a greater marginal explanatory power for the next year′s financial performance than the defense strategy.
The empirical evidence found that the adoption of corporate social responsibility defense strategies in the companies with poor corporate governance in this study will
have a positive and significant impact on financial performance, but the adoption of aggressive strategies by companies with better corporate governance will not have a
significant impact on financial performance. Companies with better corporate governance will have better financial performance in the next period when implementing positive corporate social responsibility strategies than defense strategies. Companies with poor corporate governance will implement environmental (E), social (S) and Governance (G) defense strategies have a greater marginal explanatory power for the next year’s financial performance. Companies with better corporate governance will perform social (S) and governance (G) aggressive strategies, respectively, on the return to shareholders’ equity. (ROE) and Tobin′s Q (TBQ) are positively correlated. Compared with those with poor corporate governance, companies with better corporate
governance are more compliant in implementing environmental (E), social (S), and governance (G) aggressive strategies. In the conduct governance (G) aggressive strategy
can bring good results for financial performance. | en_US |