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以第一大股东持股比例作为股权集中度的代理变量,利用我国上市银行2008~2012年的面板数据实证分析股权集中度、商业银行社会责任与企业价值之间的关系。研究结果显示:第一大股东持股比例与银行社会责任显著正相关,第一大股东持股比例越高,商业银行履行社会责任程度越高;商业银行履行社会责任会显著地提升当期及滞后一期的企业价值;同时,相比于当期社会责任,前一期社会责任对提高当期企业价值的贡献更大。研究结论对商业银行树立正确的社会责任价值观以及保持适度的控股股东持股比例具有启示意义。
The shareholding ratio of the largest shareholder is taken as the proxy variable of ownership concentration. Empirical analysis of the ownership concentration, commercial bank’s social responsibility and the relationship between enterprise value is conducted by using the panel data of China’s listed banks from 2008 to 2012. The results show that the proportion of the largest shareholder is significantly and positively correlated with the social responsibility of the bank. The higher the proportion of the largest shareholder is, the higher the commercial bank’s performance of social responsibility. The fulfillment of social responsibility of the commercial bank will significantly improve the current and lagged In the meantime, compared with the current social responsibility, social responsibility in the previous period made more contribution to the improvement of current corporate value. The conclusion of the study is of enlightenment to establish the correct social responsibility values of commercial banks and to maintain a moderate proportion of controlling shareholders.