Corporate social responsibility and firm performance: Modified social contribution value per share

This study attempts to enhance the corporate social responsibility (CSR) performance measurement by introducing concept of environmental contributions. As suggested Xu and Zhu (2010), we modify formula contribution value per share (SCVPS) developed Shanghai Stock Exchange (SSE) in 2008 employing two elements, namely, audited cost (AEC) additional (AddAEC). Using pooled least square regressions examine relationship between modified SCVPSs, under accrual basis cash basis, listed firms SSE index, find that they have a positive — larger SCVPS corresponds better CSR firm performance. Our results for SCVPSs are relatively unaffected different ownership structures, state-owned (SO) non-state-owned (NSO). Evidence also indicates influence on is more significant SO than NSO firms. Companies encouraged increase their go beyond minimum protection standards.