The Impact of Corporate Social Responsibility on Competitiveness of Liquor Enterprises
A Case Study of Wuliangye Group
These authors contributed equally.
- DOI
- 10.2991/aebmr.k.220307.213How to use a DOI?
- Keywords
- Corporate Society Responsibility; Liquor; Competitiveness; Financial Performance; Consumer
- Abstract
As society evolves, corporate social responsibility (CSR) is increasingly considered to be part of corporate competitiveness. The liquor industry is perceived as operating in conflict with fulfilling CSR. To investigate the impact of CSR on corporate competitiveness in China’s liquor industry, this paper examines Wuliangye Group’s CSR based on a stakeholder perspective from 2008 to 2020 and quantifies competitiveness by integrating financial performance such as liquidity and profitability with non-financial performance through principal component analysis. The study found no relationship between CSR and Wuliangye Group’s competitiveness but separating financial and non-financial performance we found that the consumer dimension of CSR had a significant impact on financial performance, while the other dimensions had no significant relationship, and all dimensions had no impact on non-financial performance. Therefore, actively fulfilling their social responsibility to consumers may be an important way for second- and third-tier wine companies to improve their competitiveness.
- Copyright
- © 2022 The Authors. Published by Atlantis Press International B.V.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
TY - CONF AU - Xiaolong Bai AU - Xiuqin Li AU - Wenyan Wang PY - 2022 DA - 2022/03/26 TI - The Impact of Corporate Social Responsibility on Competitiveness of Liquor Enterprises BT - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022) PB - Atlantis Press SP - 1289 EP - 1300 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.220307.213 DO - 10.2991/aebmr.k.220307.213 ID - Bai2022 ER -