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摘要：本文是作者的一篇英国本科毕业论文。任何一个企业和社会组织都是存在于环境之中的。企业环境可分成微观环境和宏观环境。微观环境包括那些直接影响企业履行其使命状况的行动者、供应商、各种市场中间商、顾客、竞争对手等。宏观环境包括那些影响企业微观环境中所有行动者的较广泛的社会力量或因素，包括人口的、经济的、技术的、政治的、法律的、以及社会文化方面的力量和因素。企业的经济环境包括：1、宏观经济形势，如国民经济发展水平及其发展趋势，政府财政。金融情况;2、本行业在整个经济体系中的地位和行业特点;3、企业的直接经济环境，包括人均实际收入、平均消费取向、消费支出分配模式。

These empirical studies give a direction for further research in this field. I conclude the most representative literatures in this research area in Table 1, which is showed below. It is obvious that a good and reasonable study in the CER-CFP link should carefully consider several issues, including sample selection, CER and CFP measurements, control variables and analysis method. Therefore, in the following sections, I will indicate how I deal with these issues in order to achieve more reasonable and valuable results.

Table 1: The most representative literatures in this research area

StudySamplesCSR MeasuresCFP MeasuresControl Variables or/and ModeratorsCasual DirectionResultsLimitations

Moskowitz (1972)14 firmsN.AStock price change 01/1972-07/1972N.A.CEP->CFPPositiveNo adjustment for risk; CFP measure is questionable; the time period is too short; no test for significance.

Bragdon & Martin (1972)17 firms in the paper and pulp industryPollution performance IndexAverage Return on Equity; Average ROC; Earnings per share during five-year periodN.A.CEP->CFPPositiveNo adjustment for risk; CSR/CFP measures are not suitable; sample is not large enough; no test for significance.

Bowman & Haire (1975)82 food processing firms Corporate annual reportsFive year return on equityN.A.CEP->CFPU shaped performance curveNo adjustment for risk; CSR/CFP measures are not suitable; sample is not large enough; no test for significance.

Vance (1975)14 firms of Moskowitz’s list

45(50) firms from surveysBusiness and Society ReviewStock price increases over timeN.A.CEP->CFPNegativeNo adjustment for risk; samples are questionable; time period is too short; regression line does not fit the data; performance criterion is in adequate.

Sturdivant & Ginter (1977)28 firms of Moskowitz’s listBusiness and Society Review10 year earnings per share growthN.A.CEP->CFPPositiveNo adjustment for risk; used t-test with very small sample; inconsistent industry categories.

Alexander & Buchholz (1978)14 firmsBusiness and Society ReviewStock price increases over 2 years and 5 yearsN.A.CEP->CFPNo relationshipQuestionable samples and inadequate performance measures.

Aupperle et al. (1985)241 CEOs listed in Forbes 1981 Annual Directory responded the survey CEO’s orientationsOne year and five years return on assetsN.A.CEP->CFPNo relationshipCEO’s orientations might not represent actual organisation actions.

MuGuire et al. (1988)131 firms rated by FortuneThe Fortune SurveyBoth accounting-based and market based measuresN.A.CEP->CFP CFP->CEPPositive;

Prior CFP worked better than subsequent ones.Questionable CSR measures.

Fombrun & Shanley (1990)The 292 firms included in Fortune's 1985 studyThe Fortune Corporate Reputation Index.Accounting-based and market-based measuresSize, advertising intensity, diversification posture. CFP->CEPComplexNeed better specifying the dimensionality.

Pava & Krausz (1996)106 firmsCouncil on Economic PrioritiesAccoun本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。