Corporate Social Responsibility Research Based on Industrial Upgrading

Based on the top 300 corporate social responsibility development index from 2009 to 2015 and financial data of 32 listed companies, this paper analyzes the relevance between corporate performances, measured by return of equity, size of assets and financial leverage, and corporate social responsibility. We refine the model and focus on industrial upgrading. We conclude from the research that industrial upgrading can improve corporate social responsibility from the whole society and its positive effects will deepen as the size of assets increases.