Abstract: In this study, the working capital of business activities is divided into the working capital of purchasing, production and sales channels according to its relationship with the upstream, midstream, and downstream of the supply chains. Based on the differences of stakeholders' participation in business operations, the corporate social responsibility is divided into internal and external parts, so as to accurately analyze the roles of internal and external social responsibilities in the working capital management of different supply chain channels. Research has found that external corporate social responsibility can improve efficiency of the working capital management of procurement and sales channels, which is achieved through reducing the fluctuations in supplier procurement relationships and customer sales relationships, respectively. The internal corporate social responsibility can improve efficiency of the working capital management of production channel, which is achieved through the construction of good employee upward communication channels. At the same time, it was found that implementing an external corporate social responsibility strategy can improve efficiency of the working capital management of procurement and sales channels, and that implementing internal corporate social responsibility strategy can improve efficiency of the working capital management of production channel. Therefore, this paper is of certain reference value for the study of the relationship between some non-financial factors and the working capital management efficiency of supply chain channels.

Key words: Internal and External Corporate Social Responsibility, Supply Chain Channel Management, Efficiency of Working Capital Management, Stakeholders

摘要： 本文将企业经营活动营运资金按照其与供应链上中下游的关系划分为采购、生产和销售渠道营运资金,并基于各渠道关联的不同利益相关者参与企业运营活动的差异,将企业社会责任区分为内外两部分,以精准分析内外部社会责任对供应链各渠道营运资金管理的影响作用。研究发现,外部企业社会责任的履行能提升采购、销售渠道营运资金管理效率,分别通过降低与供应商的采购关系波动和与客户的销售关系波动的路径来实现;内部企业社会责任履行可以提高生产渠道营运资金管理效率,通过构建良好的员工向上沟通渠道这一路径来实现。同时发现,企业实施外部社会责任战略,能提高采购和销售渠道营运资金管理效率;实施内部社会责任战略,能提高生产渠道营运资金管理效率。本文研究的结论能为企业有效履行社会责任、合理配置供应链不同渠道的资金资源,进而提升资金管理效率提供借鉴。

关键词: 企业社会责任, 供应链渠道管理, 营运资金管理效率, 利益相关者