Research on the effect of industry regulation on business activity

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First, industry regulations do not have a significant effect on business activity while the pressures by the society expressed as corporate social responsibility (CSR) have a great effect on business activities.Second, among CSR activities, environmental investment decreases economic performance while the engagement in labor issues and social contribution enhances economic performance.Third, there is a relationship that CSR influences economic performance in addition to the relationship that economic performance influences CSR.Fourth, governance structure is the important determinant for CSR.Fifth, most shareholders focus on only the activity that they are interested in but ignore the whole CSR investment strategy.A company can improve economic performance more effectively by dispersed CSR investment than by concentrated CSR investment.