Research On The Correlation Between Central Corporate Social Responsibility And Corporate Performance

The theory of corporate social responsibility came into being in the 20 th century,and gradually came into being with the progress of society and company systems.Successively,the relationship between corporate social responsibility and company performance has gradually become the focus of attention in business and academic circles.According to the existing literature,it can be seen that no unified conclusion has been reached so far.Some scholars believe that corporate social responsibility and performance are positively related;some scholars believe that it is negatively related;some believe that the performance of social responsibility for certain stakeholders is positively related to performance,but the performance of corporate social responsibility for other stakeholders is positively related.Social responsibility is negatively related to performance.The reason why different scholars come to completely different research results is because the selected indicators are different,the research objects are different,the measurement standards are different,and the analysis methods are different.Based on this,based on the systematic review of relevant literature,this paper selects the corporate responsibility to the government,society,employees and customers as the main body of corporate social responsibility based on the stakeholder theory.The Tobin value is selected as the core indicator to measure corporate performance.Take China Coal Group’s financial data from 2011 to 2018 as an analysis sample.Using principal component analysis and regression analysis and other analytical methods,it is concluded that corporate social responsibility and performance as a whole present a positive correlation.Among them,companies actively paying taxes and actively participating in public welfare undertakings have the most significant impact on performance.Increasing employee salaries and transferring profits to customers has a relatively small impact on corporate performance,but they are all positive.The conclusion shows that in the long run,the goals of corporate social responsibility and performance maximization are not contradictory,and the two are mutually reinforcing and mutually reinforcing.Companies actively fulfilling their social responsibilities can not only improve their corporate image,but also their performance.Finally,based on the conclusions,this article puts forward relevant suggestions.First,the government should formulate relevant laws to restrain companies from fulfilling their social responsibilities.Second,the government should assume its role of supervision,draw close to the private supervision mechanism and the media supervision mechanism,and take a multi-pronged approach to jointly supervise the fulfillment of their social responsibilities by enterprises.Third,central enterprises need to actively assume social responsibility to set an example for small and medium-sized enterprises and private enterprises.Thereby driving SMEs to fulfill their social responsibilities.