Study On Social Responsibility And Financial Performance Of Listed Companies In Coal Industry

During the important opportunity period when China’s economy and society are turning to high-quality development,the contradiction between China’s corporate development and how to better fulfill social responsibility has drawn the attention of the whole society.The coal industry is a key industry in China’s industrial development and a cornerstone of national and social development.However,because of the polluting,special and irreplaceable nature of the industry,how enterprises in the coal industry can consistently fulfill their social responsibilities has become a focus of public attention.Based on a systematic review and summary of relevant literature,this paper uses stakeholder and information transfer as the theoretical basis,and uses listed companies in the coal industry from 2016 to 2020 as samples to verify the impact and effect of social responsibility on corporate financial performance of listed companies in the coal industry using regression analysis.The results show that: the level of corporate social responsibility fulfillment has a positive effect on financial performance enhancement;corporate social responsibility also has a positive effect on financial performance in the lagging period;the social responsibility of politically connected enterprises has a greater impact on corporate financial performance than non-politically connected enterprises.Taking into account the characteristics of the coal industry,relevant recommendations are made in three areas,namely,the corporate side needs to find the root cause of social responsibility,the government side needs to continue to improve the way of regulatory system,and the public level needs to carry out comprehensive supervision and enhance the awareness of public supervision.The findings of this paper help both the coal industry to achieve sustainable development and the government and the public to strengthen supervision.