A Research On The Influence Of Coal Corporate Social Responsibility On Corporate Financial Performance

With the increasing impact on social development and human lives since 20th century, companies have been more and more appealed to assume social responsibilities, and fulfilling the social responsibilities has become a great problem that can not be shirked anymore by modern companies. However, some companies hold an opinion that taking on social responsibility will decrease corporate performance. Coal enterprises in our country have not fully start fulfilling corporate social responsibility. Empirical research with respect to the social responsibilities of coal enterprises has just started. The research on the relationship between corporate social responsibility and corporate performance has practical value.This paper takes the Shanghai and Shenzhen Stock Exchange's 20 listed coal enterprises as research samples, and selects their financial data from 2004 to 2008. Empirical analysis method was used to study the problems of Social responsibilities in coal enterprises. Primarily, this paper combs out the concept of corporate social responsibility, and mainly summarized the researches on the relationship between corporate social responsibility and corporate performance. In the next place, the paper analyzes the relationship between corporate social responsibility and corporate performance, and determines the main dimensions of corporate social responsibility. In consideration of imperfect information disclosed about corporate social responsibility in listed company's annual financial report, the paper mainly analyzes corporate social responsibility from six aspects of shareholders, creditors, employees, customers, suppliers and government. Finally, the paper constructs an index system to evaluate the social responsibility of each stakeholder. After that, this paper establishes research model with respect to the relationship between corporate social responsibility and corporate performance, and then analyzes and discusses the relationship with the data of listed coal enterprises.The results of the thesis are as follows. First, in aspects of the shareholders, creditors, employees, customers and government, corporate social responsibility has positive relationship with corporate financial performance, while in aspect of the suppliers the relationship is negative. Second, corporate social responsibility of current and previous period has a significantly positive relationship with corporate financial performance, while social responsibility of two periods before has insignificantly negative relationship with corporate financial performance.