The Empirical Study About The Relationship Between Responsibility To Stakeholders And Financial Performance Of China's Petrochemical Industry Listed Companies

Recently, the study on the relationship between responsibility to stakeholders and financial performance has been paid more attention by domestic and abroad scholars, but it has not formed the same opinion and conclusion. The paper uses stakeholder theory, selects the petrochemical industry listed companies in China as the research object, makes empirical research to study the relationship between responsibility to stakeholders and financial performance based on reviewing and assessing domestic and foreign literature.The first chapter describes the background and significance, content, methods, technical route and innovation of the paper; chapterⅡreviews and evaluates the domestic and foreign literature, then analyzes the impact of social responsibility on financial performance; chapterⅢproposes the empirical research design, builds an index system of responsibility to stakeholders and financial performance,obtains the research model under the stakeholder perspective; chapterⅣselects annual report data sample for 2007-2009 of 98 listed companies in the petrochemical industry for the study and uses Eviews6.0 to make descriptive statistical analysis, correlation and regression analysis; chapterⅤobtains the conclusion:the impact of social responsibility which is fulfilled to stakeholders by petrochemical industry listed companies in China to current financial performance is not clear, however, according to the analysis of panel data, we found that the impact of social responsibility which is fulfilled to stakeholders on financial performance is clear.