Research On The Relationship Between Corporate Social Responsibility And Financial Performance From The Angle Of Stakeholders

In recent years, more and more people appeal to corporations should assume socialresponsibility to promote the harmonious development of corporations and society, economy,environment. In corporations’ development, they realize to fulfill the social responsibilities, notonly can establish a good figure t, but also can establish friendly relationship and get customerloyalty to improve the corporations’ financial performance. So, is there a relationship betweensocial responsibility and financial performance? If the study of the relationship is positivecorrelation, we can find the motive and basis to assume corporate social responsibility.Corporations that want to improve their financial performance must fulfill their social responsibility.In this paper, I study the relationship of Coal listing Corporations’ social responsibility andfinancial performance from the angle of stakeholders and get the conclusion of positive correlation.The paper is divided into two parts, including theoretical analysis and empirical test. In the part oftheoretical analysis, firstly, I review on the social responsibility theory and stakeholder theory andobtain a theoretical foundation for the empirical test, then, on the one hand, I sort out the literatureof the relationship between corporate social responsibility and the financial performance, from thereview of the literature, I get the methods of this research on the social responsibility called thesocial responsibility index method based on Stakeholders, on the other hand, I use the accountingindex to measure the financial performance, including: the rate of return on Common Stockholders’Equity, the rate of total assets turnover and the increasing rate of main business income. In the partof empirical test, I use the Coal listing Corporations’ annual report and social responsibility reportdata to design the social responsibility index and financial performance index from the angle ofstakeholders, then I put forward the hypothesis and make models. I apply the Eviews6.0statisticalsoftware to analysis the descriptive statistics and correlation of data, then I use multiple linearregression analysis to obtain the conclusion that the relationship between coal listing corporations’social responsibility and financial performance is positive correlation.