Empirical Study On The Relationship Between Social Responsibility And Financial Performance Of Highway Listed Company

With the rapid development of China’s economic, the community already has a greatattention to corporate social responsibility. Some foreign enterprises treat social responsibilityas a long-term investment. The corporate social responsibility movement in China is still be inThe initial stage, but on the whole social responsibility is growing, Many enterprises havetaken the initiative to publish the report on corporate social responsibility and sustainabledevelopment report. However it still exists many problems in practice, for example domesticproducts quality, and environmental pollution, and enterprise integrity missing whichconstantly emerges, this reveals the enterprise of our country should not fulfill socialresponsibility into put into the daily operation of enterprises, when confliction has beenoccurred between economic interests and social responsibility, enterprises still put chasingeconomic interests in the first，ignore and deliberately escape the social responsibility,therefore, the consciousness of fulfilling corporate social responsibility need to continuestrengthening. Highway as within a certain period of economic pillar industry of the nationalpolicy of stimulating domestic demand, when it is fast growing, it create a series of socialproblems, which have aroused wide concern on the issues of road listed company’s socialresponsibility. According to this background, this Papers based on social responsibility andfinancial performance of theoretical study and empirical analysis to study the correlationbetween the two, so as to further guide the road listed company to strengthen itsimplementation of responsibility.Papers use social responsibility theory and stakeholders theory as researching beginning,combining literature of research and analysis of the correlation between enterprise socialresponsibility and financial performance at home and abroad. According to stakeholderstheory selecting shareholders, and creditors, and suppliers, and government, and employees,and customer as six main stakeholders of highway listed company social responsibility, andmade assume about the correlation between enterprise social responsibility and financialperformance. Selecting19highway listed company from2009to2011about related data ofcorporate social responsibility indicators and financial indicators, by SPSS17.0software for amultiple regression analysis about between financial performance in the current period anddescriptive analysis in the current period and subsequent periods about social responsibilityand financial performance about the current period, testing its correlation assumptions, andusing quantitative data for empirical support. Come to the following conclusions:(1) Highway listed companies social responsibility play an active role in promoting financialperformance and have some positive correlation between the two.(2) In the current periodcorporate social responsibility indicators have positive affection on financial performance, theinfluence of social responsibility and financial performance in the current period is obvious,and social responsibility during the latter period has significantly impaction to financialperformance, distinctiveness is not obvious in the second period. Finally according toempirical analysis and the current situation of highway listed companies social responsibilityperformance we raised some specific recommendations.