Research On The Financial Crisis Warning Of Introducing Corporate Social Responsibility

Along with the development of economic globalization, market competition has becomemore and more intense, and companies also have intensified competition, they all lead the risk offinancial crisis in the compony turn higher and higher, no matter for the company manager orcompany stakeholders, owning a relatively accurate financial early warning system can help thecompany in a timely manner to identify the occurrence of financial crisis, the company can helpidentify and control the financial risk, and avoid the financial situation continued todeteriorate.As well as company stakeholders input much and make a contribution to thecompany,so the company should perform the social responsibility, if the company can’t performwell, it probably cause the company’s financial crisis. Thus, this study will corporate socialresponsibility into the financial crisis early warning model, and it can improve and supplyfinancial crisis warning system.This study firstly introduces the researches of the financial crisis early warning theory andthe theory of corporate social responsibility in home and abroad to point out the researchdirection; The second part introduces the stakeholder theory, signaling theory and the theory offinancial crisis; The third part analies the effection of the fulfillment of corporate socialresponsibility on the company financial crisis early warning;The fourth part firstly selects thefinancial crisis early warning index and social responsibility index, and then selects32STcompanies and32non ST companies which have the similar industry，size and time to marketfor data analysis from Shanghai and shenzhen Stock Exchange in2011-2014, finally establishesthe respectively traditional financial crisis warning model and the model which introducts thecorporate social responsibility; The fifth part takes the ST company Sichuan Chemical CompanyLimited for example, and applies the early warning models to the case company for comparison,the results shows that the introduction of the corporate social responsibility can increase theeffectiveness of the financial crisis prediction. At last,the study drawes the conclusion and theprospection.