Research On The Effect Of Corporate Social Responsibility To Corporate Performance

In the 21st century, more than a major social liability cases have occurred in the world, the companies have been involved or subject to heavy penalties, or into which crises, resulting in adverse social impact. With the absence of corporate social responsibility intensified, whether to carry out corporate social responsibility is becoming the central issue. Under the background of economic globalization, companies exist in society, its development is affected by the environmental and social constraints. Companies can also benefit from favorable external business environment with contributing to society by the way of social responsibility, companies should carry out the certain social responsibilities. Of course, too much to bear for corporate social responsibility will inevitably bring adverse effects on some stakeholder interests (such as the interests of shareholders) and the cost of business, leading to impaired short-term profits. So, how to coordinate the relationship between social responsibility and corporate performance, to create a long-term, stable social environment for their sustainable development are the challenges faced by companies now. In this view, based on the response from the perspective of the stakeholders, the paper gives an in-depth analysis on the meaning of corporate social responsibility, an empirical analysis on the impact of carrying out corporate social responsibility on corporate performance.Firstly, the paper defines the concept of corporate social responsibility, by combing the relevant literature and combining with the relevant theoretical research and literature at home and abroad about corporate social responsibility and corporate performance. The paper analyzes and demonstrates the impact of corporate social responsibility with business performance, builds a theoretical model of the impact with corporate social responsibility and business performance and gives a detailed analysis of the role of the interaction between the two above, to provide a practical theory for subsequent empirical research.Secondly, based on the stakeholder theory, the paper constructs a rating index system of enterprises performance and social responsibility, descriptive statistics social responsibility conditions of the 115 listed manufacturing sector companies from 2011 to 2013. And the paper makes factor analysis and multiple linear regression model empirical analysis on the impact of corporate social responsibility on corporate performance in the current and the lagged period. The empirical measurement and test results show:(1) The social responsibility information disclosure of these listed manufacturing companies in China is not complete. The companies are still insufficient aware of social responsibility. (2) From 2011 to 2013, the listed manufacturing companies’ operating performance levels are more obvious different in China, the profitability of whole industry is in the low level. (3) From 2011 to 2013, China’s manufacturing listed companies have quite different aspects of fulfilling their responsibilities performance in creating benefits for all stakeholder groups. (4) There is not a single positive correlation presented between corporate social responsibility and corporate performance, the impact will be with a lag, but the correlation coefficient is not high, suggesting the influence of correlation is not significant. (5) The size of companies has a certain impact on the relationship between corporate social responsibility and corporate performance.Finally, this article gives some suggestions on how to promote corporate social responsibility in enhancing business performance and improve business performance to ensure corporate social responsibility, such as improving corporate social responsibility information disclosure system, common corporate governance structure. The government should make incentives and corporate social responsibility information disclosure system, and all companies can promote coordination between the various stakeholders and improving their efficiency simultaneously.