A Research Of The Correlation Between Corporate Social Responsibility And Capacity Of Financial Sustained Growth

Private enterprise is a unique concept in our country. As an important part of market economy, private enterprise is an important power forward in our country which is developing country, and plays an important role in economic development. But for a long time, private enterprise is in a misunderstanding of the social responsibility, always thinks that social responsibility will only lead to resource waste, and trying to escape the social responsibilities. Because of this myopic behavior of private enterprise, social appeared many crisis of morality and the confidence, such as food and drug quality problems, damage of the rights and interests of shareholders, creditors payment in arrears and so on. The reason is the private enterprise social responsibility performance does not reach the designated position. So, studing the implementation of the social responsibility is an inevitable trend of rapid economic development in our country.At the same time, private enterprises financial sustainable development is mutual influenced by internal and external factors. Due to the rapid development of economy, the external factors are more and more obvious, especially the social capital. An effective way to earn more social capital is the good implement of social responsibility. Many western countries enterprises regarded fulfilling social responsibility as a kind of investment and an effective way of keeping competitive advantage. should China’s private enterprises to fulfill social responsibility? What’s the relationship between fulfilling social responsibility and sustainable financial growth in China’s private enterprises? Clarifing these questions has very important significance on the financial sustainable development of the private enterprises and a friendly society. From this perspective, studing the relationship between fulfilling social responsibility and the financial sustainable growth of private enterprises to in our country has become inevitable.This article has made an analysis of a large number of literature, summarized the research status of scholars both at home and abroad.It has made the theoretical and empirical research on the correlation of corporate social responsibility and financial sustainable growth ability of private performance in our country. First of all, the paper has carried on the induction summary of the literature at home and abroad which are about social responsibility connotation, content, evaluation and the relationship between financial sustainable growth and social responsibility; Second, according to three theoretical basis including the theory of stakeholder theory, sustainable development and interests balance theory, the paper has carried on the theoretical discussion on the the correlation of private enterprise social responsibility and financial sustainable growth; Then, from several angle to elaborate the definition of social responsibility of private enterprises in our country which is the historical inevitability, the present situation, the content of cognition about the social responsibility; Next, it made an empirical research of the correlation between social responsibility and financial sustainable growth in private enterprise:(1)Use the method of factor analysis to divide social responsibility overall performance into seven different responsibility factor, use financial sustainable growth rate as the dependent variable, each factor and the overall situation of social responsibility as the independent variable, The results of regression analysis is that the private enterprise to perform responsibility to shareholders, government, suppliers and financial sustainable growth rate was significantly positive correlation; The performance of the employees and the community’s responsibility and financial sustainable growth rate is positive correlation, but not significant; Only the responsibility performance to the obligee and the consumer has significant negative correlation with financial sustainable growth rate(SGR). The overall social responsibility fulfillment situation has significantly positive correlation with financial sustainable growth rate(SGR).(2)When the dependent variable is real growth, the conclusions are basically same with financial sustainable growth rate, but statistically significant slightly smaller.(3)Using the absolute value of the difference between the actual growth rate and financial sustainable growth rate to represent the enterprise balanced growth, regard this index and the overall social responsibility as dependent variable, the results showed that most social responsibility index and the overall social responsibility has negative correlation with enterprise balanced growth.(4)When the social responsibility is the dependent variable, the index of financial sustainable growth rate has significant positive correlation with social responsibility. Balanced growth index is negatively related to the social responsibility, which is not significant. Finally, according to the regression results, it puts forward the research conclusion, countermeasures and future research prospects.