An Empirical Research On Correlation Between CSR And Financial Performance Of Listed Logistics Corporates

In order to standardize the management of enterprises and organizations, from theISO9000, ISO14000, and then to ISO26000was made to help it. As a result, the center oforganization management has been transferred from quality management to environmentalmanagement, and then to social responsibility management which means the time for fullresponsibility management has come. As a national basis and leading logistics industry, fromthe logistics industry restructuring and revitalization plan to the logistics laws, modernlogistics developed rapidly with strong support of country, but in fulfilling socialresponsibility which is still relatively backward. But, as an economic entity enterprise, whichmade a variety of business decisions are inseparable from the interests of the word, if theinput costs of social responsibility can be exchanged over economic interests, companies willnaturally be initiative in social responsibility. Therefore, it is necessary to study therelationship between logistics and financial performance of corporate social responsibility, inorder to guide the logistics enterprises to fulfill their social responsibilities.Firstly, the social responsibility theory conducted a systematic study, combined with thecharacteristics of enterprise logistics. Logistics and corporate social responsibility connotationwas proposed based on stakeholder theory. Further research was conducted on financialperformance of logistic corporates, which was based on the correlation between the generalstudy of corporate social responsibility and financial performance. After that, the research oncorrelation of logistic enterprises was performed.Secondly, four hypotheses of the correlation were proposed based on theoretical analysisbetween logisticscorporates social responsibility and financial performance, assuming listedlogistics corporates social responsibility and financial performance was positively correlated;assuming listed companies in the logistics industry in a period of social responsibility and thecurrent financial performance was positively correlated; assuming social responsibility toshareholders, consumers and government and financial performance was positively correlated;assuming listed companiessocial responsibility to employees，creditors, suppliers in thelogistics industry and financial performance was negatively correlated. Then four panel datamodels was built, selecting financial reporting of qualifying26listed companies between2002-2011of Shanghai and Shenzhen-listed logistics as the sample data. Statistical analysistools were used based on stakeholder theory with ROE as a proxy variable. Relationshipbetween listed corporate of logistics industry social responsibility and financial performancewas annualized based on stakeholder theory and the theory of corporate citizenship fromdifferent dimensions and time span.Finally, descriptive statistical analysis and panel data analysis showed that hypothesis one has been confirmed that social responsibility and financial performance of the listedcorporate in logistics industry was positively correlated. Hypothesis two has been confirmedthat the last social responsibility and current financial performance of the listed corporate inlogistics industry was positively related. Hypothesis three has been confirmed that socialresponsibility of listed companies to the shareholders, consumers, government and financialperformance were positively correlated. Hypothesis four was partially confirmed that thelogistics industry listed companies’ social responsibility to the employees, creditors andfinancial performance were significantly negatively correlated. The supplier’s socialresponsibility and corporate financial performance negatively correlated, but this relationshipwas not significant. On this basis, three related recommendations for improvement based onthe government, the enterprise itself and the different stakeholders were raised.