A Study On The Relationship Of Food Company Social Responsibility, Manageement Level And The Financial Sustainable Development Ability

Food is of special and great significance for human as the material basis for humans to survive. With the development of economic, people’s health consciousness constantly enhancing, and consumers pay more and more attention to food safety. But in recent years, the food industry keep growing and enlarging, the food problems become emerge in endlessly. When food safety problems occurred, it will cause huge losses or even bankruptcy reorganization to the food companies. In addition to the complexity of food safety problems and difficulty of governance, partly due to the poor regulation of regulators, the most fundamental reason is lack of corporate social responsibility in food companies for frequently food safety incidents. When problem occurs, company existence and development is restricted by the methods that managers cope with. so the core management level of enterprise management team has a important influence on the sustainable development of company. Compared with some developed countries, the survival time of Chinese companies is relatively short,the food companies tend to be shorter due to its sensitive and vulnerability. To solve the problem of serious food safety in our country, to improve the food company social responsibility construction and improve management level and promote sustainable development of the food company, this article has selected 80 listed companies of food and beverage industry(including brewing company) in the Shanghai and shenzhen two city in 2010-2014 as samples, comparatively systematic theoretical analysis and empirical research was carried out for the relations between the food company’s social responsibility, management level and financial sustainable development ability.Firstly, this article reviews the previous related research, we generalized therelevant theoretical basis, and straighten up the relation of food company social responsibility, the management level and financial sustainable development ability.On this basis, we had made clear the theoretical basis, research scope and research method in this paper.Secondly, in order to further study the relationship of social responsibility,management level and financial sustainable development ability, this article selects the total assets growth rate and sustainable growth rate to measure the short-term and long-term financial sustainable development ability, and to subdivide food company social responsibility into five dimensions, respectively study the relationship with the sustainable development ability and management level, then through the role of the intermediary management level to explore the relationship between social responsibility and the sustainable development of the food company. this paper had conducted the hierarchical regression analysis using the unbalanced panel data, to ensure the robustness of conclusion, we use balanced panel data for robustness test at the same time in this paper. The main results were as follows:Based on the unbalanced panel data, the research results show that:(1)the comprehensive social responsibility of food companies significantly positively related to the sustainable development ability and management level, food companies have more strong sense of social responsibility and fulfill social responsibilities more actively, the company’s financial sustainable development ability is greater; food companies carry out the social responsibility more perfect, it is more conducive to the improving of management level. Corporate social responsibility effects financial sustainable development ability through management level, so the level of management has partial mediation effect.(2)Environmental responsibility, economic responsibility, as well as food safety responsibility, is significantly positively related to financial sustainable development ability; Legal responsibility positively related to the growth rate of total assets, but it is significantly negative associated with the sustainable growth rate; Charity responsibility and the sustainable growth rate have significantly positive correlation, but it is negatively related to the growth rate of total assets.(3)Company’s management level has partial mediation effect in which environmental responsibility and legal responsibility, economic responsibility, andfood safety responsibility have an effect on the sustainable growth rate. Management level plays partial intermediary effect in which legal responsibility, economic responsibility, and food safety responsibility have an effect on the growth rate of total assets, and management level plays completely intermediary effect in which environmental responsibility affect the growth rate of total assets.And based on balance panel, charity responsibility, food safety responsibility have no significant effect on management level and financial sustainable development ability, management level has no partial mediation effect in which general social responsibility, food safety responsibility, environmental responsibility affects the sustainable development ability, and it is inconsistent with unbalanced panel data, this may be due to the difference of selected sample, that lead to inconformity in which the different dimension of social responsibility in different research results affects the sustainable development ability, significance level is lower, but it is not affect the relationship of variables.Finally, based on the research conclusion, combined with the reality of social responsibility construction and management of food companies in our country, we put forward four countermeasures and suggestions: First, we should improve and implement the construction of food company social responsibility system, pay attention to food safety responsibility. Second, we should make clear the relationship between the food company social responsibility and the financial sustainable development ability, pay more attention to the management level. Third, we should establish and improve the supervision mechanism of food company social responsibility. Fourth, we should promote comprehensive governance mechanism of food safety.