An Empirical Study On The Coal Industry Listing Corporation Social Responsbility Information Disclosure And Financial Performance Interactive

With the rapid development of China’s economy, on the social responsibility information disclosure problems, especially the relationship between social responsibility information disclosure and financial performance has attracted more and more attention from all walks of life. The coal industry is a national resource enterprise, not only need to assume the general corporate social responsibility, but also should take the corporate social the responsibility, such as to ensure the safety of production, reduce the waste of resources, protect the environment and so on. The relationship between the coal industry as the research object to study the social responsibility information disclosure and financial performance of the listed coal industry, to comprehensive and profound understanding to the social responsibility information disclosure function, increase the reverse effect on the enterprise performance.This article from the stakeholders, sustainable development, asymmetric information, principal-agent perspective, study the relationship between the coal industry listing Corporation social responsibility information disclosure and financial performance, is divided into two parts: theoretical research and empirical research. In the theoretical analysis, the theory of social responsibility information disclosure and financial performance reviews, establishes theory the basis for empirical research. In the part of empirical analysis, first to 30 coal listing Corporation in Shanghai stock exchange and Shenzhen stock exchange as the research sample, the financial data from 2007 to 2014, the core index using factor analysis method to reduce the dimensionality of the comprehensive index F as a financial performance. By using unit root test, Grainger test and the impulse response function analysis, China’s 14 coal industry listing Corporation in 2009- 2014 6 based on panel data, on the social responsibility The interaction of information disclosure and financial performance for the empirical research, the coal listing Corporation’s financial performance has a positive effect on social responsibility information disclosure and information disclosure of social responsibility has no effect on the financial performance of the conclusion. Finally, the innovation of this paper is a new empirical method, using vector to panel data regression method, and the use of pulse to determine the interaction between the variables and impact response function.