A Study On The Relationship Between Corporate Social Responsibility And Financial Performance Based On Growth

After entering twenty-first Century, with increase of the number and expand of the scale, the enterprise has more and more impact on social life, at the same time, the contradiction between development of economy and society、environment and resources has became increasingly prominent. The importance and the relationship between corporate social responsibility and corporate financial performance has became a hot issue in current society of common concern.We select those enterprises which have disclosure of corporate social responsibility report for three consecutive years from 2012 to 2014 based on the object of A-share listed companies in Shanghai and Shenzhen, and obtain 433 effective samples through screening and analysis. In addition, we construct enterprise growth quality evaluation index system from the unique perspective--enterprises growth and the three dimensions of "profitability, development potential, human resource”, also we verify the effect of corporate social responsibility from different growth enterprise quality on corporate financial performance.We draw these conclusions through theoretical and empirical analysis:(1) Corporate social responsibility has different impact on corporate financial performance for different enterprises of growth quality(2) Current period corporate social responsibility has positive impact on current period financial performance and last period corporate social responsibility has positive impact on current period financial performance for high growth enterprises(3) Current period corporate social responsibility has positive impact on current period financial performance and last period corporate social responsibility has positive impact on current period financial performance for suboptimal growth enterprises(4) Current period corporate social responsibility has positive impact on current period financial performance and last period corporate social responsibility has negative impact on current period financial performance for poor growth enterprises.This study has good practical significance: It studies fully and accurately the effect corporate social responsibility has on corporate financial performance from view of enterprise growth, which helps to comprehensively understand the company growth and development status, and helps enterprises to choose timely fiscal policy and development strategy to promote sustainable and healthy development. In addition, it adds the research breakthrough that cross period influence study between corporate social responsibility and corporate financial performance, and can improve sense of corporate social responsibility and better to fulfill social responsibilities. At the same time, the research contents effectively makes up the research gaps on the impact of corporate social responsibility on corporate financial performance.