Research On The Relationship Between CSR And Financial Performance Of Private Enterprises

In recent years,with the rapid growth of China's economy and the deepening of the process of marketization,corporate social responsibility has increasingly become the driving force for the survival,development and maturity of enterprises.Through more than 20 years of reform and development,the private economy of China has overcome the disadvantages,such as the weak foundation and the congenital deficiency.China's private economy has become an important part of the national economy development of our country.And the private enterprises in our country have made certain achievements in the respect of undertaking corporate social responsibility.Because our country has a late start in the empirical study of the relationship between corporate social responsibility and financial performance,the current research on the relationship between private enterprises' corporate social responsibility and financial performance is relatively small.Therefore,in order to deepen the depth of corporate social responsibility in our country and provide more guidance for Chinese private companies,this paper starting from Chinese private listed companies to study the relationship between corporate social responsibility and corporate financial performance.This paper combines normative research with empirical research together.Firstly,this article discusses the background,meaning and purpose of the study between Chinese private companies CSR and CFP;secondly,on the basis of the literature review,this article lists the relevant theories;thirdly,analyzes the present situation of Chinese private enterprises to practice CSR;At last,based on the above theories,through correlation analysis,regression analysis and robustness analysis,this paper selects the data of listed private enterprises from 2012 to 2014 as the research sample to carry on the empirical research on the relationship between corporate social responsibility and financial performance of private enterprises in our country.The research indicates that the corporate social responsibility and financial performance has a significant positive relationship,and there is a causal relationship between them.Not only the relationship between the corporate social responsibility and financial performance in the same period,but also the relationship between previous corporate social responsibility and current financial performance has significant positive relationship.This paper suggests that the private enterprises in our country should speed up the fulfillment of corporate social responsibility to accelerate the development of enterprises,even the entire private economy.