An Empirical Study On The Relationship Between Corporate Social Responsibility And Financial Performance Of The Food And Beverage Industry

In recent years, with the accelerated pace of social development, corporate social responsibility is a growing concern of the community, such as government, enterprises a,experts and scholars and so on have been studied corporate social responsibility, resulting in a number of research and promoting all walks of life to attention corporate social responsibility in the contemporary business environment. However, the case that companies do not fulfill their social responsibility still frequently occur and many companies only seek profit maximization, ignoring the interests of other stakeholders, such as food safety issues, resources and environmental problems and labor issues. Especially the food and beverage industry there has been very more food safety accidents, causing the majority of consumer dissatisfaction. Occurrence of these problems directly restricts the sustainable development of enterprises. The one hand, our country is still in the primary stage of socialism market economy and corporate social responsibility evaluation and incentive system is not perfect; On the other hand, the companies believe that social responsibility will only increase the cost of doing business. Therefore, further study of the connection between corporate social responsibility and financial performance is necessary. To exactly understand what kind of internal logic between corporate social responsibility and financial performance, we requires not only theoretical discussion, but more actual data to illustrate. So, it is necessary use the data to analysis the relation of corporate social responsibility and financial performance.Firstly, to collate and summarize the relevant literature,analyze the status of the food and beverage industry to fulfill their social responsibility. Second,combined stakeholder theory, analysis the contents of corporate social responsibility for the various stakeholders and their impact on the financial performance and propose hypotheses two aspects:,the current corporate social responsibility and current financial performance is positively correlated; earlier corporate social responsibility and current financial, performance is positively correlated. Third, use listed company data test the reiationsnip OI corporate social responsibility and financial performance. As a result,there is a positive correlation between social responsibility and financial performance to the majority stakeholder in food and beverage companies, but different effects, where government and stakeholders are the most important shareholders. Finally, according to early-mentioned situation analysis and research about social responsibility in food and beverage industry, submit a detailed external and internal relevant suggestions from the food and beverage industry, providing reasonable direction for the food and beverage industry to properly fulfill their social responsibility and providing a reference for other industries.