A Meta-analysis On The Relationship Between Enterprise’s Social Responsibility And Financial Performance

In today’s globalization of information and industry,enterprise’s social responsibility is not only more familiar to the public,but also has become a hot research topic in the academic field.To understand the relationship between enterprise’s social responsibility and financial performance,it not only has an important theoretical significance,but also a clear practical significance.On the one hand,it helps to deepen understanding of enterprise’s social responsibility in theory to persuade opponents about the idea of enterprise’s social responsibility and promote the development of the theory of enterprise’s social responsibility;On the other hand,it also helps to improve enterprise’s social responsibility in practice,encourage enterprises to fulfill social responsibility consciously.Combining the social responsibility consciousness with the practice,the enterprise not only helps to improve the management level and financial performance of the enterprise,but also enables the enterprise to fulfill the social responsibility and improve the financial performance to form a virtuous circle.On the relationship between social responsibility and financial performance,the majority is come from empirical research,but the conclusions are not consistent.The reasons that lead to the inconsistency of the research results are not only related to the performance measures,but also to the different research methods.At present,the relationship between enterprise’s social responsibility and financial performance,there are only two dissertations in China on the empirical research by using the meta analysis method before 2011.Therefore,in order to clarify the relationship between enterprise’s social responsibility and financial performance,this paper uses the meta analysis method to study the empirical research literature from 2011 to 2015.The purpose of this paper has three points: First,the study of the relationship between enterprise’s social responsibility and financial performance is further integrated analyzed by using the meta analysis method,so as to reveal the general situation and characteristics of the empirical research in this field,Especially enterprise’s social responsibility and performance results of empirical study heterogeneity of determination,analysis and processing,and then obtain the general conclusion,which will provide a reference for follow-up of normative and empirical research.Second,although the application of software can improve the efficiency of research,especially when the analysis of the data is too much to deal with,but the application of software leads to the omission of key research steps and details,so that the reference value of the research methods and processes of some researchers is not significant.So,the detailed process of meta analysis of this paper tries as much as possible with clear principles,the formula,the method and process of showing,in order to provide some reference methods for the subsequent meta-analyst.Third,on the conclusion of the study,should follow the principle of caution,as in this paper,Q value,I2 and H values are used to detect the homogeneity;Research methods and ideas should achieve mastery through a comprehensive study of the subject.As this paper,combined with the meta analysis for the required maximum quantity of samples,use manual elimination method to make the homogeneity of the sample of subgroup analysis to reaches the maximum.Hope it also could have a reference meaning for these follow-up researchers.The topic of this paper has been determined,the meta analysis is applied to study the relationship between enterprise’s social responsibility and financial performance.The general idea is to follow the steps of the meta analysis to launch the research.First,use the "social responsibility" and “financial performance” as the key words to collect and review the relevant research literatures including journals of published and unpublished,master and doctoral dissertation and conference papers,etc.Secondly,as far as possible to collect these relevant literatures,establish the method of quality assessment and screening criteria,excluding these unsatisfactory standards to ensure the effectiveness of meta analysis.Then,make code for the rest of the valuable empirical research literature.That is,through the method of encoding from one of the following aspects: publication of form and time,industry nature,source of data,quantity of sample,independent variable,dependent variable,control variable,adjusted variable,conclusion index,etc.After that,summarize these coded literatures such as calculate average effect value,confidence interval,homogeneity test.Then,analyze the sensitivity.Sensitivity analysis is the one of standards for testing the reality of meta analysis.A higher sensitivity means the conclusion is more accurate,also has an external authenticity and higher reference value.Commonly used methods are: quality evaluation of original documents,evaluation of research methods,size of sampling bias,Fail-safe N,funnel schema method.Finally,summarize all information and finish the paper writing.In the introduction,this paper describes the results of empirical studies at China and abroad,the background and significance of this study,the purpose and ideas of the study,and the framework and content of the study.Then,in the second chapter,the paper gives the concept of meta analysis,social responsibility and finance,and systematically expounds the theory of meta analysis including its concept development,basic principles,analysis process and eligibility criteria.In the third chapter,based on the meta analysis theory,this paper constructs the corresponding theoretical model,gives the hypothesis,and collects the relevant empirical research literature to encode.After the completion of the code,this paper provides a specific analysis in the fourth chapters.After determining the value effect,this paper gives calculations of the weighted mean and confidence interval,test of significance,test for homogeneity and heterogeneity analysis;Since presence of apparent heterogeneity,a subgroup analysis method is used for further analysis,and the sensitivity analysis is also tested.Finally,the results of data analysis are obtained.In the last chapter,based on the previous chapters,this paper gives a conclusion,summarization of innovation points and deficiencies,and puts forward the further prospects of the future.This paper finally concludes that,when the sample size is large,the random effects model is suitable for the Meta-analysis of the model.After the homogeneity test,as well as the sub group analysis and the sensitivity analysis,it is indicated that the 115 literatures using meta analysis in this paper are statistically significant and homogeneous.The enterprise’s social responsibility and financial performance are significantly related to the significant linear correlation.