An Empirical Study On The Interactive Influence Between Social Responsibility And Business Performance Of Manufacturing Enterprises

Manufacturing industry plays a significant role in the national economy.As an important component of our society,manufacturing industry should not only pursue economic benefit,but also should fulfill social responsibility in the process of seeking maximal profits.In recent years,the problems of manufacturing enterprises' neglecting social responsibility such as shocking food safety issues,emission events which pollute the environment and safety production accidents which damage the physical and mental health of the employees occur frequently.With the rapid development of economy,all sectors of the community are paying more and more attention to social responsibility issues and the enterprises' degree of fulfillment of social responsibility is becoming an important factor that affects the economic efficiency.The problems of how to evaluate the social responsibility objectively,what is the interactive influence between social responsibility and business performance and how to promote the enterprises' ability of fulfilling social responsibility have aroused fierce discussion in academia.This paper reviews the previous theoretical and empirical research about corporate social responsibility and business performance,taking manufacturing enterprises listed on Shanghai and Shenzhen Stock Exchange as samples,selecting the data from 2014 to 2015 and using Excel and SPSS to process data.First,based on the stakeholder theory,financial and non-financial perspectives,this paper builds an evaluation system about social responsibility on eight dimensionalities which consist of the responsibility to the shareholders,to the creditors,to the employees,to government,to the suppliers,to the customers,to the environment and to society,using factor analysis to optimize the evaluation index and get and compare the total points of the manufacturing listed corporate.Then this paper uses the total point of the social responsibility as independent variable and current business performance as dependent variable to analyze correlation and regression.After that,uses business performance as independent variable and the total point of social responsibility of the next installment as dependent variable to analyze correlation and regression.At last,uses the above-mentioned two regression analysis to verify the interactive influence between corporate social responsibility and business performance.The research results show that the relations between the performance of social responsibility of manufacturing listed corporate and business performance are as follows:(1)the better the social responsibility is fulfilled and the higher the social responsibility score is,the better the EVA performance and business performance are.(2)the business performance could significantly influence the condition of the social responsibility in the next installment and the better the business performance is,the better the social responsibility will be fulfilled.Finally,according to the conclusion of the study,this paper puts forward some suggestions to improve the performance of corporate social responsibility in China from the perspectives of corporates themselves,the government and the public.