Research On The Correlation Between Corporate Social Responsibility And Financial Performance Of China's Automobile Manufacturing Enterprises

With the rapid growth of car ownership,energy crisis,air pollution,product safety problem is becoming more and more serious.These problems has attracted public wide attention and become an important challenge for the development of the automotive industry.In 2013,Toyota's brake failure accident happened,which greatly threatened the safety of consumer.As the main part of the automobile industry chain,the automobile manufacturing industry has far-reaching influence on society and environment.Once the social responsibility accident occurs,it will evolve into a serious social and economic crisis.It is very important to search the relationship between social responsibility and financial performance for the sustainable development of social economy.This paper analyzes the social responsibility of automobile manufacturing industry.On the basis of relevant theories,the content framework and quantitative indicators of social responsibility were constructed.The study of the relationship between social responsibility and corporate performance from the industry level and corporate level.This study combines generality and individuality,After the generality analysis of the industry,the paper gives a case analysis of the automobile manufacturing industry.In the part of empirical analysis,in order to find the common relation,this paper collects the financial data of automobile manufacturing companies from 2013 to 2017.Taking the Rankins CSR Ratings scores as the indicator of social responsibility and take ROA as the indicator of financial performance,verify the viewpoint of this paper through regression analysis.Taking responsibility for the stakeholders as the indicator of social responsibility,and take the stock price and ROA as performance index in the case study.In this part,the paper focus on the effective of responsibility accident,analyzes the performance data before and after the “Rust event”,provides the conclusion and recommendations for manufacturing industry.This paper analyzes the positive relationship between social responsibility and performance in automobile manufacturing from new perspective,combines empirical analysis with case study,which provides other possible explanations for the different conclusion of related studies and enriches the research methods and theories of social responsibility.At last,this paper puts forward some meaningful suggestions for the sustainable development of China's industrial economy.