Study On The Relationship Between Corporate Social Responsibality And Corporate Performence In Heavily Polluted Industries

People's demanding regard the quality of life has been gradually improved accompany with the growing economic situation of society.Nowadays,people are more concerned about the impact of poor environment condition to our life.There is air pollution,water pollution and noise pollution,which has brought to public attention.The sustainable development has been given a new concept in this era.President Xi has said in 19 th Communist Party of China National Congress,we should never forget the harmony between human and nature.We must realize that lucid waters and lush mountains are invaluable assets and act on this understanding,implement our fundamental national policy of conserving resources and protecting the environment,and cherish our mutual environment what we are relying.Therefore,the reform of highly-polluted industry will be a critical cornerstone in "Made in China 2025".Under this circumstance,the heavy pollution industry was chosen as the major research object of the industry.The panel data of 168 public companies during 2011-2015 was regarding as sample to make comparisons with the research results of the whole industry,which leads to the main theory against the social responsibility of highly-polluted industry and the profit of enterprises.The dissertation is based on social contract theory and the transaction cost theory.The fixed effect model,line chart and the systematic GMM method was used to analyze the whole industry respectively.The results of the two study show the following traits:(1)The profits of enterprises are not improved unless the corporate in the whole industry fulfil their social responsibilities.(2)The progressing benefits of business will build up a virtuous circle with a positive social responsibility fulfilment.(3)In highly-polluted industry,the failure of the implementation to social responsibility at present or last stage will be caused the reduction of corporate performance at that time,but significantly increased for lagging two stages.(4)At the early phase of heavy pollution industry,the performance of corporate has a positive effect on the fulfilment of social responsibility at the current stage.According to the standpoint been brought,the government should increase the effort on supervising whether the heavy pollution industry takes their social responsibilities,in the meantime,the corporate should take the pollution seriously and increase investment on environment for long term and better cause.