Impact Of Corporate Social Responsibility On Financial Performance Of Bright Dairy Co.Ltd

In recent years,corporate social responsibility has become the focus of all stakeholders and all walks of life.It is also an issue that enterprises constantly consider and demonstrate.The impact of corporate social responsibility on financial performance is one of the core of its demonstration.If the corporate social responsibility can improve the financial performance,the enterprise will pay attention to it and actively undertake the corporate social responsibility.Therefore,studying the impact of corporate social responsibility on financial performance can not only find ways to improve financial performance,but also promote the enthusiasm of corporate social responsibility.This paper chooses Bright Dairy as the research object,and studies the impact of social responsibility performance on financial performance from the short-term and long-term perspectives.From a short-term perspective,this paper uses the event study method to study the impact of different stakeholders' social responsibility events on short-term financial performance.According to the stakeholder theory and the actual situation of corporate social responsibility performance,we choose to distribute dividends on behalf of the relevant social responsibility events of investors,choose the quality and safety issues of Bright Dairy in 2012 on behalf of the relevant social responsibility events of consumers,choose the relevant social responsibility events of Bright Dairy and Alibaba retail partners,and choose the equity incentive on behalf of the relevant social events of employees For the event of social responsibility,select Jiu Zhaigou earthquake charity donation to represent the relevant social responsibility events of the community.The analysis of the impact of social responsibility performance on the short-term financial performance of Bright Dairy Co.Ltd shows that dividend distribution,equity incentive and charity donation can promote the short-term financial performance,while quality and safety issues have a negative impact on the short-term financial performance,while cooperation with Alibaba retail has a small impact on the short-term financial performance of BrightDairy Co.Ltd.From a long-term perspective,this paper selects the contribution rate index of Bright Dairy Co.Ltd to various stakeholders as independent variable,and the return on net assets index that lags for one year as dependent variable to conduct correlation analysis and multiple regression analysis.The research shows that the social responsibility of Bright Dairy Co.Ltd has a significant positive impact on financial performance;the social responsibility of partners has a positive but not significant impact on financial performance;the social responsibility of consumers and employees has a small impact on financial performance;the social responsibility of communities has a negative but not significant impact on financial performance.In the short and long term,the performance of social responsibility of Bright Dairy has a positive impact on financial performance,and improving the performance of corporate social responsibility is conducive to the sustainable development of enterprises.Therefore,this paper puts forward countermeasures and suggestions to pay attention to the performance of investors' social responsibility,improve the level of consumer trust,establish a long-term cooperation mechanism with partners,improve employee satisfaction and fully disclose charitable donation information.