Study On The Impact Of Social Responsibility Fulfillment On Financial Performance Of Listed Enterprises In Food Industry

Food industry as an important industry for Chinese national economy and people's livelihood,the social responsibility to fulfill the importance of self-evident,but food safety problems in our country in recent years,the industry overall social responsibility fulfillment situation is not optimistic,many enterprises to seek profit maximization,only think to fulfill social responsibility will only increase operating costs,reduce the level of financial performance.However,the long-term lack of social responsibility not only makes enterprises lose the trust of the public,but also threatens the sustainable development of the whole food industry.Therefore,it is necessary to deeply study the impact of food industry enterprises'fulfillment of social responsibility on financial performance,which is of great significance to guide enterprises to correctly understand and take the initiative to assume social responsibility and promote the development of enterprises and society.Based on this,this article in combing the domestic and foreign research about the impact of social responsibility on financial performance,based on the selection of the food industry listed companies data from 2014-2018 as the research object,first of all,based on stakeholder theory,combining the characteristics of the food industry,from shareholders,creditors,suppliers,customers,employees,government,society and environment,the eight dimensions of some measures to improve,constructed in this paper,the social responsibility evaluation system,selection and asset returns as a financial performance evaluation index.Secondly,factor analysis was used to obtain the comprehensive score of social responsibility of each sample enterprise,and descriptive statistical analysis was conducted on relevant data.Finally,correlation analysis and multiple regression analysis are conducted to analyze the impact of CSR on the financial performance of the current period and the lag period 1-4,and the reliability of the results is verified by the robustness test.The results show that the fulfillment of social responsibilities of listed enterprises in the food industry is conducive to the improvement of current financial performance;At the same time,social responsibility promoting the improvement of the financial performance level of enterprises in the later period,and this intertemporal effect is long-standing.According to the research conclusion,combined with China's national conditions and the food industry development present situation,this article from three aspects:enterprise,government and society puts forward relevant policy Suggestions,in order to provide the basis for the food industry to fulfill social responsibility consciously and motivation,help enterprise from the passive to fulfill social responsibility gradually take the initiative to assume social responsibility into its own strength,to promote the sustainable development of the society.