Research On The Impact Of Social Responsibility On Financial Performance Of New Energy Listed Companies

Since the concept of corporate social responsibility was first put forward,the discussion about the concept has never stopped.Among them,the discussion on the connection between corporate social responsibility and financial performance has become the focus of academia and business circles.Under the background of the energy crisis and the environmental protection movement,new energy has become an important part of the energy strategy of all countries.China is no exception,in order to develop new energy,the Chinese government has promulgated a number of policies to support the development of new energy enterprises.As the key support of the state,new energy enterprises should bear more social responsibility.This shows that the research is of great significance that the new energy enterprises should undertake social responsibility and financial performance.In this paper,based on stakeholder theory,we design an index to measure corporate social responsibility and take the return on net assets like an index to measure corporate financial performance.In terms of data selection,this paper selected 60 new energy enterprises listed in Shenzhen and Shanghai stock exchange from 2013 to 2017 as the representatives to study the impact of social responsibility on financial performance.The empirical result shows that the listed company of new energy will have a significant and positive impact on its corporate finance performance when it fulfills its duty on the shareholders,the creditors,the staff and the government,Especially among which the performance of a duty of the company to its staff and shareholders will have a marked and positive-going effect on its financial performance.At last,this article will put forward optimization recommendations to the listed company of new energy in three aspects including the government,the enterprises and the society.By terms of the enterprise,communication mechanism and long-term performance mechanism of social responsibility should be established;for the government,reward and restriction mechanisms should be published;for the society,the roles of public opinions should be given full play and the effects of external supervision should be realized.