Study The Relationship Between Corporate Social Responsibility And Financial Performance

With the sustained and rapid development of the national economy and the overall progress of society,the role of enterprises in the community has changed.As an important part of the social system,the enterprise not only an economic organization what pursues the maximizing profit,but also needs to assume the social responsibility and perform the social citizen's obligation.Under this background,corporate social responsibility as an important part of sustainable development of enterprises,more and more domestic and foreign scholars are concerned.Compared with the western countries,the corporate social responsibility movement of our country started late,and the phenomenon of neglecting social responsibility is very serious in the process of development.Therefore,clarifying the relationship between corporate social responsibility and financial performance plays an important role in studying the internal motivation of corporate social responsibility.It also helps enterprise managers to manage and fulfill corporate social responsibility more actively and strategically,and maintain the interests of all stakeholders,So as to avoid enterprises crisis caused by fulfilling improper corporate social responsibility.First of all,this paper reviews the research on corporate social responsibility at home and abroad using the normative research method,which lays a foundation of this paper.Secondly,it expounds the theoretical basis of this paper,including the sustainable development theory,the stakeholder theory,the social contract theory and the triple bottom line theory,and discusses the impact of corporate social responsibility on improving financial performance in an all-round and in-depth way,proposing the hypothesis based on the above analysis.Finally,using the method of empirical study,based on the characteristics of the industry and the availability of data,select listed companies in heavily polluting industries as research samples,based on the annual reports of listed companies in 2013 and the information disclosed in social responsibility reports,and based on the existing research results at home and abroad,the objective weights of financial and non-financial indicators in the evaluation system are determined by entropy weight method.Constructs the research models,and descriptive analysis,correlation analysis and regression analysis were performed on the data.The empirical results show that the correlation between corporate social responsibility and financial performance is more significant than that of current corporate social responsibility and current financial performance of listed companies in heavily polluting industries in China.At the same time,it puts forward some suggestions on how to improve and promote the social responsibility of listed companies in heavily polluting industries,and points out the limitation and prospect of this paper.