Research On The Impact Of Social Responsibility Information Disclosure Of Listed Companies In The Power Generation Industry On Corporate Financial Performance

As one of the main participants in the market economic activities,the traditional point of view is more concerned about whether the enterprise can fulfill the obligations that need to be fulfilled by the enterprise,such as paying taxes,protecting employees’ work rights and other laws and regulations.Entering a new stage,a new point of view is gradually popular,this point of view that the development goals of enterprises should also include the performance of social responsibility.If an enterprise wants to gain a more favorable position in an increasingly competitive environment,it is required that the enterprise should not only pursue profit growth,but also respond to the concerns of all sectors of society,which is a necessary way to ensure the stable and healthy development of the enterprise.According to the evaluation on the social responsibility of the power industry in China’s Corporate Social Responsibility Research Report in 2019,the power industry has been ranked first in the list for 11 consecutive years in fulfilling its social responsibility.But at the same time,there are some deficiencies in the social responsibility performance of the power generation industry,which is one of the 16 high pollution industries in China.With the transformation of economic structure,the power generation industry is also facing a new test: the total amount of industrial power consumption is declining,the price of coal continues to rise,and the Chinese government promises to further strengthen the total carbon emission management.In order to solve the difficulties and challenges in these situations,power generation enterprises should make the disclosure of social responsibility newspaper information into a media to show the corporate image,so that the power generation industry can be understood by all sectors of society,get the trust and expenditure of all sectors of society,help enterprises get more help in production and operation and infrastructure investment,and eliminate the pollution of air,water resources and soil to enterprises To create a trustworthy image for all sectors of society.In this paper,combined with the actual situation of China’s power generation industry,from the perspective of stakeholder theory,we discuss the impact of power generation listed companies’ disclosure of social responsibility information on corporate financial performance,which can be divided into two parts: theoretical basis analysis and empirical research.In the theoretical analysis,it summarizes the theory of social responsibility information disclosure and financial performance,which lays a theoretical foundation for empirical research.In the part of empirical analysis,firstly,we discuss the impact of power generation listed companies’ disclosure of social responsibility information on corporate financial performance,which can be divided into two parts: theoretical basis analysis and empirical research.In the theoretical analysis,the power generation listed companies of Shanghai Stock Exchange and Shenzhen Stock Exchange are selected as the research samples to collect and sort out the financial data from 2014 to 2018;the second step is to put forward four hypotheses to be verified,determine the explanatory variables,explained variables and control variables,establish the hypothesis model among variables,and use spss24.0 tool to test the hypothesis Based on the control variables,the empirical research is carried out to test whether the model is established,and the specific regression coefficient of the regression equation is obtained.After the above analysis,it is clear whether there is a correlation between the quality of social responsibility information disclosure and the performance of corporate financial performance.Finally,according to the analysis results,specific suggestions are put forward for the listed power generation companies in China.