Sustainable Growth Of Corporate Social Responsibility And Financial Correlation Analysis

Enterprises are the creators of social wealth, but are also the responsibility of units who waste resources and harm the environment directly and indirectly. National economic level is decided on the overall level of enterprise; country competitiveness is decided on the overall efficiency of enterprise; the corporate social morality and sense of responsibility is critical to build a harmonious society sustainable growing. Western countries have been carried out the research in corporate social responsibility nearly a century, and particularly since the eighties, the problem has become a hot research from all walks of life. In China, the theory and practice also pays more and more attention to corporate social responsibility. Now more enterprises are focusing on whether enterprises can strike a balance between their social responsibilities fulfillment and obtain profits for shareholders and whether it will bring about a negative impact for sustainable development after fulfilling their social responsibilities.On the basis of full absorption of domestic and foreign scholars'research results on corporate social responsibility, this paper analysis the correlation between Chinese listed companies'corporate social responsibility and financial capacity for sustainable growth. Firstly, in theory, we analyze the relationship between corporate social responsibility and sustainable growth of the financial capacity from the perspective of the needs theory and stakeholder theory. Secondly, the paper does empirical studies on the correlation between Chinese listed companies'corporate social responsibility and financial capacity for sustainable growth and shows that corporate financial capacity for sustainable growth has a significant positive with the current social responsibility performance, a significant weak positive correlation with the social responsibility performance one or two years before, and the current social responsibility performance has a significant positive correlation with last year's financial capacity for sustainable growth. Finally, on the basis of previous study, the paper discussed the factors of this correlation between corporate social responsibility and financial capacity for sustainable growth separately, using partial correlation model, such as the year, industry, firm size, enterprise performance. The results show that the business performance has a larger effect on this correlation and the other three factors have little.