A Study On The Relationship Between Social Responsibility And Firm Performance In Listed Financial Enterprises

Corporate social responsibility has a long history of development in foreign countries, After decades of development, corporate social responsibility theory has been widely endorsed by the international community, and put this new enterprise theory into the enterprise development strategy. Corporate social responsibility originated in the America, in the "inspired shareholders" theory, the researchers and enterprise development related interest groups extension expansion, the enterprise should not only responsible for shareholders, creditors, employees also need to customers, to environmental responsible for the public, agency. The Emergence of the theory of corporate social responsibility in our country is late, although in recent years, some enterprises made a lot of efforts in taking the social responsibility, also made some achievements, but compared with the whole market environment, enterprises have significantly improved also needs in the social responsibility. Corporate social responsibility is not just corporate philanthropy, but entire social development responsibility. Many enterprises think that undertake more social responsibility needs more of the burden of the cost. To the enterprise, the extra cost caused a decrease in the interests of enterprises. It is precisely because the understanding deviation of corporate social responsibility caused many enterprises do not want to assume the phenomenon of social responsibility. Corporate social responsibility on the surface needs to consume more resources, to pay greater costs, but in the long run, to enhance corporate social responsibility to prove the enterprise value of enterprise performance, and also has a role in promoting. From the domestic and foreign literature, there are more researches of corporate social responsibility, but the research on financial industry corporate social responsibility and corporate performance is very little. In recent years, with the rapid development of China’s financial industry, the financial industry influence is more and more big, the financial industry to fulfill social responsibility requirements are also getting higher and higher. From the industry as a whole to fulfill their social responsibilities, financial enterprises to fulfill their social responsibility efforts more and more big. To the whole society is also a great contribution. But from a comprehensive, more social responsibility needs financial enterprises to bear up. On the other hand, not all business in the financial industry has a clear understanding to fulfill their social responsibility value. So in this paper, through theoretical analysis and empirical analysis, it enhance the enterprise society responsibility of positive significance to the enterprise performance of persuasion.Firstly, this paper reviews the history of the development of corporate social responsibility theory, stakeholder theory and the latest advances in those theories and in practice development, discusses the relevance theory of corporate social responsibility and stakeholder theory, in order to lay a theoretical foundation for the research. In the perspective of stakeholders, in the third chapter, the paper clearly defines the corporate social responsibility of five aspects:shareholders, employees, creditors, consumers and the government. Then discusses the relationship between corporate social responsibility and corporate performance theory. Combined with the current China financial industry corporate social responsibility information, it uses the stakeholder theory as a framework to build the index system for quantitative evaluation of Chinese financial enterprises of social responsibility. Last this paper use the 35 listed financial enterprises data to analysis of the relationship between corporate social responsibility and corporate performance. Through descriptive statistics, correlation analysis and regression analysis, it gets the results between the financial corporate social responsibility and corporate performance. This paper gets some research results based on theoretical analysis and Empirical Analysis. First, financial enterprises in the social responsibility investment more and more. More and more financial enterprises of social responsibility concept is gradually improved, which for the society as a whole are great progress. But financial enterprises of social responsibility information disclosure system is not perfect, the financial corporate social responsibility information should be more detailed, and use more concrete data to explain the situation to ensure the information accuracy. Second, the financial enterprises undertake corresponding social responsibility to shareholders, employees, consumers and the government has a positive role in promoting enterprise performance. But to the creditor assumes it has no correlation between social responsibility and corporate performance. Based on the research conclusions, this paper puts forward relevant policy suggestions. First, it is necessary to establish a sound corporate social responsibility information disclosure system. Second, departure from the company’s own financial point to improve the social responsibility level. Third, promote the concept of corporate social responsibility to investors and stakeholders.