Research On The Relationship Between Corporate Social Responsibility And Corporate Performance Of The Food Enterprises

As a special manufacturing industry, the food industry has intimate relationship with people’s life and health, which is not only the foundation for the subsistence and the development of human beings, but also the essential condition for state development and social stability. It is very important for food companies to fulfill social responsibility. Although China’s relevant laws have been formulated, C hina’s food safety situation is not optimistic in recent years. The events of food safety happened frequently. So people also pay more and more attention to the impact of corporate social responsibility on enterprise performance. The balance between the social responsibility and corporate profit has become a central issue that enterprises focus on.This paper analyzes the relationship between the social responsibility and corporate performance from the industry level and case level respectively. The reasons of lack of social responsibility events are also analyzed from two aspects: external supervision and internal control. What’s more, this paper is based on the financial data of Shuanghui Group from 2006 to 2014, and builds the composite index of responsibility performance. Then this paper systematically analyzes the impact of the fulfillment of corporate social responsibility on corporate performance from the aspects of market performance and financial performance. It is worth noting that we also analyze the way of the fulfillment of corporate social responsibility affecting corporate performance and we get the long-term effective mechanism of corporate social responsibility. The results are reasonably extended to the entire food industry, in order to enhance the enthusiasm and initiative of food enterprise to fulfill the society responsibility. We also deal with the relationship between social responsibility and their own development, and provide some advices to government about establishing incentive mechanism of corporate social responsibility.After the study, we found that when "C lenbuterol" incident broke out, the stock immediately sealed drop stop. Then the attitude of Shuanghui Group trying to evade responsibility also made the company hit by product market and capital market. By using event study, we analyze the corrective actions, including formulating related safety quality control regulations, recalling the unqualified products and deep processing, introducing advanced equipment and technology to improve the quality of enterprise security control ability. Shuanghui Group pro ved their determination to consumers and investors by action and brought the social responsibility into the enterprise development strategy. In 2012, Shuanghui Group got out of the haze and realized a big improvement on market performance. It was also found that the change of the two indexes almost always kept the same. In 2011, because of the impact of "C lenbuterol" incident, social responsibility index and accounting performance index are the lowest in nearly 9 years. Based on Credit capital theory, Stakeholder theory and Symbiosis theory, we study the transmission mechanism of the performance of social responsibility on corporate performance, and got the long-term mechanism of corporate social responsibility. Finally, to solve the existing problems in terms of the social responsibilities of the enterprises, this paper draws the following conclusion that the government, enterprises and society should make efforts to propel the fulfillment of corporate social responsibility and to promote our society develop sustainedly.