The Influence Of The Enterprise To Fulfill Social Responsibility On Financial Performance

Social responsibility has become a focus of attention of academia and industry,as to food safety issues,employees unpaid problems such as "scandal" gust,making companies pay more attention to social responsibility.Ignoring the social responsibility,companies reputation will be damaged or bankruptcy.In recent years,Academic circles make focus on the relationship between social responsibility and financial performance,but there is not consistent conclusion.Throughout the two relations research,we can found scholars having thought that the nature of the industry is an important factor of affecting the relationship between social responsibility and financial performance.Industry nature determines the position of enterprises in supply chain and faced by consumers,the content of the different industry enterprises to fulfill social responsibility is different.At present there are few scholars to nature of the industry as a breakthrough point to study the influence of the social responsibility on financial performance,considering the enterprise by the"limited resources" and "profit" dual constraints,it is not possible to the allocation of limited resources evenly to all stakeholders but selectively assigned to the main stakeholders,and allocate resources decisions are often influenced by the nature of the industry.Based on this,this article from the nature of the industry Angle comparing the enterprises of different industries to perform on the impact of social responsibility on financial performance.First,reviews the existing literature about the relationship between social responsibility and financial performance,putting forward to the review of the research Angle of view,and the theoretical model and the related theory analysis hypothesis,the last panel data regression analysis.In this paper,mainly selecting coal mining,textile industry,retail,real estate,general equipment industry,culture industry,427 listed companies in 2009-2013 annual data as the research sample.According to various industries in the supply chain position six industry can be divided into two categories:front end enterprise supply chain and supply chain teminal enterprise.The enterprise of front end of supply chain includes:coal mining industry,textile industry and general equipment;The enterprise of terminal supply chain includes:retail,real estate and cultural media industry.And using statistics software SPSS and STATA to do compared the regression analysis on enterprises after classification.The results of the study are:(1)not considering factors of industry,enterprise performance of the overall social responsibility has a positive effect on financial performance.This is the same as the mainstream point of view,most of scholars at home and abroad to come to the conclusion that positive correlation or positive influence;(2)regardless of industry elements,for each stakeholder to fulfill social responsibility have different effects on financial performance,for example,the government responsibility has positive effects on financial performance,but for shareholders,employees and social charity responsibility negative influence on financial performance;(3)after industry classification,front end of supply chain enterprises perform responsibility to the government and shareholders have positive influence on financial performance,but to employees and social charity,the influence on financial performance is negative;(4)after industry classification,the terminal of the supply chain enterprise perform society responsibility to the government and the of charity having the positive influence on financial performance,but performance of social responsibilities for shareholders and employees,having negative influence on financial performance.