The Study On Financial Performance Of Baosteel Based On Social Responsibility

In recent years,conflicts between enterprises and stakeholders occurred frequently,which is caused by the lack of corporate social responsibility.Iron and steel enterprises as state-owned enterprise are obliged to carry out their social responsibility.Many scholars have found that there is a positive correlation between social responsibility and corporate financial performance by empirical researches.Therefore,the introduction of corporate social responsibility to the financial performance evaluation system can guarantee the implementation of corporate social responsibility,but also can improve the financial performance of enterprises.This paper studies the existing financial performance evaluation system and social responsibility theory,constructs the financial performance evaluation system based on the social responsibility perspective,establishes the evaluation model by using the gray relational analysis,selects the Baosteel as an example,evaluates the Baosteel’s performance of social responsibility and financial performance,provides a reference for the integration of the two evaluation system.This paper builds a new financial performance evaluation under the perspective of social responsibility.Based on the gray system theory,this paper uses the combination of the gray relational analysis and the entropy-weight method as the evaluation method of financial performance from the perspective of corporate social responsibility,and constructs the financial performance evaluation from the perspective of social responsibility model.Combining the existing evaluation system and model,this paper chooses Baosteel as the research object,then evaluates its financial performance from 2010 to 2015,compares the evaluation results and obtains the final conclusion and puts forward the improvement of the implementation of social responsibility and financial performance.