Empirical Study On The Impact Of Social Responsibility On Financial Performance Of Coal Enterprises

In recent years,with the continuous improvement of China’s economic opening to the outside world,and the acceleration of economic integration process,the issue of social responsibility in corporate,especially the relationship between corporate social responsibility and financial performance have attracted much attention.The coal industry,as a typical high pollution,high risk industry,there are such problems as waste of resources,production safety,environmental pollution and labor relations issues during the production process,which determine the coal enterprises not only to bear the common social responsibility,but also to pay attention to the social responsibility of the enterprise of coal enterprises.In this paper,we choose coal listed enterprises as research samples,to research the relationship between social responsibility and financial performance of coal enterprises,in order to guide the coal enterprises to undertake the social responsibility actively as well as promote economy,society and environment developing harmoniously.This paper is based on the theory of stakeholder and corporate social responsibility,reinterpreting the connotation of enterprise social responsibility,constructing the Pyramid model of social responsibility in the coal enterprise,and analyzing the influence on the financial performance of the coal enterprises to fulfill their social responsibility.By using of the descriptive statistics,correlation analysis,multiple regression analysis and panel data regression analysis,to study the above problems.The result is that,if the coal enterprises could fulfill their social responsibility for shareholders,creditors,suppliers,consumers,employees and the government,it can enhance their financial performance produce significantly,the conclusion is consistent with the assumption;while the coal enterprises fulfill the social responsibility to the public,will have a negative impact on the financial performance,which is inconsistent with the assumption,the main reason is that the effect is lagging.