Study On The Relationship Between Stakeholders And Corporate Environmental Responsibility Performance

In recent years,China’s environmental pollution incidents occur frequently,the listed companies are facing severe environmental management pressures.Although the modern enterprises are essentially the economic organizations for capital appreciation,nowadays the companies need to take into account the interests of all stakeholders.Indeed,a large amount of capital investment is required for technological innovation and environmental management,what will undoubtedly increase the operating costs of enterprises,even be the risk of falling financial performance in the short term.However,a large number of literature and case studies show that Enterprises actively undertake social responsibility to maintain a good corporate image,and the formation of difficult to imitate competitive advantage.Based on sustainable development theory,stakeholder theory,asymmetric information theory and corporate reputation theory,the author reviews the existing research on the influencing factors and economic consequences of the implementation of corporate environmental responsibility.And the author expounds the reasons for the enterprises to fulfill their environmental responsibilities and the specific path,and provides a theoretical basis for the case study.This thesis attempts to take a single case study method which begins from the 2011 Yangnong environmental events.Taking into account how the stakeholders in all aspects of the enterprises to urge them improve their environmental management,by means of community residents protesting,media enlarging public opinion,market investors selling stock and so on.Facing the strong environmental demands of stakeholders,Yangnong was not that negative coping like what it did in 2009,but to actively cultivate awareness of environmental protection and pay attention to scientific and technological innovation,in order to improve the level of environmental responsibility.And in the Ministry of environmental protection environmental verification work,Yangnong successfully passed the acceptance,what reflected the effectiveness of its environmental management activities.At the same time to improve the environmental responsibility,Yangnong financial performance and overall enterprise value also showed an upward trend.Different types of stakeholders can promote enterprises to improve the level of environmental responsibility and enhance the ability of sustainable development through a variety of ways.This research has positive significance for improving the current situation of environmental pollution from the source.