Empirical Research On The Effection Of Corporate Social Responsibility To The Financial Performance

With the development of society and economy,and the improvement of the comprehensive quality of citizens,the requirements of the social responsibility are raised to a new level.In such a large background,the relevant departments have also introduced some related policies and regulations about the corporate social responsibility.However,in recent years,some terrible events exposed the lack of corporate social responsibility,such as lean meat powder event,swill oil event,Poisonous rice event,Nescafe milk iodine exceeding the standard event,Sperm protein event.Because of so many of corporate social problems,this article is for the purpose of analysis of the impact of corporate social responsibility on the financial performance from the business stakeholders perspective,in order to improve the consciousness of the enterprise managers to undertake corresponding social responsibility,and to reduce the occurrence of corporate social responsibility accidents.So the research about the impact of corporate social responsibility on enterprise financial performance has great practical significance.It is important for the development of the corporate.This paper selects the non metallic mineral products manufacturing industry,ferrous metal smelting and rolling processing industry,non-ferrous metal smelting and rolling processing industry,metal industry in Shenzhen Stock Exchange and Shanghai Stock Exchange A shares market as the research sample,the classification is on the basis of the classification of China Securities Regulatory Commission promulgated the" listing Corporation industry guidelines(revised 2012)" for reference.This paper intends to using the empirical results to prove the impact of corporate social responsibility on financial performance of the enterprise.We using the analytical method of correlation analysis and regression analysis of the sample data.The empirical research makes the results of this study are both reliable and persuasive.The results of the study show that,the enterprise undertaking the social responsibility of shareholders has a significant impact on the company's current financial performance,and the impact for the next year and delaye two years of the financial performance is also significant;the enterprise undertaking the social responsibility of creditors has a significant impact on the company's current financial performance,the impact for the next year of the financial performance is significant,but the influence is not significant for the delayed two year's;there is no significant influence on the current,next and delayed two year's financial performance;the enterprise bearing the social responsibility of the supplier's has a significant impact on the company's current financial performance and has a weekly significant influence on the financial performance of next year,but the influence is not significant for the delayed two year's;enterprises undertaking the corporate social responsibility of the customer's has a significant impact on the company's current financial performance,and the impact for the next year and delaye two years of the financial performance is also significant;the enterprise bearing the social responsibility of government has significant influence on current financial performance of the enterprise,and the impact for the next year and delaye two years of the financial performance is also significant.Therefore,combination with the related theoretical analysis and the empirical analysis results,this paper on whether enterprises should perform social responsibility to stakeholders and how to fulfill the social responsibility to stakeholders offering relevant suggestions.This paper analyzes the impact of corporate social responsibility to the financial performance of the listed company from the perspective of stakeholders,and the using of relevant theoretical knowledge and Empirical Analysis on sample data making this paper more reasonable and valuable.After the empirical analysis of the sample data,this paper using related theoretical knowledge to explain and analyse the results,and to put forward relevant policy suggestions.But in this paper the shortage of this article is the selection of indicators of social responsibility in the representative deficiency and because of the collection conditions of received materials,the nonfinancial indicators of some strong representation without into the scope of the study of this paper.So we need to be further improved.Although there are many deficiencies,but the empirical research of this paper on whether the enterprise should undertake the socialresponsibility and how to assume social responsibility to provide a certain reference value.