Research On Economic Prosperity, Finance Capability And Corporate Social Responsibility

With the economic development and social progress,the issue of corporate social responsibility has become a common focus of business and society.Behind the economic development,problems like environmental pollution and food safety continue to occur.Corporate Social Responsibility is a huge challenge for sustainable development in China.In the future,enterprises that can stand out from commercial competition must be those who have made changes and have sustainable development competitiveness.The corporate social responsibility performance can promote its growth and sustainable competitiveness.This paper takes 2009-2016 A-share listed companies as the research object,measures the macroeconomic fluctuations by dividing the macroeconomic environment into two stages: the economy boom and the recession.Based on the theory of the macroeconomic environment and the theory of financial capacity And corporate social responsibility based on the theory,empirical test of the relationship between corporate financial capabilities and corporate social responsibility and the macroeconomic environment on the relationship between financial characteristics and corporate social responsibility,to enhance corporate social responsibility awareness,balance of business Financial performance and social responsibility performance,to improve the country's macro-control has important economic and social significance.The main conclusions of this paper are as follows: Through empirical research,the paper found that in the net effect,there is a significant positive correlation between corporate profitability and corporate social responsibility;The higher the debt-to-asset ratio,the less advantageous corporate performance of social responsibility;strong asset management ability to promote corporate social responsibility;development capacity and corporate social responsibility there is a significant negative correlation.In the comprehensive effect,in addition to profitability,the relationship between other financial capabilities and corporate social responsibility has passed a significant test.While considering the macro economy,we found that the degree of economic prosperity does not make a significant difference in the relationship between profitability,development capability and corporate social responsibility.As for the solvency,the thriving economy will reduce the effect of liabilities to social responsibility when compared with the economic downturn.Compared with the economic downturn,in the economic boom period,asset management ability play a stronger role promoting corporate social responsibility.Based on the results,This paper proposes that under the premise of pursuing the goal of maximizing social benefits and corporate value,the government and enterprises must make reasonable decisions to seek balance in financial performance and social responsibility performance,and strengthen research and judgment for macroeconomic and so on.