Research On The Correlation Between The Social Responsibility And Financial Sustainability Of Electricity Listed Companies

With the continuous development of commodity economy,people's demand for quality of goods or services is also higher and higher,and enterprises are required to undertake more social responsibility while completing the production.The electric power industry is of high energy consumption and high technology of the people's livelihood security industry,the production process occupies a large amount of natural,technology and human resources,and its products and services are related to the normal development of the social economy.In recent years,more and more attention has been paid to environmental pollution,energy structure reform,employee security and other social responsibility issues in the power industry.As a participator in market competition,electricity listed companies need to consider the harmonization of economic benefits and social benefits.Based on the elaborating the current research status of social responsibility and financial sustainable growth at home and abroad,starting from the capital structure,assets structure and management characteristics of electricity listed companies,combined with the basic theory of the stakeholder theory and the demand theory,this paper makes a theoretical analysis of the relationship between the two.This paper argues that as a capital-intensive enterprise,listed power companies actively assume social responsibilities to all stakeholders,help improving the ability of financial sustainable growth and achieving a higher speed of coordinated development.In this paper,we use the information of social responsibility reporting to design an environmental responsibility evaluation method,and build a social responsibility evaluation system for electricity listed companies based on the stakeholders' ideas,including shareholders,creditors,suppliers,employees,the government and the environment.Based on the data of the recent five years as a statistical sample using factor analysis,correlation analysis,regression analysis and partial correlation analysis of statistical methods,this paper empirically analyzes the correlation between social responsibility and financial sustainable growth of electricity listed companies.The empirical results show the following conclusions:(1)the social responsibility of listed companies in electricity has a lagged impact on the sustainable financial growth;(2)the fulfillment of the responsibilities of various stakeholders in the electricity-listed companies has different impacts on the sustainable financial growth,commitment to shareholders,governments and suppliers has a significant positive effect on the current and future financial sustainable growth,assuming responsibility for the environment has a significant positive effect on the future financial sustainability;(3)The sustainable financial growth of listed power companies also has a positive impact on assuming the responsibility of social responsibility;(4)The two factors,the size of the company and the year,has certain influence on the correlation between the two,but it is not obvious.Based on the results of the retical research and empirical research,this paper also puts forward some suggestions on enhancing the innovation of science and technology and emphasis on supplier management for the listed companies in power industry,and puts forward some suggestions to the government on strengthening laws and regulations and guiding ideology.