Corporate Social Responsibility,Business Credit Financing And Corporate Performance

For a long time,the economic consequences of corporate social responsibility have not yet reached a unanimous conclusion.According to previous scholars 'studies,some scholars believe that the two are positively related,some results show negative correlation,and some studies even show that there is no direct relationship between the two.There is no study of the mechanism of action of the two.Commercial credit,as an essential part of daily business transactions between enterprises,plays an important role in the efficiency of business operations.It can shorten transaction time,reduce transaction costs,and help enterprises overcome difficulties and play an alternative financing role when they are constrained by financing.Eventually improve corporate performance.The acquisition of commercial credit is influenced by the reputation of enterprises.Enterprises actively perform their social responsibilities,can improve the reputation of enterprises,transmit to the market the signal that enterprises are trustworthy,and can effectively reduce the information asymmetry between enterprises,making it easier for enterprises to obtain commercial credit financing.As a result,business credit links social responsibility with corporate performance.However,there is little discussion about the mechanism of the three,and whether commercial credit plays an intermediary role between social responsibility and corporate performance has become the research topic of this article.In this paper,the data of China's listed companies from 2015 to 2017 are selected,and the problem data are removed.Finally,2,207 companies were obtained,and more than 6,000 data samples were taken from 2015 to 2017.Through literature combing,analyzing related theories,summarizing the previous achievements,proposing relevant assumptions,and using regression analysis methods to analyze data samples using data software,empirical testing of the proposed assumptions,and finally obtaining the ideal model after model correction.,This paper tries to explore the mechanism of social responsibility on corporate performance from the perspective of commercial credit.The results show that corporate social responsibility is significantly and positively related to corporate performance.When enterprises actively assume social responsibility,corporate performance improves significantly;Business credit and corporate performance are also significantly positive,that is,the scale of business credit to promote the improvement of corporate performance,corporate social responsibility and business credit are significantly positive correlation,that is,enterprises actively perform social responsibility can effectively improve the corporate business credit financing level.The results show that commercial credit financing has incomplete intermediary effect between social responsibility and corporate performance,that is,social responsibility has an effect on corporate performance through two ways:(1)directly affects corporate performance;(2)Influence the performance of the company through commercial credit financing.The conclusion of this paper shows that commercial credit financing has incomplete intermediary effect between social responsibility and corporate performance,and also provides reference for follow-up researchers.It can study the mechanism between the two from other aspects.Through this study,it provides a theoretical basis for enterprises to actively fulfill their social responsibilities.