A Study On The Impact Of Corporate Social Responsibility On Financial Performance Under Media Attention

With the increasing public concern about the ecological environment,environmental pollution caused by the failure of heavy polluting enterprises such as steel and chemical industry to fulfill their social responsibilities has become a focus topic.The media,as a third-party regulatory agency independent of government departments,has made public the environmental pollution problems of heavily polluting enterprises,so that the government and the public can quickly respond to the pollution incidents and put pressure on the pollution-related enterprises to rectify.A large number of environmental pollution incidents reflect that some polluting enterprises in China have insufficient awareness of social responsibility.Under the pressure of the media,most polluters involved in the pollution are bound to invest capital costs to take corrective measures,bringing economic pressure to the polluters involved.According to the above questions,the research objectives of this paper include: under the pressure of media attention,will it promote the heavy polluters involved to actively fulfill their social responsibilities? How does the change of CSR level affect the short-and long-term financial performance of enterprises?Based on the above research purposes,this paper adopts the research method of combining literature research and case study,taking the small and medium-sized steel production enterprise S in China as the research object,and explores the impact of corporate social responsibility on financial performance under the media attention.This research mainly includes three aspects.Firstly,the literature research method is adopted to sort out and analyze the relevant literature at home and abroad,and summarize the impact of media attention on CSR performance,as well as the impact of CSR performance on CSR financial performance.Secondly,the case study method was used to make a comparative analysis of the relevant data of S iron and steel company,to analyze the changes in the CSR level of the company before and after the media paid attention to the environmental pollution incident,and the impact of the changes in CSR level on the short-term and long-term financial performance of the company.Finally,through literature research and case studies,it is concluded that true and comprehensive media disclosure mechanism and strict and perfect government supervision mechanism can promote enterprises to actively fulfill their social responsibilities,and enterprises’ behaviors of actively fulfilling their social responsibilities can promote their financial performance in the long run.Therefore,this paper takes S iron and steel enterprise as the research object.According to its research conclusion,it hopes to promote Chinese heavy industry enterprises to actively fulfill their social responsibilities.