Research On The Impact Of Social Responsibility Of Listed Companies In The Mining Industry On Financial Performance

Under the new normal of economic development,my country's development philosophy has shifted from one-sided pursuit of GDP growth to comprehensive high-quality development of society,people and ecology.In 2019,the country's multi-sectoral joint publication of the"Green Industry Guidance Catalog" pointed out that companies should put green development in the first place,clarify their own responsibilities in green development,and actively perform social responsibilities.The mining industry is an important basic industry in my country.Its rapid development has caused many social problems such as environmental pollution,safety accidents and illegal land use.These problems not only reflect the lack of corporate social responsibility,but also affect the sustainability of mining companies.development of.For many years,the pursuit of profit growth has been a deep-rooted business goal of Chinese companies.Therefore,whether and what impact the social responsibility of mining companies will have on their financial performance has become a key issue in the construction of corporate social responsibility.In this paper,by combing the relevant theoretical basis and literature review,guided by the current mainstream stakeholder theory,combined with the characteristics of the industry,it identifies the stakeholders of corporate social responsibility in the mining industry.On this basis,the current situation and existing problems of mining enterprises' fulfillment of the social responsibilities of the six stakeholders are analyzed.Selecting listed companies in the mining industry in Shanghai and Shenzhen from 2015 to 2019 as the research objects,establishing variable indicators,proposing research hypotheses,constructing multiple linear models,and empirically analyzing the impact of social responsibility on current and lagging financial performance.The following conclusions are drawn:(1)There is a lack of corporate social responsibility in the mining industry and the overall performance level is low.(2)The impact of social responsibilities of different stakeholders on financial performance of listed companies in the mining industry varies,but most of them have a positive impact.Among them,the active performance of responsibilities to shareholders,creditors,the government and the community has a significant positive impact both in the current period and the lag period,and the performance of customer and employee welfare responsibilities has a significant negative impact on the current and lag period financial performance.Based on the above conclusions,this article proposes corresponding countermeasures and suggestions from the three aspects of enterprise,government and society.