Research On The Impact Of Social Responsibility On Financial Performance Of Chemical Enterprises

In recent years,due to the continuous deterioration of the global ecological environment,the lack of corporate social responsibility incidents have emerged one after another.However,the essence of enterprises is to chase profits.Under the guidance of the misconception that fulfilling social responsibilities will increase the company’s operating costs,which will adversely affect financial performance,some corporate management often adopt measures to evade social responsibilities.In this context,more and more scholars are studying the relationship between social responsibility and financial performance.How to achieve a balance between the two has become a key topic of current research.In response to the air pollution,water pollution,and production safety issues that have occurred in chemical companies in recent years,this article uses chemical companies as the research object to discuss the impact of their social responsibilities on financial performance,and put forward relevant recommendations,aiming to cultivate companies Awareness of social responsibility,the purpose of urging enterprises to assume social responsibility.This paper adopts a combination of empirical and case studies.First,based on a systematic review of theories related to corporate social responsibility and financial performance,the data of listed companies in the chemical industry from 2015 to 2019 are selected as samples,and Hexun.com’s CSR score is used as social responsibility.As a measurement indicator,the return on assets is used as a financial performance evaluation indicator to conduct empirical analysis on social responsibility and financial performance,and grasp the relationship between corporate social responsibility and financial performance from a macro level.The research results show that the performance of corporate social responsibilities of listed companies in the chemical industry from 2015 to 2019 has a strong positive correlation with their financial performance.The performance of social responsibilities of listed companies in the chemical industry can improve financial performance.On the basis of empirical research,this paper selects WH Chemistry,which has a good social responsibility performance in the chemical industry,as the case study object for case analysis.First,it analyzes the current situation of WH chemical operations and the status of social responsibility performance in recent years,and then based on stakeholders Theory,using financial indicator analysis method and trend analysis method.Case studies show that chemical and chemical products responsible for social interaction is related to financial performance.The better the performance of social responsibility,the higher the financial performance,and vice versa.Finally,after summarizing the results of empirical analysis and case analysis,this paper puts forward suggestions from three aspects of enterprise level,policy level and social level to explore the balance between social responsibility performance and financial performance growth.