Research On The Impact Of CR Cement’s Social Responsibility On Financial Performance

With the expansion of the scale of enterprises and the expansion of the company’s business scope,more and more enterprises have begun to realize the importance of fulfilling social responsibilities for the company’s future development.The Party Central Committee attaches great importance to the topic of social responsibility,and the academic community has studied it a lot.At present,most scholars use empirical research to analyze the relationship between corporate social responsibility and financial performance,but such large-sample research can usually only reflect the common problems between companies,and it is difficult to solve the problems of the company’s own personality.In addition,corporate social responsibility resources are limited,but most enterprises lack the awareness and way to rationally allocate such resources,which causes the benefits of corporate responsibility cannot be maximized,and even enterprises are unwilling to fulfill their social responsibilities.The building materials industry is a pillar industry for the development of China’s construction industry and national infrastructure,which has an important relationship with the development of the national economy and social stability.Compared with other industries,the building materials industry has the characteristics of high pollution,high risk and high input,which requires enterprises to pay more attention to social responsibility issues in the process of governance.For example,in ensuring the safety of employees’ production and life,protecting the ecological environment,and paying attention to product quality,etc.,to improve the fulfillment of their social responsibilities.Based on the logic of impact mechanism analysis-status quo analysis-contribution degree analysis,combined with social contract theory,stakeholder theory,reputation capital theory and social capital theory,this paper takes China Resources Cement Holdings Co.,Ltd.,which has relatively complete social responsibility management in the building materials industry,as the research object,and on the basis of reviewing relevant literature,first analyzes the performance status of China’s building materials industry and the performance problems in the industry.Based on the theory of reputation capital and social capital,the impact mechanism of corporate social responsibility on financial performance is analyzed,and it is revealed that the company’s performance of responsibility will bring economic value to the company itself and its stakeholders.Secondly,the basic overview of CR Cement is described,and the current situation of corporate social responsibility performance is analyzed and evaluated.On this basis,the social responsibility evaluation index and financial performance evaluation index are selected,and the gray correlation analysis model is used to obtain the correlation degree ranking of CR Cement’s social responsibility performance to the short-term financial performance and long-term financial performance of the enterprise,and the ranking results are compared and analyzed with the importance issues of the social responsibility report prepared by CR Cement.The findings of this paper are as follows:(1)The contribution of enterprises to both short-term and long-term financial performance is the highest,followed by environmental responsibility and public responsibility.(2)The company’s performance of employee responsibilities contributes the weakest to short-and long-term financial performance,followed by partner responsibility.(3)The role of enterprise performance of customer responsibilities on short-term financial performance is more obvious than long-term financial performance.(4)Although the performance of public responsibilities by enterprises has an impact on both long-term and short-term financial performance,it is obvious that its contribution to long-term financial performance is more obvious.(5)From the perspective of financial performance,in the ranking of important topics in CR Cement’s social responsibility report,there is a possibility that the importance of collaborative disposal of solid waste,intellectual property management and transformation of scientific research achievements,charity and public welfare,volunteer activities and disaster relief,investment and employment promotion,and rural revitalization may be underestimated;Employee development and training issues,customer rights and satisfaction issues may be overestimated.