기업의 사회적 책임이 재무성과에 미치는 영향: 중국기업을 중심으로

Purpose: The purpose of this study was to examine how Impacts of Corporate Social Responsibility on Financial Performance in China. Regression analysis of social responsibility and financial results was carried out. Considering that different industries may have different impacts, the sub-industry analysis was carried out. Research design, data, and methodology: The current research selects three industries including food and beverage, petroleum and chemical, textile, clothing, and fur manufacturing industries among the A-share listed companies in Shanghai and Shenzhen stock exchanges. A total of 580 observed values from 116 enterprises in the five consecutive years 2015-2019 are selected as the research objects to empirically analyze the relationship between corporate social responsibility and corporate performance. Results: The results show that corporate social responsibility will have a positive impact on financial performance. Different industries have different impactson corporate performance for different stakeholders. Implications: It is hoped that enterprises can enhance their awareness of social responsibility and realize that stakeholders are the basis for their survival and development. Actively fulfilling social responsibility can enhance the satisfaction of all stakeholders, gain the trust and support of all parties, improve corporate image, and promote the improvement of financial performance.