Corporate Social Responsibility and Corporate Financial Performance -Empirical Research of Chinese Culture, Sports and Entertainment industry

• 作者: Jingyi Liu Ye Lu
• 来源期刊: 经济管理学刊:中英文版
• 学科: 经济
• 关键词: CORPORATE Social RESPONSIBILITY CORPORATE Financial Performance Culture SPORTS and ENTERTAINMENT Industry
• 年，卷（期）: 2019,（1）
• 页码范围: 75-81
• 页数: 7页
• 分类号: F

摘要

Since 2006, the public corporations in China are required to include its social responsibilities in its annual report by company law. Corporations’ business activities should not only focus on maximizing its economic profit but also serve the society. With the awareness of the importance of social responsibility, there are an increasing number of public corporations in China to undertake more charitable activities or employee training activities. There have been a lot of academic researches investigating the relationship between corporate social responsibilities and corporate financial performance. However, the results are inconsistent and vary according to different industries. This study chose Chinese culture, sports and entertainment industry as a sample to test the relationship between CSR and corporate financial performance. Four financial ratios were used to test whether the caproate’s reasonability to government, employee, investors and society has significant impact on its financial performance. The empirical results show that apart from the responsibility to employees which is negatively influence the corporate financial performance the other three factors are found not significantly influence corporate financial performance.