A Multidimensional Analysis of the Relationship between Corporate Social Responsibility and Firm’s Financial Performance—Based on the Data of 78 Listed Companies in 10 years in Henan Province, China ()
ABSTRACT
At present, the research on the relationship of corporate social
responsibility and economic performance mostly adopts the method of large-scale
sampling, but does not distinguish the sample industries and regions, so the
relevant research needs to be further analyzed. Based on the 2008-2017 data of
78 listed enterprises in Henan province, the relationship between corporate
social responsibility and economic performance in 7 industries is measured by 8
indexes through Arellano-Bond dynamic
panel data model. The research shows that the social responsibility of listed
enterprises in Henan Province has a lagging impact on the economic performance
of enterprises, which has a negative impact on the short-term and a positive
impact on the long-term. The common point is that the responsibility of the
investor has a positive impact on the economic performance of the enterprise,
and other aspects vary greatly due to industry categories. In general, the
degree of corporate social responsibility of listed enterprises in Henan Province
is relatively low.
Share and Cite:
Chen, S. , Zhang, D. and Hao, M. (2019) A Multidimensional Analysis of the Relationship between Corporate Social Responsibility and Firm’s Financial Performance—Based on the Data of 78 Listed Companies in 10 years in Henan Province, China.
Open Journal of Applied Sciences,
9, 104-114. doi:
10.4236/ojapps.2019.93009.