Qi, Yuli
(2020)
The Relationship Between Corporate Social Responsibility and Corporate Financial Performance in Extractive Industry of China.
[Dissertation (University of Nottingham only)]
Abstract
With the rapid development of the global economy today, more and more environmental and social issues have emerged. Since China's reform and opening up, the rapid economic development has also triggered a series of social problems and conflicts, such as environmental pollution, safety accidents, and labor disputes. These problems will not only affect the sustainable development and normal operation of enterprises, but also threaten the stability and development of society. The issue of corporate social responsibility (CSR) has become a common concern of the government, enterprises, academia, and even the entirety of society.
As a pillar industry of the Chinese economy, the extractive industry provides abundant raw materials for a number of industries and plays an important role in promoting the economic development. However, the extractive industry is also a high-risk and high-polluting industry. It is prone to dangers during the production process, leading to huge economic losses, casualties and environmental pollution. Therefore, it is necessary to attach great importance to the CSR of the extractive industry.
This dissertation firstly introduces the relevant theories and literatures of CSR and financial performance. Secondly, the CSR and financial performance evaluation system of China's extractive industry are built based on stakeholder theory. Thirdly, the data of 68 listed companies in the extractive industry in China is selected as sample and quantitative research methods are used to analyze the relationship between the CSR and financial performance of extractive companies and analyze the research results and make relevant recommendations.
The research results show that in China's extractive industry, the fulfillment of CSR has a promotion effect on financial performance, but the correlation coefficient is low, and the impact is limited. But this is due to the entire environment of the China’s extractive industry to fulfill the CSR is still in the developing stage. Only the firms in the industry proactively assume the CSR and government also give support to them, can the entire environment be better.
Key words: Corporate Social Responsibility, Financial performance, Stakeholder
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