The Impact of Corporate Social Responsibility Fulfillment and Environmental Management on Financial Performance

다국어 초록 (Multilingual Abstract)

This paper focuses on Chinese A-share listed enterprises and examines the correl ation and influencing mechanism linking corporate social responsibility performance, e nvironmental management and financial performance.From a theoretical perspective, th is study integrates the natural resource-based view, stakeholder theory, corporate social responsibility theory and sustainable development theory to establish a multi-dimensi onal analytical framework. Centering on enterprises’ social responsibility performance and environmental management strategies, this research incorporates green institutional settings, governmental environmental subsidies, industry attributes and other contextua l factors to analyze the specific influencing mechanisms of the above factors on corp orate financial performance. Using the panel data of Chinese A-share listed enterprises, this research adopts r egression analysis and other statistical approaches for empirical examination, aiming t o quantitatively assess how corporate social responsibility practices and environmental governance affect corporate financial outcomes. The research sample covers enterpris es across diverse industries and development phases for further detailed investigation. Data extracted from corporate annual reports and social responsibility disclosures was systematically coded and quantified to objectively evaluate the practical implementati on of CSR initiatives and environmental management practices among sampled firms. This study aims to identify existing issues in the fulfillment of corporate social r esponsibility and environmental management among current A-share listed companies and propose optimization strategies to address these issues. Ultimately, it seeks to pro vide a decision-making basis for listed companies to improve their financial performa nce, offer references for regulatory authorities to refine ESG disclosure systems and g reen institutions, and assist Chinese enterprises in achieving the synergistic growth of economic, social, along with environmental value amid the national dual carbon obje ctives and high-quality development requirements.

목차 (Table of Contents)

• CHAPTER1. Introduction 1
• 1.1 Research background 1
• 1.2 Research Objectives and Significance 3
• 1.2.1 Theoretical Significance 4
• 1.2.2 Realistic Meaning 5
• 1.3 Research Content and Technical Approach 7
• 1.3.1 Research Contents 7
• 1.3.2Technical Route 8
• 1.4 Research Methods 9
• 1.5 Contribution Points 11
• CHAPTER2. Theoretical Background and Literature Review 13
• 2.1 Related Concepts 13
• 2.1.1 Corporate Social Responsibility 13
• 2.1.2 The Concept of Corporate Environmental Management 16
• 2.1.3 The Concept of Corporate Financial Performance 19
• 2.2 Theoretical Background 23
• 2.2.1 Theoretical Foundations of Natural Resources 23
• 2.2.2 Stakeholder Theory 25
• 2.2.3 Theories of Corporate Social Responsibility 27
• 2.2.4 Theories of Sustainable Development 29
• 2.3 Literature Review 31
• 2.3.1 Research on Corporate Social Responsibility 31
• 2.3.2 Research on Corporate Environmental Management 37
• 2.3.3 Research on Corporate Financial Performance 41
• CHAPTER3. Research Hypotheses 52
• 3.1 The Impact of Fulfilling Corporate Social Responsibility on Financial Performance of Enterprises 52
• 3.2 The Impact of Environmental Management on Financial Performance of Enterprises 54
• 3.3 The Moderating Effects of Green Institutions 55
• 3.4 The Moderating Effect of Government Environmental Subsidies 57
• 3.5 The Moderating Effect of industry characteristics 58
• CHAPTER4. Research Design 61
• 4.1 Sample Selection and Data Sources 61
• 4.2 Variable Declaration 61
• 4.2.1 Dependent Variable 61
• 4.2.2 Independent Variable 61
• 4.2.3Moderator Variable 63
• 4.2.4 Control Variable 64
• 4.3 Model Design 66
• CHAPTER5. Research findings 69
• 5.1 Descriptive statistics 69
• 5.2 Correlation Analysis 72
• 5.3 Multicollinearity Test 74
• 5.4 Results of the Empirical Analysis 75
• 5.4.1 Corporate Social Responsibility, Environmental Management, and Financial Performance 75
• 5.4.2Modulating effect 78
• 5.5 Summary of This Chapter 84
• CHAPTER6. Robustness Check 87
• 6.1 Change the Sample Interval Test 87
• 6.2 Endogenous Test 88
• CHAPTER7. Conclusions and Recommendations 92
• 7.1 Research Findings 92
• 7.2 Recommendations 96
• 7.2.1 Regarding the government 97
• 7.2.2 Regarding the company 99
• 7.3 Limitations and Outlook 101
• References 104