Social Responsibility and Financial Performance of Electric Power Enterprises

Abstract

This paper empirically tests the relationship between corporate social responsibility and financial performance in the power industry based on the listed companies in 2012-2018. It is found that there is a significant positive correlation between the financial performance and social responsibility of power industry enterprises, indicating that the better the financial performance is, the better the power industry enterprises will perform their social responsibility; the current social responsibility of power industry has a significant negative correlation with the current financial performance, indicating that social responsibility becomes the cost of power industry enterprises, and the degree of social responsibility performance The higher the level, the worse the financial performance of the power industry enterprises; there is a positive correlation between the early stage social responsibility of the power industry and the current performance, but it fails to pass the significance test, which shows that the positive impact of the corporate social responsibility of the power industry needs to appear after a certain period of time, but the positive relationship is unstable.