Current Analysis on
Economics & Finance

Research Article  |  Published 27 November 2018

Should Energy Corporations Participate in Fulfilling Social Responsibility?

Zhuwei Li*, Baolu Wang, Tiantian Xulin, Yuan Fu and Sennan Liu

Faculty of Management and Economics, Dalian University of Technology, Dalian 116024, China

Abstract

This article investigates the relationship between energy corporate social responsibility and corporate financial performance used 50 listed Chinese energy companies from 2006 to 2015. Results indicate that fulfilling the responsibilities to shareholders, creditors, and the government will help an energy enterprise in realizing its financial goals, whereas fulfilling the responsibility to consumers may negatively affect its short-term accounting performance but is beneficial to its market value. Furthermore, fulfilling the responsibilities to the community has no clear relationship with the realization of the financial management target during the period of the 11th Five-Year Plan. However, a significant positive relationship is noted during the period of the 12th Five-Year Plan.

Keywords:
Corporate Social Responsibility; Corporate Financial Performance; Chinese Energy Corporations; Environmental Contribution; Accounting Performance; Market Performance.

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