基于生命周期理论的上市公司社会责任与财务绩效相关性的实证研究

Relation between corporate social responsibility and financial performance is an important issue in field of corporate social responsibility. Based on the corporate life cycle theory, this paper selects the financial information disclosed of annual reports of manufacturing listed companies in Shanghai and Shenzhen as a sample and empirically research. the relevant between corporate social responsibility and financial performance. The research shows that enterprises in different stages of the life cycle has the different understanding of social responsibility and its ability to perform, this leads to the different effect corporate social responsibility has on the financial performance.