scholarly journals An Assessment on Financial Performance of Listed Companies in the Industry of the New Energy Automobiles in China

Author(s):  
Fei Yi
Author(s):  
Chih-Yi Hsiao ◽  
Hao-Wei Chen

This study focuses on a sample of Chinese listed companies from 2019 to 2020 to explore the relationships among corporate social responsibility, financial constraints, and financial performance. In addition, we discuss five factors affecting financial constraints. We also analyze the types of enterprises that can improve their financial performance by implementing corporate social responsibility keeping in mind the factors that lead to a high degree of financial constraint. The results indicate that: 1. The degree of financial constraints has a negative and significant impact on financial performance; 2. There is a reverse relationship between the degree of financial constraints and the effectiveness of corporate social responsibility measures; 3. Enterprises with high financial constraints (due to lower financial slack and revenue growth rates) can significantly improve their financial performance through the implementation of effective corporate social responsibility programs. 4. Enterprises with high financial constraints, caused by financial slack and revenue growth rate, can significantly improve their financial performance by implementing corporate social responsibility programs.


2021 ◽  
Vol 275 ◽  
pp. 02004
Author(s):  
Hongmei Sun ◽  
Shuqi Yao ◽  
Mucun Zhai

The low-carbon development of enterprises is an important breakthrough in Chinese economic transformation and the optimization and upgrading of the industrial structure. Based on a sample of Chinese listed companies involved in the low-carbon industry from 2010 to 2018, this paper empirically analyzes the correlation between the low carbon behavior, economic transformation and financial performance of listed companies. The results show that a company’s carbon intensity and financial performance are negatively related, and this relation is more significant when the financial performance is measured using the ROA (return on asset) of listed companies. The level of economic transformation in places where enterprises are located can significantly strengthen the positive relationship between enterprise low-carbon behavior and financial performance, including in central and western areas, where positive relationships are strengthened, and areas with heavy polluting industries, where positive relationships are weakened. Therefore, it is necessary to strengthen carbon emission supervision for non-heavy polluting industries and enterprises in the central and western regions.


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