An empirical study on the impact of corporate social responsibility on financial performance in financial enterprises

Abstract

As society advances, corporate social responsibility (CSR) has garnered substantial scholarly attention. This article investigates the impact of financial CSR on financial performance, employing empirical analysis of panel data from 71 publicly listed financial firms spanning 2013 to 2020. Findings indicate that CSR practices contribute significantly to enhanced financial performance, with corporate reputation acting as a mediating factor. Additionally, the impact varies by economic level and enterprise development stage. Specifically, CSR has a strong positive effect in high-economic regions and during the growth and maturity stages while the relationship is less evident in low-economic areas and during decline. These insights offer valuable implications for financial management practices and establish a theoretical foundation for policymakers to promote the strategic implementation of CSR