Empirical Research on the Relationship between Social Responsibility and Enterprise Performance of New Energy Automobile Enterprises in China

In China, new energy auto companies are important strategic emerging industries that promote the sustainable development of Chinese economy. They are also the important breakthrough for the auto industry to cope with energy security, climate change, environmental protection and structural upgrading. Therefore, we intend to objectively analyse the relationship between corporate social responsibility and corporate performance in different periods of the enterprise. Based on the characteristics of the new energy automobile industry and related stakeholders, the social responsibility of new energy vehicle companies refers to the responsibility of all enterprises engaged in the manufacture and production of new energy vehicles to all stakeholders. We select 103 observations from 2013 to 2017, construct a panel data model between social responsibility and financial performance and market performance, and use the Stata software to perform Pearson correlation on each variable of 103 sample data from 2013 to 2017. The irrelevant estimation method is used to estimate. The regression equation results show that the current corporate social responsibility has a positive impact on the later enterprise performance. And the current financial performance has a positive impact on the later corporate social responsibility. We find that there is a synergistic relationship between social responsibility performance and corporate performance of new energy vehicle companies in China.