RETRACTED: Research on the impact of social responsibility of state-owned enterprises and private enterprises on financial performance (Retracted Article)

For the study of corporate social responsibility, the most fundamental problem is the relationship between Social Responsibility and Financial Performance on enterprises, which is related to whether the enterprise should bear social responsibility directly. For a long time, state-owned enterprises of China as the backbone of social responsibility, to shoulder a large number of policy burden. When corporates' social responsibility rises to the height of the national strategic development level and becomes the focus of government attention, what is the impact of state-owned enterprise social responsibility on financial performance? Will the impact of social responsibility on financial performance in our country be different between private enterprises and state-owned enterprises? This article attempts to study these issues. The study shows that the social responsibility of Chinese enterprises has reduced its financial performance significantly. The more concerned on different aspects of social responsibility, the lower the financial performance. Secondly, compared with the private enterprises, the social responsibility of the state-owned enterprises will reduce its Financial performance, and especially in the areas where government intervention more.