The Environmental Performance, Corporate Social Responsibility, and Food Safety of Food Companies from the Perspective of Green Finance

Autori:

Xiang DENG, Junyu LU

Cod: ISSN: 1583-3410 (print), ISSN: 1584-5397 (electronic)
Dimensiuni: pp. 178-200

How to cite this article:

Deng, X., Lu, J. (2017). The Environmental Performance, Corporate Social Responsibility, and Food Safety of Food Companies from the Perspective of Green Finance. Revista de Cercetare si Interventie Sociala, 58, 178-200.

Abstract:

In recent years, there have been frequent instances of environmental pollution in the Chinese food industry, and food safety incidents have aroused widespread concern. However, few empirical studies on the relationship among corporate environmental performance, corporate social responsibility, and food safety have been conducted. There is also a lack of targeted and effective interventions and solutions. To develop ways to resolve food safety issues, using the data from 77 listed food firms in China’s Shanghai and Shenzhen A-share exchange market during 2006 to 2016, the relationships among the environmental performance of food firms, corporate social responsibility, and food safety were empirically analyzed, and the ameliorating effects of green finance acting as the intervention variable on corporate social responsibility and food safety for food firms were explored. Results show that the better the environmental performance of the food firm, the stronger the corporate social responsibility; furthermore, the stronger the corporate social responsibility and the better the environmental performance of the given firm, the less food safety incidents occur. Additionally, there is a correlation between the environmental performance of food firms and food safety. This indicates that strengthening supervision of the environmental performance of food firms may reduce the frequency of food safety issues. The implementation of green finance policy can also directly enhance the food safety by improving the environmental performance of food firms, and directly improve the food safety situation by raising corporate social responsibility. This study provides a significantly reference for decision-making with respect to strengthening internal controls on food safety in the food industry and to developing regulatory methods by food regulating authorities.