A Research On Corporate Social Responsibility Information Disclosure

The main purpose of this paper is to provide theoretic and empirical study on the corporate social responsibility information disclosure in China. Four questions are studied in theoretic analysis: international experience of corporate social responsibility information disclosure, definition of contents, measure methods and status quo of Chinese corporate social responsibility information disclosure. Two questions are studied in empirical study: influencing factors of corporate social responsibility information disclosure, relevance of corporate social responsibility information disclosure and corporate value.Major results of this paper show that: (1) when researching on corporate social responsibility information disclosure, some researchers usually did not identify connotation and extension of corporate social responsibility information and they referred to other researchers'content definition of corporate social responsibility information. The method may induce content indifference of corporate social responsibility information. By identifying connotation and extension of corporate social responsibility information, I think contents of corporate social responsibility information disclosure in China contain six types: environment issues, employee issues, community issue, general society issues, consumer issues, other issues. There are seventeen detailed types contained in those six types. Index method is the best method to measure corporate social responsibility information disclosure. (2)By using Pearson correlation analysis and multi-variable regression, I find that the company's size, debt to asset ratio and highly polluted industry category appeared to significantly affect the corporate social responsibility information disclosure positively. ST type of company, return of net asset was negatively related to the corporate social responsibility information disclosure significantly. (3) By using two-stage OLS model, I find the negative correlation between current corporate value and current corporate social responsibility information disclosure. The result supports my hypothesis. (4) On the basis of theoretical analysis and empirical result, I suggest how to improve corporate social responsibility information disclosure system in China.The contributions of this paper contain: (1) there are two methods can be used to measure corporate social responsibility information disclosure which are content analysis method and index method. By analyzing strongpoint and shortcomings of two measure methods of corporate social responsibility information disclosure, I suggest that index method is the best method to measure corporate social responsibility information disclosure. (2)This paper empirically tests influencing factors of corporate social responsibility information disclosure in China. (3) Almost all of the researchers ignored endogenous variable when he or she researched the relationship between corporate social responsibility information disclosure and corporate performance. By using two-stage OLS model, I solve the question. I empirically test the relationship between current corporate value and current corporate social responsibility information disclosure in China and find the negative correlation between them.