Corporate Social Responsibility Disclosures And Corporate Characteristics

This paper took China's transportation listed companies for study, observed the relationship of the disclosure quality of Corporate Social Responsibility Information and Corporate Characteristics. With Descriptive analysis and multiple linear regression analysis of the sample enterprises in 2006-2009, it comes to the conclusion:(1) in the view of time distribution, the quality of China's transportation listed companies significantly improved after the SASAC issued "guidance of State-owned enterprises' social responsibility" in early 2008, and the enterprise number, which report the independent social responsibility, has increased significantly. (2) in the view of equity characteristics, the empirical analysis found that from 2008 to 2009 the state-owned proportion and the corporate social responsibility disclosure indices were positively correlated, while the Ownership Concentration demonstrates insignificant. (3) in the view of debt capacity, financial leverage and liquidity show insignificant, it means enterprises do not consider the account business risk and agency costs of debt when to fulfill their responsibilities. (4) the listed companies with larger firm size and stronger profitability, have tendency to disclose more information on corporate social responsibility. (5) in the view of geographical distribution, businesses in Shanghai, and Shenzhen are not significantly better than enterprise in other region, this may be due to other areas' companies' corporate social responsibility information disclosure has greatly improved in recent years.