Study On Correlation Of Enterprise Social Responsibility Accounting Information Disclosure With Enterprise Market Value

Since the reform and opening up, in China rapid economic growth has alsobrought a series of social problems, such as serious environmental pollution, depletionof resources, employees lack of safety in production, as well as consumers rights andinterests could not been guaranteed. Therefore, the implementation of enterprisesocial responsibility has drawn more and more attention from social public; this willrequire enterprises to disclose relevant information. At present, in China enterprisesocial responsibility accounting information disclosure is still in the initial stage.Although the domestic scholars have carried on theoretical and empirical research toenterprise social responsibility accounting information disclosure, there are fewempirical studies on enterprise social responsibility accounting information disclosurewith enterprise market value, however, the enterprise market value is importantindicator to enterprise stakeholders, whether the information disclosed is valuable?how does the capital market react to this information? what influence could thisdisclosure of information give to the value of the company?This article is based on answering these questions. First, it reviews thedocuments home and abroad, and then it introduces some relevant theories andexplores the relations between this disclosure of information and market value of thecompany theoretically; By analyzing the annual report of2010in enlisted companiesof two-oriented society, this article extracts data related to accounting informationconcerning social responsibilities. By construct demonstration model using this data,finally, this article conducts an demonstrative analysis through the method ofcorrelation analysis and multi factor regression. The demonstration research finds out that the total contribution rate of theenlisted company in two-oriented society is in positive correlation to the market valueof the enterprises. By dividing the total social contribution rate into six contributionindex of the interest related party, the article finds out that the enlisted companycontribution rate of to employees, shareholders, creditors, government is to insignificant positive correlation to the market value of the enterprises, the contributionrate of the supplier shows no obvious correlation to the contribution rate of socialwelfare.