An Empirical Study On Determinants Of Social Responsibility Accounting Information Disclosure Of Food Industry In China

Along with the rapid development of global economy and continuous progressof commercial civilization, sustainable development has become the idea ofdevelopment in the current era. The target of conducting business is no longermerely the pursuit of economic efficiency.At the same time, considering social andenvironmental factors such as product safety and environmental pollution. Fulfillingsocial responsibility actively is helpful to social development and long-termdevelopment,which is the inevitable requirement of sustainable development.However, because of recent food safety incidents such as “melamine resin glue”,“lean meat powder of Shuanghui”, and “swill-cooked dirty oil”, social responsibilityinformation disclosure of food industry has become an important way by which thepublic know its product safety. Shareholders, creditors, government, and the public,whose desire of requesting food industry to disclose social responsibilityinformation gets stronger. Nonetheless, in the view of imperfect implementation ofsocial responsibility in China and not formed mandatory disclosure system, thefulfillment of social responsibility in the food industry mismatches the expectationof the public.Firstly, the author reviews the research results of domestic and internationalinformation disclosure of corporate social responsibility accounting. Secondly, basedon the relevant interest theory, the theory of the triple bottom line, signaling theory,asymmetric information theory, agency theory, and accounting theory, it analyzes theimpact factors of information disclosure of social responsibility accounting. Thirdly,selecting listed companies in the food industry in2010and2011as the researchobject, and making assumptions, meanwhile, introducing social responsibilityaccounting index SDI of the food industry, and combining the characteristics ofChina’s capital market and food industry, then defining seven independent variablesfrom the perspective of firm characteristics, governance structure, and the level of regional development where enterprises locate, the thesis gets multiple regressionmodel about the impact factors of the social responsibility accounting informationdisclosure of listed companies in China. After doing descriptive statistic analysis onthe social responsibility accounting information disclosure of listed companies ofChina’s food industry in2010and2011through SPSS19.0, doing multipleregression analysis with the model, and doing empirical test on the impact factors ofsocial responsibility accounting information disclosure of the food industry, thethesis obtains following conclusions:1)The level of social responsibility accountinginformation disclosure of listed companies in the food industry in2010and2011islow, and2011’s is higher than2010’s. The listed companies tend to disclose thesocial responsibility information which is not conducive to companies’image noneor little, and disclose the social responsibility information that is helpful to improvecompanies’image.2) The research of the data in2010and2011shows that the socialresponsibility information disclosure has positive relationship with firm size,corporate profits, and regional GDP, meanwhile, financial leverage has negativerelationship with the social responsibility information disclosure, otherwise,chairman and manager roll into one has no significant affection. The proportion ofindependent directors and the nature of the controlling shareholders in2010have nosignificant affection, but2011’s has positive relationship with the socialresponsibility accounting information disclosure. Finally,the author proposecorresponding policy recommendations and prospect further based on empiricalresults.