Research On The Relationgship Between The Media Attention On Corporate Social Responsibility Informationg Disclosure And Financial Performance

CSR issues have been of great importance to scholars and researchers in the process of rapid growth in the GDP, along with pollution incidents, food safety issues, financial fraud issues, and so a series of social responsibility, business and the community are gradually aware of the importance of social responsibility to fulfill. China in September 2006 issued by the Shenzhen Stock Exchange Listed Companies’ social responsibility guidelines,and in 2008 the SASAC issued Guidance on the central corporate social responsibility to promote the rapid development of enterprise social responsibility. Under this background, most scholars study the relationship between corporate social responsibility and corporate financial performance as the research focus, although so far there has not been a uniform conclusion, but the basic theory of each scholar’s research is in common.With further research, scholars have shifted to focus media attention on. Spread— ing the message of the power of the media has not be ignored, newspapers, television, Internet and other media play an important role in guiding public opinion and information intermediaries. If companies can actively fulfill their social responsibilities that will be reported by the media, and increasing the visibility and exposure; In constract, if the companies have been some negative incidents, the media will be in the first time to report, whether companies have the courage to bear this time, and whether the companies are able to make timely and effective improvement measures have once again become the focus of public attention. Many scholars have studied the role of the media attention has the function of corporate governance, some scholars believe that the media play a intermediary role between social responsibility and corporate financial performance which is always a correlation between the mediating effect.Paper selected the report of RANKINS CSR RATINGS which disclosure the score of social responsibility in 2012 as the variable that measures the disclosure of social responsibility information. Firstly this paper has confirmed positive corporate social responsibility to help improve financial performance, and then from the media point of view, the more confirmed CSR information of high quality, the more media attention; then follow the previous empirical methods to verify the media attention has partially mediated the effect CSRD positive impact on financial performance; the last article on this basis, confirmed the negative attention that contain complete mediating effect to have a stronger mediating effect of media coverage; and without the negative media coverage of the agency concerned has no effect. And this conclusion for a certain amount of explanation, according to the conclusions made certain recommendations.