An Analysis On The Relationship Between Enterprise Characteristics And The Social Responsibility Information Disclosure

With the development of socialist market economy, corporate social responsibility consciousness is strengthened gradually. Especially the frequent food safety issues, making the concept of corporate social responsibility emerged and become more and more public and attract government’s attention, so the information disclosure of CSR is representing the general trend. The issue of corporate social responsibility information disclosure research is increasingly rising, and have made some achievements, but it is not mature comparing with abroad research. It is still at the primary stage, it is not consistent with the economic development and social needs. The research object is mainly about Corporation listed on main board, but for the study on social responsibility information disclosure of the GEM (growth enterprise market) Listed Corporation is relatively less. Based on this, this paper choose social responsibility reports published by the GEM Listed Corporation founded in2009to the end of2012since its establishment for four years as the research object, to study the correlation between the reported information disclosure and corporate characteristics. A total of33companies in the GEM Listed Corporation have published a total of73social responsibility report within four years since the GEM Listed Corporation was introduced for the first time in the Shenzhen stock exchange from2009October to December31,2013. At present, China has not issued a special document to guide the growth enterprise market of listing Corporation, in order to stipulate the social responsibility information disclosure standards of the GEM Listed Corporation. Refer to other plate listing corporation’s social responsibility information disclosure model, so there are many deficiencies in the process.Firstly, this paper describes the contents and methods of the social responsibility information disclosure of listing Corporation by normative research method, and sum up the past related research conclusion on corporate characteristics and social responsibility information disclosure, and outline the related theories about corporate social responsibility information disclosure. The existing problems in information disclosure, disclosure level measurement methods and indicators of corporate social responsibility system is the most worthy of attention. Based on previous research, make the stakeholder theory, principal agent theory and signaling theory as the theoretical basis for this study. The paper selects enterprise profitability, firm scale, financial risk and enterprise growth as enterprise features. There is no a unified standard corporation social responsibility information evaluation index system formed in companies listed on gem. This paper developed a corporation social responsibility information evaluation index system suitable for the companies listed on gem referring to other research evaluation system and combing with the characteristics of companies listed on gem, using the index method in social responsibility information disclosure level measurement method to score the social responsibility report. From the method of normative research combing with empirical research, and based on the existing research results at home and abroad, this paper puts forward the hypothesis on the relationship between the four variables about the enterprise features and the social responsibility information disclosure, building model and making empirical analysis. Make a descriptive statistics for the full sample and make a descriptive analysis on the published social responsibility report according to the industry classification. Analysis results show that the whole corporation social responsibility information disclosure of companies listed on gem degree is not high, and there are differences in the social responsibility information disclosure importance degree between each industry. At the same time also make a regression analysis on the correlation between degree of degree of enterprise’s characteristic variable and social responsibility information disclosure, draws the following conclusion, namely the correlation between the level of profitability and social responsibility information disclosure is not significant, the scale of the enterprise and social responsibility information disclosure level significantly positive correlation, the financial risks of enterprise and social responsibility information disclosure level significantly negative correlation, the growth of enterprises and social responsibility information disclosure level is significantly negative correlation.The corporation social responsibility information disclosure level of companies listed on gem is not high, given the conclusion, the article finally puts forward relevant policy suggestions, we should improve the GEM Listing Corporation’s internal construction, optimize the system environment of companies listed on gem, strengthen market supervision, the most important thing is to develop a set of guidelines for preparation of listing corporation gem disclosure of social responsibility report, which will provide a standard for the growth enterprise market of listing Corporation disclosure report reference, to improve the accuracy of the report. The deficiency that make the companies listed on gem as the research sample is the sample size is small, in the future will increase the sample size, and establish a more standard and perfect index system specifically for the companies listed on gem measuring the social responsibility report. This paper only selected four variables of enterprise characteristics as the object of study, future studies will also expand the influence factors, so as to improve the results.