Social Responsibility Information Disclosure Influence On The Efficiency Of Investment Research

China is in a critical period of economic transformation, social justice, the environment and natural resources, energy and other issues more prominent. "Harmonious society" requires companies throughout the social and ecological environment as one of the members,stakeholders should work together with other stakeholders, share the responsibility to solve social problems. Because pharmaceutical companies and people’s lives, are inseparable, it has to fulfill the social responsibility of completion will always affect people’s happy life, a happy life and healthy life, including security and administration, especially in recent years "medicine harm " incidents continue to lead the masses to further urged pharmaceutical companies to fully disclose its operations related information. Similarly, with the increasing transparency in the public media, enterprises should fully understand the importance of strengthening communication with the masses of society, to re-build their own investment integrity of the bridge and between the various stakeholders. Investment is a series of economic activities of enterprises on the basis of the values ?of sustainable development conducted on the investment activities is the central economic activities, operational investment activities relating to whether the value of the company to achieve high efficiency,corporate social responsibility is to convey information indicator. Thus, in evaluating investment activities to be added to the value of corporate social responsibility system.Firstly, the principal-agent theory, the theoretical basis of the theory of asymmetric information on the method of analysis of the qualitative theory of social responsibility information disclosure influence on the efficiency of investment, and from three different angles specifying both the theoretical relevance, to propose hypotheses basis. Secondly, based on the particularity of the industry’s social responsibility, selected China’s Shanghai and Shenzhen 2012- the pharmaceutical industry research company in 2014, drawing Richardson investment econometric model, the use of its new investment levels as the dependent variable,using SPSS software demonstration analysis, and the actual level of investment companies for comparison, the measure of inefficient investment behavior, the lack of investment and the whole sample was divided into two parts, excessive investment, research and other social responsibility information disclosure quality variables from different properties in different samples running role.The results show that the influence of the pharmaceutical industry social responsibilityinformation disclosure on the investment efficiency is significantly positive correlation; the pharmaceutical industry and corporate social responsibility information disclosure underinvestment negative correlation; the pharmaceutical industry social responsibility information disclosure and corporate investment over a significant negative correlation. And the relationship between the pharmaceutical industry and social responsibility information disclosure between investment efficiency in the control of the company size, ownership concentration, asset structure, after sales management capability still exists, that is confirmed by a new social responsibility information disclosure influence investment efficiency factor.In this paper, study results, presented some recommendations: to promote China’s pharmaceutical enterprises have continuously improve the social responsibility information disclosure of dynamics and gradually incorporated into the third-party assurance report, and accelerate the construction of social responsibility information disclosure for China’s pharmaceutical industry index system to promote the pharmaceutical industry in a positive and healthy direction of rapid development.