An Empirical Study On Effecting Factors Of Corporate Social Responsibility Information Disclosure

Corporate Social Responsibility disclosure is becoming more common practiceamongst companies in recent years, and companies are in the process of developingtheir own corporate social responsibility as a strategic part of its development.Companies are in the process of developing their own corporate social responsibility asa strategic part of its development, and its disclosure practices are becoming more andmore popular. In China, most of researches about corporate social responsibility arebeginning in2008. But the research on corporate social responsibility informationdisclosure is not unified, such as the content, the influence factors, supervisionmechanism and so on. Therefore, the study of the influencing factors of corporate socialresponsibility information disclosure has a certain value.This paper collected131pharmaceutical manufacturing enterprises listed in theShanghai Stock Exchange and Shenzhen Stock Exchange as the samples to study theeffect of factors on the corporate social information disclosure. Eight researchhypotheses are put forward on factors including firm size, financial performance,financial leverage, board independence, media exposure, ownership concentration andaccreditation agency reputation. The level of corporate social information disclosure iscalculated with the index system, and the effect of variables is verified with the multipleregression analysis SPSS18.0.The research results show that for pharmaceutical manufacturing listed companies,firm size partly influence social responsibility information disclosure, financialperformance has a positive influence, financial leverage has a negative influence, thehigher media exposure and enterprise value the higher disclosure, while boardindependence, ownership concentration and accreditation agency reputation have norelationship with social responsibility information disclosure.