Research On The Impact Of Media Attention And Equity Nature On Social Responsibility Information Disclosure Quality

For the last few years,the phenomenon of lack of social responsibility constantly appears.It stimulates the social needs of corporate social responsibility information.At the same time,government,securities market and social institutions are also constantly promoting enterprises to provide more standardized,higher quality of social responsibility information.As well,social responsibility information disclosure has become the focus of academic research.High quality social responsibility information can reduce the unfair situation,defend the interests of external stakeholders and improve capital market.At present,the research on social responsibility information disclosure by Chinese scholars mainly focuses on the characteristics of the company and the internal governance structure.Only few scholars turn the research perspective to the external governance of media to study the relationship between media and social responsibility information disclosure.As the"fourth rights" outside the law,the media has the function of information intermediary and supervision.Some scholars have found that the media has better effect of external governance.Media through its concern to the enterprise play a governance role,regulating the behavior of enterprises.Media through the transfer of information on the securities market information disclosure mechanism play a complementary role.Media reports can optimize the government's regulatory environment.At present,the study of corporate social responsibility information disclosure from the perspective of media attention is relatively small.How does the media concern corporate social responsibility information disclosure quality?Especially in the context of China's"two ownership structure",is there any difference in the impact of media attention on the quality of information disclosure of social responsibility?Based on the background of social responsibility system of Listed Companies in China,combining internal and external corporate governance factors,this dissertation studies the effect of ownership nature and media attention on the quality of social responsibility information disclosure and analyses whether there are differences between the impact of media attention on the quality of social responsibility information disclosure under different ownership nature and different disclosure intentions.This dissertation consists of five chapters.The first chapter is the preface,expounding the research background,the meaning of this study and reviewing the domestic and foreign relevant literature on social responsibility information disclosure and media attention,introducing the characteristics and innovation points of research ideas and methods.The second chapter includes related concepts and theoretical foundation,defining the related concepts of the research object of this dissertation,and expounding the information asymmetry,signal transmission,stakeholder and legitimacy theory.The third chapter consists of theoretical analysis and hypothesis.This chapter describes Chinese social responsibility information disclosure status quo and analyzes the existing problems.Finally,it combs the nature of ownership and the role of media attention to the quality of information disclosure of social responsibility and on this basis put forward the research hypothesis.The fourth chapter is the empirical study.This dissertation selects the data of A share listed corporation from 2009-2014 in Shanghai and Shenzhen stock exchange markets as samples and construct multiple regression model to examine the nature of equity and the impact of media attention on the quality of social responsibility information disclosure.Moreover,This dissertation research the impact of media attention on the quality of social responsibility information disclosure under different ownership nature and disclosure intention.The fifth chapter is the conclusions and policy recommendations.The conclusions show that:(1)Media attention has a significant role in promoting the quality of social responsibility information disclosure.Media attention can improve the quality of information disclosure of social responsibility.(2)Compared with non-state-owned listed companies,the quality of social responsibility information disclosed by state-owned listed companies is higher.(3)Furthermore,compared with non-state-owned enterprises,the positive effect of the media attention on the quality of social responsibility information disclosed by the state owned listed companies has been suppressed.(4)Based on the different disclosure intention,The effect of media attention on the quality of mandatory social responsibility information disclosure is weaker than the quality of responsibility information disclosure.