Research On The Optimization Of Corporate Social Responsibility Information Disclosure In China's Steel Industry

In recent years,China's market economy has flourished,and companies in various industries have created enormous economic wealth for society.At the same time,they have also caused more social problems,such as the destruction of the ecological environment and the insufficiency of the rights of employees and consumers.The problem of intensifying contradictions between social enterprises has occurred from time to time.Most companies are pursuing the maximization of their profits,while ignoring the social responsibilities that companies should have performed.MAS Steel Corporation has an extremely important position and influence in China's steel industry enterprises.It is an extremely large-scale iron and steel conglomerate in China and was listed overseas and domestically in 1993 and 1994 respectively.In 2017,MAS Steel's total assets were 91.8 billion yuan,with an operating income of 79.7 billion yuan and a total profit of 5.6 billion yuan.Therefore,by studying the disclosure of social responsibility information of MAS Steel Co.,Ltd.,it has come up with suggestions for improving the disclosure of social responsibility information in the iron and steel industry,and has a greater role in promoting the social responsibility of the steel industry in China.This paper first introduces the concept of corporate social responsibility information and corporate social responsibility information disclosure,and analyzes related theoretical foundations such as stakeholder theory,information asymmetry theory and sustainable development theory.Secondly,based on an analysis of the 15 corporate social responsibility reports released by the iron and steel industry in 2016,combined with the company's official website,annual financial reports,and various literature analyses,it is found that the exposure of China's steel industry to social responsibility information disclosure is late,and the form of independent social responsibility report The adoption rate is not high,disclosure is not complete and lacks independence.Then,taking MAS Steel Corporation as an example,this article analyzes the performance of its social responsibilities from 2015 to 2017,and systematically studies the three-year corporate social responsibility report and annual financial report of MAS Steel Co.,Ltd.for the society of MAS Steel Corporation.A detailed analysis of the actual performance of the responsibilities has been made and the problems in the disclosure of MAS Steel's social responsibility information have been pointed out.Finally,this paper puts forward three suggestions for improving the status quo and problems of the disclosure of the social responsibility information of MAS Steel Co.,Ltd.: Raising the company's own social responsibility awareness,improving the social responsibility information supervision and inspection mechanism,and establishing a sound social responsibility information disclosure system.It is hoped that this study can provide reference for China's steel industry companies to disclose their social responsibility information so that they can have a reference in fulfilling their social responsibilities and help enterprises in the steel industry achieve their sustainable development goals.