Board Heterogeneity,Media Attention And Corporate Social Responsibility Information Disclosure

In the past 40 years of reform and opening up,China's economy has achieved tremendous development.However,behind the economic development,more problems can be seen,such as product quality issues,environmental protection issues,and social assistance,which attract people's attention.These things are also the concentrated expression of corporate social responsibility,and this issue has always affected the strategic development plan of the enterprise.The level of social responsibility information disclosure is not only affected by internal factors,but also by external factors.Internally,the board of directors is at the core of corporate governance.It has the decision-making power to determine how the company's financial resources are used based on its own responsibilities.It also controls the strategic direction of the company.Its characteristics will have a certain impact on corporate social responsibility,such as the board of directors.The differences in characteristics such as age,gender,education,and tenure of members will affect the decision-making choices of the team,which will have an impact on corporate social responsibility and affect the information disclosure in this area,also enhance the public and media understanding of the enterprise.From the perspective of external factors,the media communicates with other stakeholders through the transmission of information,so that the public,government,suppliers,consumers and other direct or potential stakeholders can better understand the enterprise.The understanding is not only an intuitive feeling,but also a change of emotion in many cases.It connects the stakeholders and plays a role as a bridge.This paper regards the heterogeneity of the board of directors and media attention as the disclosure of social responsibility information.Influencing factors and analyzing their possible effects,so that enterprises and media can jointly promote the continuous improvement of social responsibility information disclosure and promote the progress of enterprises.The research ideas of this paper mainly study the relationship between the heterogeneity of the board of directors(including gender heterogeneity,age heterogeneity,education heterogeneity and term heterogeneity)and the disclosure of corporate social responsibility information.On this basis,consider the influence of media attention and further analysis.First of all,through the collection and collation of domestic and foreign literature on the characteristics of the board of directors,the heterogeneity of the board of directors,and the disclosure of corporate social responsibility information,the existing research deficiencies and the research entry points of this paper are obtained.Secondly,based on relevant theories(including the high ladder team theory,social identity theory,similar attraction theory,information and decision theory,stakeholder theory,etc.,)put forward the research hypothesis of this paper,and establish a research model,using Herfindahl coefficient method for non-continuous gender and education heterogeneity data.The Difference coefficient method calculates the continuous term and age heterogeneity,and then conducts empirical research through regression analysis,and finally draws a conclusion.This paper takes the enterprises in 2013-2017 as a sample.The study concluded that the greater the gender heterogeneity and age heterogeneity of the board,the higher the level of corporate social responsibility information disclosure.In line with the Information decision theory;the greater the heterogeneity of academic qualifications and the heterogeneity of tenure,the lower the level of corporate social responsibility information disclosure,in line with Social identity theory and Similar attraction theory;in the case of high media attention,gender heterogeneity and age heterogeneity has a stronger impact on the level of social responsibility information disclosure,while the negative impact of academic heterogeneity and term heterogeneity will be alleviated,so media attention is necessary in corporate social responsibility.Therefore,enterprises should jointly promote the implementation of social responsibility and information disclosure from the internal board of directors and external media.The main innovations of this paper are as follows: previous studies have mostly focused on the structural characteristics of the board of directors and corporate social responsibility information disclosure,and the articles on the characteristics of the board of directors have been studied from the perspective of homogeneity.Therefore,this paper does not focus on the structural characteristics of the board of directors,but on the characteristics of the board and its Heterogeneity,analyze the relationship between the four heterogeneity of the board of directors and the disclosure of corporate social responsibility information,and use media attention as a moderator to study from both inside and outside.