Female Directors,Social Responsibility Information Disclosure And Corporate Performance

In recent years,environmental protection,food safety,employee strikes,and other social responsibility failures have frequently occurred,which has aroused public concern for corporate social responsibility.The disclosure of corporate social responsibility information is an effective way for relevant stakeholders to understand the fulfillment of corporate social responsibility.It is also the starting point for the public to quickly understand the enterprise and effectively supervise the enterprise.Therefore,as the social environment becomes more and more complex,public demand for corporate social responsibility information is also increasing.In order to meet the needs of the public and achieve sustainable social development,the regulatory authorities put forward requirements for disclosure of corporate social responsibility information in 2006 and regulate the disclosure of corporate social responsibility information.Under the spur of a series of policies,the effect has been significant.The number of entities that disclose social responsibility reports has been increasing year by year,from 371 in 2008 to 747 in 2016.However,according to statistical analysis,the overall level of disclosure of social responsibility information for listed companies in China is not optimistic,and the quality of corporate social responsibility information disclosure is also uneven.The reason for this is that the performance of corporate social responsibility is largely constrained by the will of the company's top leaders,and the board of directors is an important part of the company's top management.It influences the company's daily behavior through participation in the board's decision-making discussions,which then affects the awareness of disclosure of social responsibility information.It is worth noting that female directors have emerged strongly in society and their participation in the company's business management has gradually been accepted.The gender characteristics of the board of directors may be an important factor affecting the disclosure of corporate social responsibility information.Therefore,in-depth study of the personality characteristics of women directors has become the focus of academic research.Based on this,from the perspective of female directors,this paper discusses the impact of female directors(ratio,age,and academic qualifications)on the disclosure of social responsibility information and corporate performance,and what level of high level of social responsibility information disclosure will bring results to companies and women.The role of directors(ratio,age,education)in the impact of disclosure of social responsibility information and corporate financial performance.This article reviews domestic and foreign research from the perspectives of female directors(ratio of directors,age,education),social responsibility information disclosure,corporate performance,etc.,and reviews domestic and foreign relevant women directors,social responsibilitis and corporate performance,and related research results.Taking the listed companies participating in the Runling Global Rating from 2012 to 2016 as empirical data to conduct empirical research,the mechanism of the role of female directors(ratio,age,and academic qualifications)in the disclosure of corporate social responsibility information and company performance was studied,as well as the disclosure of social responsibility information.The impact of corporate performance,in addition,to further explore the female directors in the transmission of corporate social responsibility information and corporate performance of the transmission mechanism.The study found that:(1)The ratio of female directors,the age of female directors,the academic qualifications of female directors and the disclosure of social responsibility information and corporate performance have a significant positive relationship;(2)The proportion of female directors in the board of directors,the average level of education,and the average age have strengthened the positive effects of disclosure of social responsibility information and company performance,but the average age of female directors has not had a significant effect on the relationship between disclosure of social responsibility information and company performance.Based on the conclusion of empirical analysis,relevant policies and recommendations are put forward from the perspective of corporate governance structure and corporate social responsibility fulfillment,so as to promote open and transparent capital market information.