Study On The Impact Of Corporate Social Responsibility Report Verification On Enterprise Value

In recent years,with the sense of social responsibility of enterprises' and the public's increased year by year,corporate social responsibility information disclosure in China has been growing rapidly.From 2009 to 2013,China' s Shanghai and Shenzhen listed companies issued a total of 2872 copies of corporate social responsibility report.However,the increasing number of social responsibility report does not meet the public deeper demand for corporate social responsibility information,they pay more attention to the quality and credibility of the information disclosed in the report,prompting more and more companies begin to hire an independent third party to verify theirs social responsibility reports.However,The cost of the independent third party verification is higher and the additional disclosures cost of corporate voluntary disclosure attestation report will increase.So most companies are reluctant to conduct an independent third-party verification of social responsibility report,leading to the quality and credibility of the reports information in doubt.Therefore this article start a systematic study of the impact of corporate social responsibility report verificatin on enterprise value from the perspective of empirical analysis.The purpose is to provide theoretical for conducting an verification of social responsibility report and promote the development of forensic activities of corporate social responsibility report.Based on the review of relevant literature at home and abroad,and according to the social responsibility report and appraisal theory and enterprise value theory,this article selectes independent social responsibility reports of A-share listed companies in Shanghai and Shenzhen as the samples from 2010 to 2013,and empirically analyzes the impact of corporate social responsibility report verificatin on enterprise value.First,it redefines the concept of corporate social responsibility report,corporate social responsibility report verification and enterprise value,and proposes the hypothesis of this paper based on the analysis of relevant theory.Secondly,it uses the descriptive analysis to analyze the status quo of China' s corporate social responsibility report disclosure and verification.The analysis results shows that the number of corporate social responsibility reports and the forensic reports increases year by year,but the proportion of the disclosure and verification is still relatively low On the whole.Thus CSR-related information disclosure efforts need to be strengthened.Again,it issues the social responsibility reports and verification reports of A-share listed companies of the Shanghai Stock Exchange as samples from 2010 to 2012,and uses multiple linear regression analysis to analyze the impact of corporate social responsibility report verificatin on enterprise value.The regression result shows that corporate social responsibility report assurance and enterprise value are significant positive correlation at the 5%level.That is the assurance of corporate social responsibility report can increase corporate value.Finally,based on the results of empirical analysis,and combined with the current situation of China' s corporate social responsibility report disclosure and verification,it puts forward some countermeasures and suggestions to standardize and improve our corporate social responsibility report forensic.