An Analysis On The Motivation Of Corporate Social Responsibility Information Disclosure For Publicly Listed Enterprises

With economic development in the modern society,environmental and social problems have increasingly drawn concerns,people's sense of responsibility and environmental awareness,as well as the need for economic transformation and sustainable development,all demand the research and practice of corporate social responsibility and relevant information disclosure.As the summary and explicit reflection for the practice of corporate social responsibility,corporate social responsibility information is highly essential for researchers to understand the behaviours of corporates.This paper collects data from 579 publicly listed corporates for the CSR information disclosure scores in Rankins 2013-2017.Applying the theory of organization isomorphism,according to its three influence paths?coercive isomorphism,normative isomorphism and mimetic isomorphism,this paper studies the motivation of corporate social responsibility information disclosure from three aspects:law,imitation behaviors and media reports.This paper finds that,on the whole,the influence mechanism of normative isomorphism and mimetic isomorphism plays a leading role in China's current corporate information disclosure,which is reflected in the fact that media reports and industry average score level have a significant and positive effect on the social responsibility information disclosure level;laws and regulations have no significant impact on the information disclosure.This paper further finds that the industry average score level has a significant and positive effect on all three regions;media reports have a significant positive impact on the eastern and central regions,but not in the western region;law still does not show a significant impact.In addition,this paper analyzes the adjustment effect of enterprise scale.It turns out that law has a positive impact on the level of social responsibility information disclosure of larger enterprises;For smaller companies,law has a negative impact.At last,this paper uses the dynamic panel GMM estimation model to test the results of the previous regression,and it is found that the first-order lag term of the social responsibility score has a significant positive effect on the explanatory variable.