Media Attention,Internal Control And Corporate Social Responsibility

The 19 th National Congress of the Communist Party of China has had a profound impact on China's economy and politics,and aroused wide social resonance.The spirit of the 19 th National Congress of the Communist Party of China advocates that enterprises seek win-win results through competition,maintain the original aspiration of feeding social progress through enterprise development,actively respond to the society in the course of development,solve the problems facing the society,undertake corresponding obligations and fulfill corresponding responsibilities.In recent years,gradually increase of corporate social responsibility awareness among the public,the government also issued some relevant regulations,enterprises to choose the number of independent disclosure of corporate social responsibility report increased year by year,but the quality of disclosure report generally is not high,industry in the aspect of social responsibility to fulfill still cannot satisfy the public,corporate responsibility as a burden.The first goal of production and operation of enterprises is to maximize the shareholder rate of return,maximize the private interests of enterprise personnel,but often ignore their own social responsibility,such myopic behavior to social development poses many obstacles,bring many hidden dangers to social development,is not conducive to the sustainable development of social economy.Enterprises' fulfillment of corporate social responsibility is mere formality and lack of depth,and the corporate management's awareness of social responsibility is insufficient,so it is difficult to form a wide range of social influence and credibility,and it is difficult to improve the public's trust in them.Corporate social responsibility plays an increasingly important role in the process of healthy and sustainable economic development,attracting more and more attention from the public and scholars.How to improve the level of corporate social responsibility has become a focus of academic research.Most scholars focus on internal factors of enterprises and corporate governance.Some scholars have studied external factors,such as corporate social responsibility,institutional environment,government regulation,media attention,market environment and so on.This paper holds that neither internal nor external perspectives can effectively improve the performance level of corporate social responsibility,and the internal and external factors influencing the mechanism of corporate social responsibility have not been clearly pointed out.So,in this paper,in the study of corporate social responsibility fulfillment situation factors,at the same time considering the two aspects of internal control and media attention factors,namely the analysis of the internal control by means of empirical analysis,the media attention and the correlation between corporate social responsibility,and to explore the influence of the media attention to corporate social responsibility mechanism,the role of enterprise internal control.This paper selects social responsibility reports of A-share listed companies from2010 to 2018 as samples,and explores the correlation between internal control,corporate internal control and corporate social responsibility through empirical analysis.Firstly,the influential factors of social responsibility are sorted out and summarized,and the influence mechanism among internal control,media attention and social responsibility is explored and analyzed in combination with a variety of basic theories.Then,this paper examines the correlation between internal control,media attention and social responsibility by means of competition.The results of the empirical analysis show that the media attention has a positive effect on the performance of corporate social responsibility,and the internal control also has a positive effect on the performance of corporate social responsibility.In addition,in the influence mechanism of media attention on social responsibility,internal control plays a transitive role as an intermediary variable.Through further analysis,it can be seen that the mediating effect of media attention on internal control in SOEs is more significant than that in non-SOEs.Manufacturing industry media attention to the influence of corporate social responsibility is bigger than the coefficient of the regression results,the real estate industry media attention to corporate social responsibility coefficient is less than the coefficient of the main regression results,the influence of the manufacturing industry and real estate industry,the effectiveness of internal control in the process of media influence on corporate social responsibility also played an intermediary effect.In addition,in order to solve the problem of endogeneity by robust data results,the bidirectional fixed effect model and instrumental variable fixed effect model are adopted in this paper for endogeneity processing.The results are consistent with the results of main regression,which further proves the robustness of the results.According to the conclusion,this paper puts forward the corresponding strategies in four aspects: first,strengthen corporate social responsibility awareness;Second,we should give full play to the role of the media and urge the society to actively fulfill its social responsibilities.Third,strengthen internal control to achieve social responsibility integration;Fourth,strengthen the coordination of internal and external factors to enhance the sense of mission and responsibility of enterprises.