Research On Normative Evaluation Of Corporate Social Responsibility Information Disclosure

In recent years,in the major global securities markets,the corporate social responsibility(CSR)information disclosure rule system has shown a change trend from advocacy and encouragement to mandatory requirements.In our country’s CSR information disclosure policy,the compulsory is mainly reflected in the report disclosure and the core topic framework.The report content preparation has a high degree of autonomy and selectivity.There is a problem that the disclosure content is streamlined in form and different indicators.There are varying degrees of omissions in the content of the report making it more difficult for readers to read and review by supervisory agencies.However,in the multiple editions of the "Guidelines for the Governance of Listed Companies" and the "Management Methods for Information Disclosure of Listed Companies" issued by the China Securities Regulatory Commission,it is clearly stated that the obligor of information disclosure shall not have "significant omissions" when disclosing information.It can be seen that information omissions have always been The important content of my country’s securities market supervision,but the judgment of major omissions has always lacked effective means and tools,and theoretically,there are also certain disputes about the understanding of "omissions".In addition,unlike financial reports,CSR information disclosure has the characteristics of non-standardization and non-comparability,and lack of consistency and objectivity evaluation standards for report verification.So how to build a common standard system,detect the omission of information of the enterprise,and judge the degree of standardization of the enterprise’s disclosure according to the standard has become a problem worthy of in-depth discussion.Based on this,in order to solve the problem of the omission of CSR information disclosure,this research starts from the requirements of the rule system,through theoretical review,in-depth exploration of the company’s different degrees of CSR information omission,and uses a standardized concept to describe it uniformly.Standards are used as the basis for judging whether or not CSR information is disclosed.Based on summarizing the current status of CSR information disclosure and sorting rules,this article builds a set of passed index evaluation system,and designs an evaluation plan for testing the standardization of CSR information disclosure,reflecting the company Motivation for disclosure.Taking the full-sample CSR reports issued by listed companies from 2008 to 2018 as the research object,it explores the degree of standardization of CSR information disclosure from three levels:omissions of major issues,omissions of general indicators,and omissions of modification.The research results show that:at the level of "significant issue omissions",there are obvious differences in the coverage of core issues under different industries and the nature of property rights,while the differences between years is not obvious.This is mainly due to the fact that companies are already in line with the core issues when they first disclose.Subjective intentions,such as risk aversion,lead to adjustments in disclosure strategies,thereby deliberately concealing certain information;at the level of "general omission",the disclosure rates of different sub-indices differ to a certain extent,showing different changes Trends,companies will change their emphasis on indicators due to the external environment and internal strategic adjustments,resulting in indicator selection behavior.Different industries have different compliance processes under different topics.Industries with stricter policy restrictions will more strictly and comprehensively fit the content of the topics;at the level of regulatory disclosure through "modification of omissions",different industries,years,and There are significant differences in the normative scores under the nature of property rights.The introduction of external policies and normative guidelines is a possible reason for the difference in years.The characteristics and policy requirements have caused differences between industries,and the difference in compliance sensitivity makes state-owned enterprises more Highly standardized disclosure intention.In addition,the difference in weight shows the degree of change in the index,providing information users with a more detailed observation perspective.Compared with previous studies,the innovations and contributions of this study are mainly:First,this study proposes a relatively adaptive standard under the conditions of dynamic changes in the CSR information disclosure environment,taking into account the omission of indicators and the semantic description of the text.Circumstance,to achieve a reasonable evaluation of the disclosure norms.Second,this article provides a new dimension and a set of quantifiable data for relevant empirical research,and provides information users with a more detailed perspective of corporate disclosure behavior and motivation,which has certain enlightening value for the construction of new management theories.Third,this research combines machine learning and text mining technology to achieve topic positioning,segmentation search,and index evaluation,and overcomes the subjective emotional intervention during manual report review and the problem of low information extraction accuracy caused by too long reports.,Which is more in line with the manual review process,and has certain reference significance for data mining and data structuring of specific texts.