| With the increasing attention of the capital market to corporate Environment,Society and Governance(ESG),social responsibility report has become an important carrier for stakeholders to understand the sustainable development ability of enterprises.The impression management behavior hidden in the social responsibility report has gradually been exposed to the attention of academia and the public.Pharmaceutical enterprises are in a strategic industry related to the national economy and the people’s livelihood and shoulder an extraordinary social mission.The impression management behavior and cause and effect in their social responsibility report are indeed worthy of in-depth discussion.This thesis aims to further confirm the universality of impression management behavior,reveal the means of impression management,and warn information users.Firstly,with the help of current research results,this thesis establishes the action mechanism of impression management behavior in the process of social responsibility information disclosure.Secondly,using the case study method,taking the social responsibility report of China Resources Pharmaceutical Group Limited from 2016 to 2020 as the analysis object,this thesis discusses its impression management behavior in information disclosure based on stakeholder theory,legitimacy theory and information asymmetry theory.It is found that CR Pharmaceutical mainly adopts two kinds of impression management means: designing disclosure content and manipulating text characteristics,which is manifested as "reporting good news but not bad news" "Selective disclosure","readability manipulation" and "cosmetic manipulation" In addition,although there is attribution phenomenon in its social responsibility report,it is not very significant.Then,the thesis deeply excavates the impression motivation of CR pharmaceutical information disclosure,and finds that there are two economic factors: enterprise value-added and management defense,and three legitimacy factors: enterprises resist the supervision of external government,industry and news media Then,the thesis analyzes the economic impact of impression management behavior on CR pharmaceutical,and holds that in China’s weak efficient market,investors cannot evaluate the deviation of information disclosed by enterprises in a short time.CR pharmaceutical’s impression management behavior helps to improve enterprise reputation,alleviate financing constraints,enhance financial performance and Strengthen market value management.Finally,according to the results of case analysis,the thesis puts forward suggestions from two aspects of information disclosure and impression management to restrict the process of enterprise information disclosure. |
