Empirical Research In The Corporate Social Responsibility Information Disclosure Of Chinese Central State-owned Enterprises

Information disclosure system is the core content of the securities law, and its maturity degree has close relationship with the establishment and development of the securities market. The traditional financial statements are the importance sources of core information in capital market; However, traditional financial statements have deficiencies they put too much emphasis on shareholders and therefore overlook other stakeholders’interests, which probably makes the company deviate from the goal of sustainable development. Nowadays, the traditional opinion that company only account for shareholders is out of accord with the times. The company should develop harmoniously with its stakeholders if it ads from a long-term strategic angle. Therefore, it is necessary for company to disclose social responsibility information to reflect its situation, plan and corresponding measures of social responsibility, it is a way to communicate with its stakeholders; also, it can receive the stakeholders’ suggestions in time. Corporate social responsibility information should be a kind of benefit and important information beyond financial information. At present, research on corporate social responsibility information disclosure in our country is still immature, and the corporate social responsibility disclosure practice is also not optimistic. Therefore, systematic research on corporate social responsibility information disclosed is not only the inherent requirement of the socialist market economy and sustainable development, but also the urgent need of accounting theory development and practice reformation.This paper comprehensively uses the basic theories and research results of accounting, sociology, ethics, statistics and so on, and applies normative research and empirical research comprehensively to systematically study on the corporate social responsibility information disclosure; at the same time, this paper utilizes the index method and comparative research methods in specific fields.This paper’s contributions are as follows:Firstly, it enriches the literature of CSR disclosure. Although it has past a long time since research on CSR disclosure, the literature is mainly about Europe, America and such industrialized countries. Considering the difference of economic development degree, culture and national on corporate social responsibility information disclosure, it is not appropriate for us to use the results directly to China. Although there are some scholar’s studies on China’s CSR disclosure, it is still lack of systematic research. This paper take a systematic and comprehensive study on CSR disclosure, and to some degree enriches the literature of CSR disclosure of developing countries.Secondly, empirical research has fully considered the domestic existing limitations of past relevant study, based on the legitimacy theory and stakeholder theory, this paper takes a comprehensive research on China’s CSR disclosure situation. And on this basis respectively study on determinant of overall CSR disclosure and specific CSR disclosure the empirical study is comprehensive and to some degree deepen relevant research, and provide a new perspective for completing China’s CSR disclosure mechanism.Thirdly, the paper proposed suggestions on completing CSR disclosure, which has value to companies, supervising institutions and academic circles, and the suggestions have strong reference value. According to the situation that CSR disclosure remains at a low level in China, the paper proposes that we should strengthen stakeholder orientation in CSR report, and selectively use accounting-based CSR disclosure Patten, the paper also puts forward creatively a stakeholder-based social accounting statement. In order to develop a basic CSR disclosure framework of China, the paper puts forward that we should gradually utilize lower disclosure paten to higher, and take the company’s conditions into account, at the same time make clear corporate social responsibility information quality. In addition, we should constantly strengthen corporate social responsibility consciousness, and constantly complete the corporate social responsibility information disclosure regulations, and gradually introduce corporate social responsibility information verification mechanism, and develop and deepens CSR accounting theory study. These policy recommendations are not only targeted but also have strong practical significance.