Research On The Disclosure Of Listed Companies' Social Responsibility Reporting

The corporate social responsibility of listed companies has received more and more attentions with the process of economic globalization. The disclosure of corporate social responsibility reporting is also becoming prevalent. Based on disclosure regulations in our country, social responsibility reporting disclosure quality, disclosure determinant factors, and actual effects about disclosure regulations established by supervisory departments are investigated by using normative and positive research methods.The works and innovations are summarized as follows:(1) The research designs and views based on regulations background in our country are provided based on the comparative discussion of relative studies at home and abroad,including definitions of the corporate social responsibility reporting concept and contents, the company community responsibility report disclosure index measurement, disclosure quality assessment, an empirical study of disclosure determinant factors and actual effects about corporate social responsibility reporting disclosure regulations.(2) The corporate social responsibility reporting disclosure index and five disclosure index classes based on regulations background in our country are designed by the index method, according to social responsibility information'two dimensions on quantity and quality.the state art and contents of disclosure are analyzed. The paper draws following conclusions: state-owned listed companies are the main disclosure body; manufacturing industry,the electric power, the coal gas,the water production and the supply industry as well as the mine industry are situated the front row; Finance, the insurance business and the real estate industry disclosure corporate social responsibility reporting to improve brand value; Local distribution of disclosure presents the imbalanced state,overwhelming disclosure majority concentrate in the economical developed area as well as the area where the government impel social responsibility reporting disclosure. The community and the shareholder disclosure level are the best, next is the environment and the employee.The customer disclosure level is the worst.(3) The paper on the perspective of decision usefulness, summarizing accounting information quality research conclusions and refering to the "SustainabilityReporting Guidelines"(the G3 version) of Global Reporting Initiative (GRI) and using six principles about social responsibility reporting disclosure quality, analyzes listed companies'social responsibility reporting disclosure quality.Results indicate the effectiveness and the clarity display well, but the comparative and measurability, reliability as well as the accuracy have flaws, which reducing reporting users' decision usefulness.(4) A model on listed companies'social responsibility reporting disclosure determinant factors is constructed. Single variable and multiple variable empirical analysis results indicate that net assets returns ratio and size are remarkable positively related with social responsibility reporting disclosure level.Financial leverage is negatively related with social responsibility reporting disclosure level.Heavy pollution industry is expected to provide much high level of social responsibility information comparing with other industry. State-owned listed companies are expected to provide much high level of social responsibility information comparing with other companies. The hypothesesss that listed companies'social responsibility reporting disclosure influenced by foreign listed, chairman and general manager whether are the same are not supported by evidences. The theory model'validity is verified and economics explanations are provided.(5) Using the paired samples average test and the multiple regression analysis, the paper examines actual effects of listed companies'social responsibility reporting disclosure regulaitons. Results indicate that after disclosure regulaitons issued, listed companies'social responsibility reporting disclosure level has a remarkable effect. The classification index disclosure paired samples test results indicate, after disclosure regulaitons issued, the community and the staff disclosure level have a remarkable effect, but the environment, the shareholder and the customer having a remarkable effect do not received supporting evidences.(6) The paper provides suggestions for perfecting the listed companies' social responsibility reporting disclosure system, from three angles of views, including including improving listed companies' social responsibility reporting disclosure quality, consummating listed companies' social responsibility reporting disclosure regulaitons and establishing listed companies' social responsibility reporting disclosure prompting and restrainting mechanisms.