Research On The Chinese Listed Companies' Corporate Social Responsibility Disclosure Effect

Corporate Social Responsibility is a hot topic in theory and practice. In reality, consumers, public, government and other stakeholders expect companies to take on its social responsibility besides seeking profit. Accordingly, the company has also realized the necessity for lead with social responsibility, and recognize the inescapable responsibility to society, in recent years, more and more enterprises engage in social responsibility activities. Reality's emphases on Corporate Social Responsibility encourage more scholars to research on corporate social responsibility issues, and Corporate Social Responsibility Disclosure (CSRD) is one of the main contents. At present, Research about Corporate Social Responsibility Disclosure (CSRD) involves the drivers of CSRD, information quality evaluation and so on, but there is little research about CSRD's effect, the understanding of disclosure effect is ambiguous and unclear. Only by deep understanding the positive effects of CSRD can company engage in social responsibility activities more actively.This paper set out from the drivers of CSRD, and base on stakeholder theory, and research on CSRD effect of Chinese listed companies. In the theoretical analysis part, this paper pointed out that the effect of CSRD is influenced by the disclosure drivers, disclosure object and disclosure action, meanwhile, the drivers dominate the effect of motivation, and the objects and the actions are the protection to achieve the effect. Based on stakeholder theory and previous research results, this paper ascertain the legitimacy and resources-based are the reason of CSRD, and stakeholder is the disclosure object, in addition, the disclosure involves disclosure form, disclosure content and disclosure level. By analyzing the rtlinux of CSRD, This paper identifies two kinds of CSRD effect: relieve pressure and improve performance. After, this paper use principal component analysis, independent samples T test, multiple linear regression analysis and other statistical analysis method to do empirical test.The paper is divided into eight chapters:The first chapter is introduction. This chapter's main content is introduce the whole paper briefly, including the research background, research value, research methods, research train of thought and innovation, as well as the structure and organization of the paper.The second chapter is the literature review and theoretical analysis. In the literature review section, this chapter make a review about CSRD's Measurement method, drivers of CSRD, existing research of CSRD effect and perspective them.On that basis, this chapter gives the implementation procedure chart of CSRD effect. In the theoretical analysis section, this paper propose that CSRD effect is influenced by the disclosure drivers, disclosure object and disclosure action. Disclosure drivers include legality motivation and resources motivation, and disclosure drivers dominate disclosure effect, disclosure effect is the outlook of disclosure drivers, corresponding,this chapter identifies two kinds of CSRD effect: relieve pressure and improve performance. Besides, the relationship between disclosure drivers and disclosure effect is influenced by disclosure object and disclosure action. So the stakeholder is the disclosure object, and the disclosure action contains disclosure form, disclosure content and disclosure level, the object is clearly or not and the action is reasonable or not will influence the implementation procedure of CSRD effect.The third Chapter is empirical analysis design. First, this chapter explained the concept of CSRD and effect. For CSRD, this article clearly illustrate specific meaning of disclosure form, disclosure content and disclosure level, basis on this, make sure the variable to evaluate at corporate social responsibility information. Also, this chapter makes a definition on CSRD effect and ascertains the variable to evaluate it. Finally, make basic descriptive statistics on CSRD of Chinese listed companies.The forth Chapter is going to analysis the effect of CSRD form with Chinese listed companies. First, this chapter two form of CSRD, they are annual report and corporate social responsibility report. Second, propose the research hypothesis about the disclosure form's effect. Finally, do the single variable analysis and regression analysis in order to explain CSRD form's effect, and then to analysis which kind of disclosure form is more effective.The fifth Chapter is going to analysis the effect of CSRD content with Chinese listed companies. Based on the last chapter, this chapter makes a further step to analysis the effect of CSRD content. According to stakeholder theory, this chapter divides social responsibility information into six categories in order to analysis whether each kind of such information is conducive to disclosure effect, and classify stakeholders in to strong relationship stakeholders and weak relationship stakeholders based on contract in order to analysis which group's disclosure effect more bigger.The sixth Chapter is going to analysis the effect of CSRD level with Chinese listed companies. This chapter plans to simple sum the score of all kinds of social responsibility information, and gets the total score of CSRD as disclosure level. Finally, this chapter use principal component analysis, independent sample T test and multi-line regression analysis to make empirical test on disclosure level's effect.The seventh Chapter is going to ascertain the total effect model of CSRD. In order to make the company effectively disclose corporate social responsibility information, establish an operability CSRD model is necessary. This Chapter uses the standardized regression coefficients of the disclosure content variables as weighting coefficient, and sums the score in order to ascertain the total effect model of CSRD.The eighth chapter is conclusions and suggestions. In this part,â… summarize and elaborate the main conclusions about the effect of CSRD, and then give some suggestions to our country's listed companies, and hope such suggestions is useful for company's CSR activities, also, give some advices to supervise authorities and some other parties, hope such advices can help the supervise authorities to make more effective CSR laws.The innovations are mainly embodied in the following aspects:(1)This paper set out from the drivers of Corporate Social Responsibility Disclosure; propose Corporate Social Responsibility Disclosure's effect and its influence factors. Construct a theoretical framework about corporate social responsibility disclosure effect. (2)Make an comprehensive measurement of social responsibly information disclosure from disclosure form, disclosure content and disclosure level. (3) After systematically analysis the effect of disclosure form, disclosure content and disclosure level, ascertain the weight of disclosure contents, and sums the score in order to ascertain the total effect model of CSRD.The limitations of this study include:(1) Because of the limitation of data collection, the paper only analysis the listed company's one year cross-sectional, and don't do multi-year statistic analysis.(2) During the theory and empirical analysis, this paper only consider the CSRD's effect on company, but don't consider whether such effect will support company to continue disclosure corporate social responsibility activities.