A Empirical Research On Factors Of Corporate Social Responsibility Information Disclosure

The companys are basic organizations for the running of social economic, not only to ensure the normal organizing of the production, distribution, services and other economic activities, but also to meet the needs of the society, this would require the enterprises must take part of social responsibility in its production process. After carrying out social responsibility, enterprises will reveal the details of its implementation in various ways. At present, our enterprises have formulated different implementation of social responsibility with their actual circumstances, considering their own sectors and profitability. The various ways and the different strength of social responsibilities performance make the disclosure different. And so have, so corporate social responsibility and to the intensity varies in information disclosure of social responsibility information are also difference. The major factors that affect the social responsibility disclosure will be studied in this article.In theory research, the article have reduced the contents, form and the factors of the disclosure about the social responsibility and reviewed the process that our listed enterprises revealing the social responsibility information. Through the statistics description, we could find out the situation of the social responsibility information disclosure. We build a model through the construction of index of the social responsibility information, and the using of voluntary disclosures index as variables in the paper part. With the filtering for variables, we find the factors of the social responsibility information disclosure, through factor analysis and a multiplicity of linear inspection. And finally, we make a conclusion through the inspection to the results.The main discovery and innovation of this article will be showed in the following:First, with the increasing of variety of laws and regulations related to the content of social responsibility information disclosure, mandatory information disclosure system of social responsibility have a rapid development in China. But voluntary social responsibility information disclosure is not perfect, and its main indicators of social responsibility information disclosure system are not perfect. About the corporate social responsibility in the information disclosure index system, a more detailed index system of classification will be designed in this article basing on LiZheng(2007), to build a new measure of system including environment, employees, communities, governments, consumers and creditors, the six major categories and twenty-two subclasses. Second, with the investigation of various factors on the impact of social responsibility information disclosure including firm size, financial performance and proportion of independent directors, the company ultimate control people has been joined in this indicator variables of the model and design in this article. Through the study we find that firm size, financial performance and the proportion of independent directors are all a significant positive correlation with enterprise social responsibility information disclosure. Once the Ultimate control people of the companies belong to state-owned enterprises, their social responsibility information disclosed more than other companies. Whether the general manager held by the directors, it has no significant correlation with the enterprise social responsibility information disclosure. That means, in our country, listed enterprises which have lager scale and better financial performance, voluntary disclose more social responsibility information through the annual, to achieve the purpose of transmitting information to the market, and to enhance the value of the company in the market. When make decisions, the independent directors of listed enterprise not only to maximize shareholder value as the company's only goal, but also to implement effective oversight to the company considering national policy and sustainable development of the company. State-owned enterprises disclose more social responsibility information than the private sector, that is because:First, State-owned enterprises have more advantage in all aspects than private enterprises,and they will be required to perform new policies related to social responsibility published by the state. Second, States can implement more oversight on state-owned enterprises, and the functions of state-owned enterprises are not only "earning money".