An Empirical Analysis Of Corporate Social Responsibility Information Disclosure

It is clear that enterprises being the main body of social development responsibilities are growing with the further development of China's economy. That idea that companies should make more contributions to society in the pursuit of profit maximization has become a consensus. Social Responsibility Information has been explored in Western society for several decades, no matter in theory or in practical research this has already achieved many results. Meanwhile, Western ideas of social responsibility have been accepted gradually by Chinese scholars and practitioners; however China's current social responsibility information research is still in the preliminary study stage. Nevertheless, the official foreign release of a series of initiatives related to"the Shenzhen Stock Exchange guidelines on corporate social responsibility,"of Shenzhen Stock Exchange, September 25, 2006 indicates that extensive attention from all sectors of society has been attracted to social responsibility, and begins to guide China's enterprises to fulfill their social responsibilities from a policy perspective.This article reviewed the research findings of social responsibility information in the West and the East and the theoretical basis revealed by social responsibility information in the first place. In addition, this paper promoted social responsibility information disclosure index fitting China's situation, through drawing on the United Nations "Global Action performance", Social Accountability International's SA8000, and the Global Reporting Initiative's GRI3 these three indicators of social responsibility, combined with our existing theoretical research and practical situation. Moreover, this essay examined China's basic social responsibility information disclosure at the present, pointing out several existing problems, such as the low level of China's current social responsibility information disclosure, the inconsistent disclosure contents, and a lack of audit in responsibility reporting and the shortage of motivation.This paper selected the Shenzhen Stock Exchange listed company in 2007 in 143 enterprises as the research sample, and conducted empirical analysis on the factors influencing China's corporate social responsibility information, arriving at a conclusion that Social Responsibility Information Disclosure Index (SDI) is positively correlated with several significant factors including enterprise size, industry category, the size of the board of supervisors, while negatively correlated with the profitability of the business. Furthermore, this essay demonstrated that business growth, financial leverage, the size of independent directors, the chairman and general manager of two grade-one do not have impact on the corporate social responsibility information disclosure. Finally, provided effective policies and recommendations associated with improving the status quo of China's corporate responsibility information disclosure from the theoretical and practical aspects of social responsibility of information.