Research On Drivers Of Corporate Social Responsibility Information Disclosure And Information Value

Thirty years of reform and opening up,Although the pace of economic development in China has attracted worldwide attention,we unable to strike a balance between coordinated economic and social development of the conflict,contradiction between corporate and community interests increasingly prominent,corporate social responsibility is increasingly aroused the concern of the community.Enterprises as one of the main body of the Economic and Social,its development can not be divorced from the social progress,thus it is bound to assume the social responsibility of a certain limit.However,part of the business in recent years the simple pursuit of high profit margins and market share mode of operation has brough a series of threats to the sustainable economic and social development,trigger a series of social problems by the strong criticism from the community,subject to strong criticism from the community,seriously affected the image of corporate and impact on the continuity of the enterprise development.Therefore,how to promote corporate social responsibility disclosure system in China to quickly build has become the new problems of our society that must be addressed,and social responsibility information disclosure may be the best way to solve this problem.Scholars from various countries of corporate social responsibility information disclousure system and the effect of excessive angle,froming a rich theoretical results. We relatively late start in this area,has yet to develop a corporate social responsibility information disclousure of relevant laws and regulations.To see whether the experience gained and results from the intenational mainstream research,or from a domestic theory and practice need to see,we should make comprehensive exposition of the following questions:How to define corporate social responsibility information?What are the influencing factors of corporate social responsibility information disclousure?What are the impact of corporate social responsibility information disclosure on the sustainability of profitability and development of the corporate cost of capital?Using professional database, we study the determinants and information value of the social responsibility reports issued by Chinese A-share companies. The empirical results suggest that operating performance and firm size have significantly positive relationship with the quality of the social responsibiliyt reports, the reports issued by firms with greater developing potentiality have relative worse quality. The information in the reports has positive relation with future performance, which is only significant to those firms issuing social resposibility reports voluntarily.