The Research Of Ownership Structure，Board Characteristics On Corporate Social Responsibility

At present， the empirical study of corporate governance and corporate socialresponsibility mainly focus on the one-side variables of “amount” such as ownershipconcentration， ownership restriction and so on. And the research on board characteristicsalso mainly concentrate in the traditional indicators such as the two postion setting of thepresident of board and CEO，board size and so on. But this paper makes the definition of"quality" and "quantity" about the shareholding structure， then studies the influence oncorporate social responsibility synthetically from ownership property and ownershipconcentration.The paper discusses furtherly ownership concentration，board characteristicsand corporate social responsibility will become what kind of relationship under differentownership property. At the same，this paper studies the board characteristics by using thenew variables such as the proportion of the independent directors is higher than one thirdor not，the proportion of directors have part-time jobs and so on. And grouping by theproportion of independent directors is higher than one third or not， this paper alsodiscusses that ownership structure and board characteristics make the specific impactinfluence on corporate social responsibility.This paper studies the relationship among the ownership structure， boardcharacteristics and corporate social responsibility from the angle of corporate governanceby the empirical method. The empirical result shows，ownership concentration has asignificant inverted "U" shaped relationship on corporate social responsibility.That meanshigher or lower ownership concentration all have a bad effect on corporate socialresponsibility. Moderate degree of ownership concentration makes the corporate socialresponsibility better.The ownership property has a positive effect on corporate socialresponsibility， but it’s not significant. However，grouping by the ownership property，social responsibility performance of state-owned enterprises are more stable than non state-owned enterprises. Proportion of independent directors have a negative effect oncorporate social responsibility，but it’s not significant.However the variable that theproportion of the independent directors is higher than one third or not has a significant andpositive effect on corporate social responsibility.In addition, the board of directors andsupervisors’ shareholding proportion has a significant positive correlation with corporatesocial responsibility, while the proportion of directors have part-time jobs does notsignificantly affect corporate social responsibility.