The Research On Information Disclosure Of Corporate Social Responsibility Of China’s Listed Companies

During the4years from2005to2008, the total number of CSR reports was less than140, but more than400CSR reports were published during2009. The domestic CSR reports took on an air of unprecedented prosperity. So far, most researches in CSRI field centered in CSRI’s descriptive analysis. Others only simply descript CSRI’s drivers, contents, features, modes and so on. Most of them haven’t systematically explored the deep-rooted facers of CSRI such as the deciding factors and the market reaction.This research give a brief introduction of CSRI’s origin and development, review and summarize CSRI’s contents, ways, existence condition, influential factors. This paper is an empirical report on listed companies of2011in terms of disclosure on social responsibilities and the underlying reasons, meanwhile. This research fixes on social responsibility’s market reaction. The findings are that general status quo of corporate disclosure on social responsibilities is far from satisfactory, the way of disclosure are simplicity, disclosure of the contents have larger differences and are not perfect. The disclosure quality is very much related to their performance, industry attributes, corporate size, nature of the business. There are significant correlations between CSRI and value of a company. At last, this paper will give suggestions to social responsibility information’s disclosers, users and constitutors.