Reseacrh On The Influencing Factors Of Social Responsibility Disclosures Of Listed Firms In Energy Industry

It’s inescapable responsibility to the company for taking on social responsibility anddisclosuring the social responsibility information.There are a lot of social responsibilityoften happen in morden and series of social problems have become increasingly apparent,such as Shuanghui clenbuterol events. Zijin Mining event, Sanlu milk powder incident,the cadmium pollution incidents of Guangxi Liuzhou Longjiang River. In China, mainenergy sources is coal in the energy sector, so there must be accompanied by highpollution problem in the process of energy development，therefore,it’s necessary toresearch the energy industry social responsibility information disclosure status. Based onthe above background,this paper studies the external pressures associated with socialresponsibility information disclosure of the energy industry.The starting point of this study is based on literature review of the domestic andforeign scholars on corporate social responsibility information disclosure. Analysis usesthe method of theoretical analysis and empirical analysis.For the theoretical part, it’sbased on stakeholder theory, legitimacy theory, the theory of public pressure to explainimpact of external factors on the social responsibility information disclosure andproposes theoretical assumptions,that established index to measure corporate socialresponsibility information disclosure. For the empirical part, chosen by internal factors(such as firm characteristics, corporate governance structure, etc.) as a control variable,by linear regression to analysis external factors (government intervention, public pressureand system pressure)and information disclosure of listed companies in the energyindustry to conduct an empirical test.Through analysis, we get the following conclusions:First, China’s energy industry, social responsibility information disclosure of listedcompanies increased year by year, the trend is toward better, but the overall level ofdisclosure is still relatively low; Second, the external factors, the nature of the largestshareholder, social contribution rates, constraints of laws and regulations, energy industrysocial responsibility information disclosure levels were significantly.to other factors,listedcompanies in the energy sector social responsibility information disclosure level is notsignificant, such as differences in the market and the media exposure; Third, to theinternal factors, the size of the board, company size, asset-liability ratio and ROE andenergy industry social responsibility information disclosure of listed companies weresignificantly correlated, but the chairman and the general manager weather combined, theproportion of independent directors of China’s energy industry and social responsibility information disclosure levels showed no significant relationship.Finally, based on the research results, this paper presents detailed policyrecommendations from two aspects, mainly on the internal governance structureoptimization,improving the company’s external environment, in order to better promoteChina’s listed companies in the energy industry to actively fulfill their socialresponsibilities to the public disclosure of a high level social responsibility information,and to provide theoretical sense for the benefit of corporate stakeholders.