Effect Of CEO Characteristics On The Quality Of Corporate Social Responsibility Information Disclosure

With the domestic corporate social responsibility issues becoming increasingly prominent, stakeholders of all walks are attaching more attention to corporate social responsibilities, and assuming social responsibilities, and timely exposing corporate social responsibility information has become the obligation of the listed companies. The disclosure of the corporate social responsibility information of listed companies has gradually become the hotspot of the researches of domestic scholars.It is shown by the previous studies that CEO, as the vital manager and decision maker of the enterprise, their characteristics have direct or indirect influence on the design and implementation of the corporate organizational strategies. Thus, the corporate social responsibilities as the significant corporate strategy, will the features of CEO exert influence on the quality of the disclosed information? What kind of influence will it exert?This paper takes the top echelon theory, agency theory, signal theory, legitimacy theory and stakeholder theory as its supports, and by combing the existing literature, it firstly gives an overall description of the background of the disclosure system and the disclosure state of our corporate social responsibility information. Secondly, it proposes seven research hypotheses from three dimensions of the physical characteristics, background characteristics and power characteristics, and by taking the listed companies in the disclosed social responsibility reports of Shanghai and Shenzhen city during 2011-2014 in Jin Rong Ling Global Social Rating, it respectively takes the total score and the four separate items comprising the total score, integrity, content, technical and industry scores as the dependent variable, and by employing multiple regression analysis, it empirically makes the research on the impact of the age, gender, education background, salary, holding the outer part, power and other characteristics of CEO on the report quality of the corporate social responsibilities, from the aspects of the overall sample of listed companies, by region and by publishing the wishes of the sample classification of samples. The empirical results are shown below:(1) In the research where the corporate social responsibility report total score as the explanatory variables, it is found that that the education and salary levels of the CEO, whether they hold shares of the enterprise, and whether they takes a part-time job outside has a significant positive correlation with the social responsibility information quality exposed by the enterprises; the power of the CEO is negatively correlated with the social responsibility information quality; the age of the CEO and their gender feature has no apparent correlation with the disclosed social responsibility information quality.(2) In the research where the four sub-scores of the corporate social responsibility report as the explanatory variables, the features of the CEO exert greater impact on the quality of integrity and content of the disclosed corporate social responsibility information, and they also affect the technical and industry contents, but the explanatory power of the model is relatively weak. But in the whole, the results of the research in which the conclusions of the sub items as the explanatory variables and the research in which the overall scores as the explanatory variables are relatively consistent.(3) In the district classification researches, it is found that regional differences exist in the exposed corporate social responsibility information quality, enterprises in the eastern district are better than those in the midwest; it can be seen that in the research which is classified by published intentions, the information quality disclosed by the enterprises who are forced to disclose the social responsibility information is superior to that of the enterprises who voluntarily to do so.In conclusion, on the basis of the full text analysis and research results, and from the perspective of the information disclosure of the people concerned, the paper proposes the suggestion to enhance the disclosed information quality of our corporate social responsibilities, respectively from the aspects of improving the corporate governance structure, strengthen self-discipline and CEO of external regulatory role play, etc.