Study On The Information Disclosure Of Social Responsibility Based On The Interests Of Minority Shareholders

Nowadays, the study of the corporate social responsibility and the relative movements of corporate social responsibility in the range of the world are the new trend, so there is no doubt that corporate should fulfill and disclose their social responsibilities. But how to disclose the performance of corporate social responsibility is a hot issue in theory and practice. In addition, the majority shareholder’s deprivation on the interests of minority shareholders is common and very severe. How to protect the interests of minority shareholders is a pressing problem of the day. Based on this, I combine this hot issue and pressing problem and try to explore how to include the protection of minority shareholders in the disclosure of corporate social responsibility.In the first place, taking the stakeholder theory as the starting point, this paper analyzes the mechanism between corporate social responsibility and the protection of minority shareholder’s interest by combing corporate social responsibility and minority shareholders. Corporate social responsibility means that corporate should be responsible for their stakeholders, minority shareholder, as the stakeholder, should be the subject of corporate social responsibility. Then, this paper analyzes the connotation of the evaluating index system about corporate social responsibility, supporting that corporate should be responsible to their minority shareholders.In the second place, this paper empirically analyses whether the enterprises ignore the interests of minority shareholders in the process of social responsibility performance. Through the study of the correlation between the corporate social responsibility development index and price-earning ratio, dividend-yield ratio from year 2009 to 2013, this paper demonstrates that in the process of social responsibility performance the interests of minority shareholders are ignored at present, which lays a solid empirical foundation for further study.Finally, based on the qualitative and positive analysis above, this paper proposes the necessity of corporate social responsibility disclosure on the interests of minority shareholders and discusses the disclosure index system.Through the study of this paper we can draw the following conclusion: firstly, the performance of corporate social responsibility and the protection of the interests of minority shareholders are closely related. Secondly, it is incumbent upon enterprises to fulfill and disclose corporate social responsibility based on the interests of minority shareholders. Thirdly, by bringing forward the corporate social responsibility disclosure indexes system, we could enrich the disclosure study of corporate social responsibility and advance a new resolution to the embezzlement of minority shareholders.