Research On The Influence Of Executive Stock Ownership On The Disclosure Of Social Responsibility Information Under Different Property Rights

Along with the progress of reform and opening up, the economic development of our country has won a remarkable achievement. Enterprise is an important part of society, making a great effort to promote economic development in the fast pay. In order to maximize the business goal, companies not only bring their own value-added business also contributed to the rapid economic development, which resulting negative impacts such as low environmental pollution, product quality and other social responsibility issues occur frequently. Behind economic growth reflects a problem that is the lack of corporate social responsibility and stakeholder’s interests. Practicing corporate social responsibility is the obligation of the enterprise, and disclosing related information to the public is the focus of social concern. Currently academic research on social responsibility focused on the aspects of Governance environment, the characteristics of the Board of Directors and Corporate Performance and other relations. It has reach some conclusions. The domestic and foreign scholars have not reach an agreement in studying how the equity structure of corporate affect the social responsibility information disclosure, this article targets it as a starting point.Firstly, this article reviews the connotation of social responsibility, the methods of measuring and factors of social responsibility information disclosure, according to which determines the research direction and variable; Secondly, It describes the relevant theories. There are four theories. Based on the analysis of these theories, the author then determine the hypothesis of this paper. The A-share listed companies in Shanghai stock market are selected as the research object, using linear regression analysis model for empirical research. First of all, the nature of property, shares held by senior management are researched how affect the disclosure of the corporate social responsibility information. Depending on the nature of the property, the whole sample is divided into two groups to observe the proportion of executives holding how to influence the social responsibility information disclosure.In this paper, by means of empirical test shows that, in China, corporate social responsibility performance is not optimistic. The performance of disclosing corporate social responsibility in our country is not very good, and the information of corporate social responsibility has a large gap in different country. The nature of property and executives holding two variables studied in this paper both have affected the disclosure of social responsibility information : Firstly, the level of disclosing social responsibility information in the state-controlled listed companies is higher than non-state-owned holding company; secondly, if the executives holdings increase, there will be more social responsibility information, but the effect is not significant; thirdly, if the nature of business ownership is different, the effect of the proportion of executives holding is different. The effect of the proportion in Non-state-owned is higher than the state-controlled listed companies.