Research On Corporate Responsibility Rating Based On Multi-level And Multi-category Logistic Model

In the course of deeply transition of China economy,profit maximization is the only purpose of operation for many enterprises.They have no sense of social responsibility or have no initiative to take the responsibility.The Chinese Government attaches great importance to enterprise development,and introduces many foreign enterprises with advanced managerial experience.Western countries experienced rapid economic development after the industrial revolution,but the economic cost of the environmental pollution is also enormous.Those they experienced are what China experiencing.After systematic study of those problems,western countries raised a concept of corporate social responsibility,CSR in short.The CSR theories require enterprises take both profit and social responsibility into account rather than giving up their profit strategy.Now the CSR theories in China are not as mature as western countries.We lack a perfect information disclosure system with high comparability,transparency and facticity.Although the government published CSR information disclosure requirement of the listed companies,many companies only disclose positive messages or even disclose false messages to protect their good image in the eyes of investors.The CSR rating practices in China also use the experience of other countries for reference but without a same standard,lack comparability and transitivity.Hui Ling Universal enterprise is the best third authoritative institution in CSR auditing.This enterprise grades the CSR reports of listed companies using MCTI evaluation system.M,C and T are three indexes of MCTI,and are marked by senior specialists.This research uses the data to build a multilevel multi-class logistic model to analyze the quality of domestic listed companies' CSR report.Results show that,the influence of hierarchical structure should be added to the C index.Moreover,the C index should divide information disclosure into two parts,one is the essential part to publish and the other is the optional part.In addition,we find low facticity,reliability and accessibility of CSR data,especially in financial industry.Consequently,the Chinese Government should amplify effort to improve the system of CSR.This work can increase the competitive power of domestic enterprises,as well as the fame and status of our country in the world.