Research On The Factors Influencing The Quality Of Social Responsibility Information Disclosure In Thermal Power Listed Companies

Since the reform and opening up,China’s economy has developed rapidly,and now it has become the second largest economy in the world.With the development of economy and the progress of social civilization,the development mode of the "high consumption,high pollution and high emissions" has caused serious of problems like shortage of resources,environmental pollution and ecological damage.The traditional development mode is facing severe challenges.The theory of sustainable development has become an important concept in China.Thermal power enterprises discharge a large amount of air pollutants during the production of electricity.Besides,there is also inherent risks in power production.These problems make people pay more attention to not only power supply and profits in the thermal power enterprises,but more social pressure and social responsibilities as corporate citizens,and therefore,stakeholders tend to demand the disclosure of social responsibility information of thermal power listed companies.Although thermal power listed companies have begun to disclose social responsibility information gradually,it is not known whether information disclosure is able to meet stakeholders’ decision-making needs.This paper will study it,and explore the influencing factors and the relationship between them and the quality of the social responsibility information disclosure of the thermal power listed companies.The article mainly used the comparative research method and the empirical analysis method to carry on the research.On the basis of sustainable development theory,social responsibility theory,stakeholder theory,asymmetric information theory and agency theory,by drawing on the Rankins social responsibility rating system and social responsibility model proposed by "Guidelines for the compilation of Chinese corporate social responsibility reports(CASSCSR2.0)",we constructed the social responsibility information index system of China’s thermal power listed companies according to the eight requirements of the quality of accounting information and actual situation of China’s thermal power enterprises.On this basis,we selected data of 39 listed companies in 2014,2015 and 2016 as a research object,and used the method of content analysis to quantify the level of social responsibility information disclosure of China’s thermal power listed companies.Then we analyzed the status of social responsibility information disclosure,the existing problems and the reasons for the existing problems in China’s thermal power listed companies.In addition,this paper also analyzed the impact of five aspects including corporate scale,corporate profitability,financial risk,external concern and corporate culture on corporate social responsibility information disclosure in China’s thermal power listed companies and by constructing a multivariate regression model we tried to study the relationship between the five factors and the quality of information disclosure.The results show that the awareness of social responsibility information disclosure of thermal power listed companies needs to be improved,the quality of information disclosure is still low,and the way of disclosure is not standardized,.But in general,there is a gradual improvement trend.The scale of enterprise and enterprise culture are positively related to the level of information disclosure of social responsibility of thermal power listed companies.The influence of financial risk on the level of information disclosure of social responsibility is not obvious,and further research is needed.The impact of corporate profitability and media attention on the level of social responsibility information disclosure is contrary to the hypothesis,and further in-depth study is needed.It is the common requirement of the stakeholders to improve the quality of information disclosure of social responsibility in the listed companies of thermal power.Based on the conclusion,we provided suggestions from three aspects like improving the system of relevant laws and regulations,strengthening the propaganda of public opinion and improving stakeholders’ participation in order to improve the quality of social responsibility information disclosure quality of thermal power listed companies.It is for the sake of standardizing the disclosure of social responsibility accounting information in thermal power enterprises and promoting the thermal power listed companies to undertake the social responsibilities actively,pay more attention to the social benefits and then realize the sustainable development.