Research On Information Disclosure Of China's Foundations

In the past ten years,China's philanthropy has developed at an extremely fast pace.While China's non-profit organizations are booming,the number of foundations is also increasing.According to the 2018 Charity Blue Book:China Charity Development Report,the total amount of social donations in China was about 155.8 billion yuan in 2017,of which the foundation donation income has reached 68 billion yuan.Along with the increasing enthusiasm of the public,the use of donated funds has become more and more concerned.However,in recent years,the lack of effective supervision of the charity industry has gradually emerged in the frequent public welfare scandals.To achieve effective supervision of the foundation and the charity industry,stakeholders need to obtain effective information.Currently,however,is the good and the bad quality of information disclosure of information disclosure of the status of the Foundation,the Foundation only effective and high-quality information to be able to reduce the disclosure of information between the user and the management of information asymmetry.In China,academic research on foundations is still in the initial stage of development.Most studies only deal with certain aspects of fund information disclosure,such as the construction of legal systems,influencing factors,internal governance and supervision,and government regulatory measures.Research on information disclosure is based on the research of financial information disclosure of foundations,and most of the research only proposes policy guidance and suggestions from a macro perspective.There are very few studies that combine relevant theories with specific foundations.So innovation of this paper is to stand Foundation stakeholder information needs point of view,expand the case and the combination of theory to explore the status of information disclosure Foundation and the problems that exist.This paper adopts the research method combining theory and case study.Facing the current situation of the difference in the quality of information disclosure of China's foundations,the current existing laws and regulations are summarized and combined with the needs of stakeholders for information disclosure.Comparing the selected two foundations,it is found that the quality of information disclosure is quite different,and the reasons for the differences are further explored from four aspects:organizational complexity,personnel composition,cost structure and policy factors.It is found that foundations with higher organizational complexity and lower management costs have better information disclosure quality.Therefore,suggestions have been made in combination with the current disclosure status of the Foundation and the experience of information disclosure by non-profit organizations at home and abroad.The significance of this paper is to help foundations and even charitable organizations to get out of the plight of charity scandals,to regain the recognition of the public,and to enable the public to monitor the use of social welfare assets in China on the basis of high-quality information..