Study On The Influencing Factors Of Corporate Social Responsibility Disclosure Of Listed Companies In China

Profit maximization is the traditional operation philosophy of the enterprise.Since 1923,the term "corporate social responsibility" was first proposed,there had been many debates in western academia.But until the 1970 s,the view that the only corporate social responsibility is to obtain the greatest benefit still dominated the mainstream.After that,all sectors of society began to accept the corporate social responsibility widely,and this responsibility involved the concept of shareholders,employees,consumers,environment and so on.Then they began to think about the connotation of corporate social responsibility and the effect of its disclosure from different theories and dimensions.This paper deduces the influence of state ownership,bond issuance,A+H cross-listing and internal control on the disclosure of corporate social responsibility and designs the regression model for testing.The data used in the empirical test is from RKS,CSMAR and DIB database.Using Stata14.0 as the statistical software,the data was tested by descriptive statistical analysis,correlation analysis and multiple linear regression analysis,and finally reached the conclusion of the study.The empirical results show that :(1)The state ownership has a significant positive influence on the level of social responsibility disclosure;(2)Bond issuance has a significant positive impact on the level of social responsibility disclosure,and the bond rating is positively correlated with the level of social responsibility disclosure;(3)The cross-listing of A+H has significant positive influence on the level of social responsibility disclosure;(4)The internal control has a significant positive effect on the level of social responsibility disclosure,and state ownership,the issuance of bonds and the cross-listing of A+H can promote this effect.This indicates that the improvement of the level of social responsibility disclosure depends on the guarantee of state coercive force.The enhancement of competitiveness will also promote the level of disclosure of enterprises.