Research On Social Responsibility Information Disclosure And Economic Consequences Under We Media

In recent years,official micro-blog,WeChat official account and other media platforms have changed the way of information dissemination from the media platform with simple,equal,efficient and quick self media characteristics,widened the channels of information disclosure,and greatly reduced the information acquisition cost of investors in the capital market,and gradually become an important channel for issuing and transmitting social responsibility information.However,at present,both domestic and foreign regulators and listed companies have not formed a unified standard for accounting information disclosure of we media,and there are great differences in the content,form and interaction of information disclosure of we media.On the basis of theoretical analysis,combined with cases,this paper will analyze the status and impact of self media information disclosure of Listed Companies in China,so as to provide reference and reference for regulators to formulate policies and norms,enterprises to publish self media accounting information and investors to use self media accounting information.Firstly,this paper makes an overall analysis of the self media accounting information disclosure level of food manufacturing companies in Shanghai and Shenzhen.At the same time,Yili shares and beinmei are selected as control cases for research.All the information disclosed by Yili shares in we media and all the occasional information disclosed by beinmei in traditional media in the three years from 2018 to 2020 are counted in detail,and the characteristics of social responsibility information push content,disclosure form,update frequency and so on are analyzed,It is found that the self media platform of the company represented by Yili shares has received a high degree of attention.We can regularly use the self media to disclose accounting information and interact with investors with the help of the self media platform to provide investors with more incremental information,so as to enhance investors’ investment confidence.At the same time,this paper also studies the relationship between social responsibility information disclosure and financial performance,market response and non-financial performance.In addition,the study also found that although Yili shares and bainmei have their own characteristics in social responsibility information disclosure compared with other companies in the same industry,there are also some problems,such as the lack of disclosure of key public issues and quantitative data support.Finally,this paper also puts forward some suggestions on the existing problems,such as the company should improve the disclosure system,standardize the disclosure contents,optimize the disclosure ways,the government departments should issue corresponding laws and regulations,encourage disclosure,correctly guide,and strengthen the management of we media platform.