Research On Sinopec Social Responsibility Information Disclosure Based On Enterprise Value Enhancement

As an economic organization in the society,enterprises bear certain responsibilities to other players in the market(such as government,suppliers,customers,etc.),employees,and the environment.More and more enterprises choose to disclose the relevant situation in the form of social responsibility information.Petroleum industry as an important energy industry,the disclosure of social responsibility information of listed companies has been drawing extensive attention from the society.Sinopec,as a leading enterprise in China’s petrochemical industry,has continuously published its social responsibility information every year since 2008.Therefore,it is of theoretical and practical significance to analyze Sinopec’s social responsibility information disclosure.This paper first introduces the relevant theories of social responsibility information disclosure and the research status at home and abroad.Then,it analyzes the current situation of Sinopec’s social responsibility information disclosure.In the analysis process,it mainly adopts the combination of case analysis,index analysis and comparative study,starting from the form,content and quality of information disclosure.It is found that Sinopec has problems in its social responsibility information disclosure,such as inadequate disclosure content,inactive disclosure of negative information,lack of industry-related indicators,and report without independent audit by a third party,and the causes of these problems are analyzed internally and externally.This is mainly due to the lack of disclosure awareness and pressure,the fluctuation of enterprise economic benefits,insufficient third-party inspection and expensive information disclosure costs.In addition,this paper confirmed that the disclosure of social responsibility information has a positive impact on corporate value through the event study method,and it is of practical significance to improve the quality level of corporate social responsibility information disclosure.Finally,suggestions on CSR information disclosure of Sinopec are put forward from three perspectives: enterprise,industry and society.By studying the social responsibility information disclosure of Sinopec,this paper hopes to provide some help for enterprises in the petrochemical industry to improve the level of social responsibility information disclosure.