企业社会责任信息质量与业绩操纵——基于沪深A股上市公司年报的文本分析  

Corporate Social Responsibility Information Quality and Performance Manipulation——A Text Analysis Based on the Annual Reports of A-share Listed Companies in Shanghai and Shenzhen

作　　者：宋岩[1] 李帅 张鲁光[1] Yan Song;Shuai Li;Luguang Zhang

机构地区：[1]烟台大学经济管理学院,烟台市264005

出　　处：《产业经济评论（山东）》2020年第2期124-141,共18页Review of Industrial Economics

基　　金：山东省社科规划重点项目“基于投资者情绪和高管背景的企业社会责任内在机制研究”(18BGLJ04)的资助

摘　　要：以2013~2018年A股上市公司年报为样本,利用文本分析及数据抓取方法,通过构建社会责任关键词表,借助Python程序对年报中企业社会责任关键词的相关词频进行提取和分析,结合行为财务理论和利益相关者理论,研究企业社会责任信息披露质量与盈余管理之间的关系。研究发现:企业对社会责任信息披露越加重视,其应计、真实盈余管理的程度越低,而且公司会减少两种方向一致的盈余管理来调整利润,这表明企业重视社会责任信息披露在一定程度上反映了企业的道德意识,企业会更加重视利益相关方的利益以及自身的长期发展,这也从侧面表明企业的信息披露行为更加透明有效。此研究结果丰富了对企业信息披露的文本分析以及企业社会责任与盈余管理之间的相关研究。This paper based on the 2013-2018 A-share listed-companies annual reports as sample,using the method of text analysis,build the social responsibility of keywords list,with the aid of Python program to extract and analyze enterprise in its annual report on the importance of social responsibility,combined with the behavioral finance theory and principal-agent theory,discusses the relationship between the corporate social responsibility and earnings management behavior.The results show that:enterprise to the social responsibility information disclosure more seriously,its accrual,the lower level of real earnings management,and the company will reduce both in the same direction of earnings management to adjust the profit,this shows that the enterprise attaches great importance to the social responsibility information disclosure to a certain extent,reflects the moral consciousness of the enterprise,the enterprise will pay more attention to their own long-term development and the interests of stakeholders,this also shows that the enterprise from the side of a more transparent and effective information disclosure behavior.This research results enrich the text analysis of corporate information disclosure and corporate social responsibility and earnings management.

关 键 词：企业社会责任 盈余管理 文本分析 信息披露 

分 类 号：F275[经济管理—企业管理] F270[经济管理—国民经济]