企业社会责任履行异象及其分析  

Analysis of the Anomaly of Corporate Social Responsibility Performance

作　　者：彭韶兵[1] 高洁[1] 王昱升[1] 

机构地区：[1]西南财经大学会计学院

出　　处：《财经科学》2013年第5期46-55,共10页Finance & Economics

基　　金：国家社会科学基金课题(编号:11BGL048)的资助

摘　　要：我国企业社会责任履行情况中普遍存在一种异常现象,许多社会责任年报中表现较好的企业,同时实际存在很多不负责任行为(CSI)。这些企业履行社会责任存在对冲动机,即通过战略性地承担更多的社会责任,披露高质量的社会责任年报来弥补或掩饰其他的CSI。然而,投资者并未充分认识到上述异象。企业的社会责任战略制定越好,社会责任履行越好,以及社会责任信息披露质量越高,市场评价均越高。制定与实施更好的社会责任战略,履行更多的社会责任,披露更高质量的社会责任报告均能减弱市场对其CSI的消极评价。This paper finds a general anomaly among corporate social performance of Chinese Enterprises. Many companies, which exhibit good performance in their corporate social responsibility （CSR） report, also have many socially irresponsible behaviors. We find general support for the hypothesis that companies have hedging motivation to strategically engage in more corporate social responsibility actions and release high - quality CSR report to offset their actions that are perceived as socially irresponsible. In addition, the empiri- cal results show that the better companies perform on CSR, the more they gain on the stock market. If corn- patties which invest in CSR also get involved in socially irresponsible activities, the negative corporate social actions will not influence market evaluation of positive social actions, On contrary, the negative market eval- uation of negative social actions, will be oositivelv moderated by oositive comorate social actions.

关 键 词：企业社会责任 不负责任行为 异象 对冲动机 

分 类 号：F270[经济管理—企业管理]