社会责任、产权属性与融资约束  

Social Responsibility,Property-rights Attributes and Financial Constraints

作　　者：陈金龙[1] 谢琦君[1] 

机构地区：[1]华侨大学工商管理学院,福建泉州362021

出　　处：《南京审计学院学报》2014年第3期96-103,共8页journal of nanjing audit university

基　　金：教育部人文社科基金项目(12YJA630012);福建省自然科学基金项目(2011J01382)

摘　　要：以2009—2011年沪深两市5427个A股上市公司作为样本,对企业产权、社会责任信息披露与融资约束的关系进行分析,结果显示:企业披露社会责任报告有利于降低企业所面临的融资约束程度;社会责任报告的质量越高,企业所面临的融资约束程度越低;相对于国有企业,非国有企业社会责任报告质量对融资约束的影响更显著。Ttaking the data of 5427 listed companies in Shanghai and Shenzhen Stock Markets from 2009 to 2011 as samples, this paper makes an analysis on the relationship among property rights, social responsibility information and financial constraints. The research findings are listed as follows： Firstly, when company discloses the report about social responsibility, it can reduce the degree of financial constraints. Secondly, to all the companies, the higher the qualities of their social responsibility report are, the greater the effects are. What＇s more, the qualities of the report disclosure for non-state-controlled companies affect financial constraints more apparently than those for state-controlled companies.

关 键 词：融资约束 社会责任信息 信息质量 公司产权 信息披露 社会责任报告 公司财务管理 

分 类 号：F234.4[经济管理—会计学]