上市公司社会责任报告自愿披露的动机——以所有权性质为背景的经验分析  

The Motivation for the Voluntary Disclosure of Listed Companies' Social Responsibility Reports the Empirical Analysis on the Basis of Ownership Nature

作　　者：张正勇[1,2] 吉利[3] 毛洪涛[3] 

机构地区：[1]南京财经大学会计学院,江苏南京210046 [2]南京大学商学院,江苏南京210093 [3]西南财经大学会计学院,四川成都611130

出　　处：《证券市场导报》2014年第7期21-27,共7页Securities Market Herald

基　　金：教育部人文社科青年基金"企业社会责任报告决策价值及其作用机理研究"(12YJCZH297);江苏高校哲学社会科学基金"企业社会责任信息披露的决策机制研究"(2013SJD790008);中国博士后基金(2013M531334);江苏高校优势学科建设工程资助项目(PAPD)资助]

摘　　要：以A股上市公司在2007-2012年社会责任报告自愿披露中的表现为分析对象，本文考察了公司社会责任报告披露的动机。研究发现，媒体曝光度、行业敏感度对社会责任报告披露行为有显著的正向影响，这说明来自合规管理的可能压力明显提高了上市公司披露社会责任报告的可能性；考虑到广告、再融资需求、产品市场竞争等经济性动机，这种影响在非国有控股上市公司中表现更加显著。但是，针对社会责任报告信息披露水平回归分析发现，无论是国有还是非国有控股公司，上述关于社会责任报告披露动机的各类显著影响都不再存在。本文研究结论表明产权性质是影响上市公司社会责任报告披露动机的一个重要因素，对政府和监管部门而言，还可以作为制定相关政策的参考。Taking the behavior of China＇s listed companies＇ voluntary disclosure in the corporate responsibility reports （CSRR） as the object of our analysis, we mainly explored the motivation of the CSRR voluntary disclosure in China＇s listed companies. The results show that the close attention given by the media and the industry sensitive have noticeable positive effect on listed companies＇ CSRR voluntary disclosure. It is also shown that the possible pressure from the legitimacy management has obviously increased the possibility of CSRR voluntary disclosure in listed companies, owing to the consideration of the economics motives such as the advertising, refinancing and product market competition, and this positive impact has been expressed more markedly in non-state owned listed companies. However, by the regression analysis of the voluntary disclosure samples, we found that the above-mentioned various noticeable impacts of the motivation of the CSRR voluntary disclosure did not exist any longer. The significance of this paper is to provide the new perspective that the ownership property must be taken into account, when the corporate social responsibility information disclosure is considered. Meanwhile, this paper is helpful for the government to establish the proper standards of CSR information disclosure in China.

关 键 词：社会责任报告 自愿披露 合法性动机 经济性动机 产权性质 

分 类 号：F276[经济管理—企业管理]