企业社会责任报告、印象管理与企业业绩  

Corporate Social Responsibility Report,the Impression Management and Accounting Performance

作　　者：黄艺翔[1] 姚铮[1] 

机构地区：[1]浙江大学管理学院,浙江杭州310058

出　　处：《经济管理》2016年第1期105-115,共11页Business and Management Journal ( BMJ )

摘　　要：本文通过构建企业社会责任报告信息披露影响因素模型,来估计企业在社会责任报告中的印象管理程度,并探究企业在社会责任报告中进行印象管理的动因和带来的市场反应。研究发现,财务业绩是影响上市公司对社会责任报告进行印象管理的重要原因,相比业绩较好的公司,业绩较差的公司其社会责任报告印象管理程度更大,且这一关系在重污染行业公司中更加显著;采用纵向比较模型进行稳健性检验得到一致的结论。进一步检验表明,投资者会受到企业社会责任报告中印象管理成分的干扰,即社会责任报告印象管理程度越大,市场评价越高,且社会责任报告中的印象管理使公司的盈余信息含量更大。The extant literatures use the impression management theory in Social Psychology to study the information disclosure of listed firms. The information disclosed by public firms is an important source for stakeholders to have a clear picture of those public firms. Accordingly, the disclosed information becomes a main way for firms to manage the stakeholders＇ impression toward the firms. And some research has already focused on the impression management in financial report. In recent years, corporate social responsibility （CSR）is popular in the worldwide. Meanwhile, the number of CSR reports is growing rapidly. The CSR reports mainly disclose the non-financial information and qualitative information which is different from financial reports. CSR reports receive a large amount of attention from stakeholders and play an essential role in capital market, which can be a supplement and explanation to financial performance in financial reports. However, there are some serious issues emerging in CSR reports such as the high level of discretion and a low degree of verifiability. And most of the CSR reports lack an independent assurance from third party, which makes the reports susceptible to the quality. Similar to the quality issues in financial reports like earnings management, the quality of CSR reports is also very important, especially for public firms whose CSR reports are essential for stakeholders. At present, a key fac- tor influencing the reliability of CSR reports is the impression management used by firms to improve their images in stakeholders. Some literatures have also pointed out that there are cheap talk and window-dressing in CSR reports which damage the quality of information in CSR reports. The existing literatures provide much empirical evidence for us on impression management arising from ac- counting performance in financial reports. As for the impression management in CSR reports, only a few papers explore the existence and manifestation of impression management. Few literature studies the l

关 键 词：社会责任报告 印象管理 企业业绩 市场反应 

分 类 号：F233[经济管理—会计学]