企业社会责任报告自愿性披露、分析师跟踪与财务绩效  

Voluntary Disclosure of Corporate Social Responsibility Reports,Analyst Tracking and Financial Performance

作　　者：万珂 Wan Ke(School of Accounting,Zhongnan University of Economics and Law,Wuhan 430073,China)

机构地区：[1]中南财经政法大学会计学院

出　　处：《中南财经政法大学研究生学报》2019年第3期75-82,共8页Journal of the Postgraduate of Zhongnan University of Economics and Law

摘　　要：以2011-2017年中国A股上市公司的数据为样本,实证研究企业社会责任报告的自愿性披露行为对分析师跟踪行为产生的影响,并且进一步探究影响企业自愿性披露行为的因素。研究表明,相较于应规披露社会责任报告的企业,自愿性披露社会责任报告的企业会吸引更多分析师的跟踪关注,并且其财务绩效表现相对较差。另一方面,由于更多分析师对企业进行跟踪关注,会对企业下期财务表现产生正向影响。研究结果说明,企业在财务绩效表现并不良好的情况下,会自愿发布社会责任报告来吸引更多的分析师关注,并且向市场传递企业履行社会责任的信息,以得到市场正向的回应,改善企业后期的财务绩效。Taking the data of Chinese a-share listed companies from 2011 to 2017 as samples,this paper empirically studies the relationship between the voluntary disclosure behavior of corporate social responsibility report and analyst tracking,and further explores the factors affecting the voluntary disclosure behavior of enterprises.The study found that voluntary disclosure companies are more attractive to analysts and their financial performance is relatively poor compared to companies that disclose social responsibility reports.On the other hand,as more analysts follow the companies,it will have a positive impact on the companies’ next financial performance.The research results show that when the financial performance of the companies is not good,they will be more willing to voluntarily disclosure the social responsibility report to attract more analysts’ attention and pass the information to the market,in order to get a positive response and then improve the financial performance.

关 键 词：社会责任报告 自愿性披露 分析师跟踪 财务绩效 

分 类 号：F231.5[经济管理—会计学]