多个大股东治理与企业社会责任  

The Governance of Multiple Major Shareholders and Corporate Social Responsibility

作　　者：赵国宇 魏帅军 ZHAO Guoyu;WEI Shuaijun(School of Accounting,Guangdong University of Finance and Economics,Guangzhou 510320,China)

机构地区：[1]广东财经大学会计学院,广东广州510320

出　　处：《经济与管理评论》2021年第5期150-160,共11页Review of Economy and Management

基　　金：国家社会科学基金项目“掏空动机下大股东与高管合谋的形成机理及预警机制研究”(15BGL064);广东省软科学项目“报酬契约、高管合谋与大股东掏空”(2017ZC0218)。

摘　　要：多个大股东治理可能对企业社会责任产生重要影响。以2011-2018年中国A股上市公司为研究样本,检验多个大股东治理对企业社会责任的影响机理及作用结果。研究发现,存在多个大股东的企业,其社会责任表现更好;其他大股东持股比例越高,其社会责任表现越好。此外,企业社会责任表现与企业自愿性信息披露的积极性呈正相关关系。上市公司积极承担社会责任有助于树立良好的公众形象,政府也应通过制定详细披露指引,鼓励上市公司自愿积极披露,并提高披露的规范性。The governance structure of multiple large shareholders may have an important impact on corporate social responsibility.Taking 2011-2018 China's A-share listed companies as research samples,this paper examines the influencing mechanism and results of multiple major shareholders'governance on corporate social responsibility.The results show:corporate social responsibility performance is better with multiple major shareholders;the higher the proportion of other major shareholders,the better the performance of social responsibility.In addition,the performance of corporate social responsibility is positively correlated with the enthusiasm of voluntary information disclosure.Taking social responsibilities actively is conducive to improve listed companies'public reputation,and the government should encourage listed companies to voluntarily and actively disclose and improve the standardization of disclosure by formulating detailed disclosure guidelines.

关 键 词：多个大股东 企业社会责任 股权制衡 自愿披露 监督效应 

分 类 号：F279.23[经济管理—企业管理]