企业社会责任与信息透明度实证研究.docVIP

The Corporate Social Responsibility and Information Transparency ZHANG Qian1, YAO Lijie2, ZHENG Shen3 1. China Petroleum Materials Corporation, China, 100029 2. School of Economics and Management Beijing Jiaotong University, China, 100044 3. Guangdong Experimental High School, Guangdong, China, 510055 Abstract: The Corporate Social Responsibility (CSR) and information transparency is increasingly important for companies. CSR report enriches corporate information disclosure while reflecting the firm’s sustainable development and corporate risk level. This study demonstrates that, with the higher quality corporate social responsibility reports, the better information transparency as possible, enables stakeholders to reduce investment risk and increase business confidence. The allocation of resources becomes more efficient and the marketization of the economy is strengthened. Therefore, companies need to actively take social responsibilities and to attach high importance to the quality of reports of disclosure, thereby strengthening corporate governance, improve enterprise values. Key words: CSR, CSR Report Quality, Information Transparency 1 Introduction With the deepening of market-oriented economy, corporate social responsibility and transparency of corporate information are more and more important for enterprises. McDonalds KFC expired meat incident, Sanlu melamine incident of milk powder, Jinhu tire recall crisis, crisis events such as PetroChinas crude oil pipeline explosion in Dalian frequently exposed, the enterprises have been put in the forefront of CSR to torture. State and corporate leaders come to realize that the simple pursuit of profit and ignoring implementation of communal responsibility is not conducive to the sustainable development of enterprises. We should pay great attention to CSR scientifically in the long term. Therefore, in January 2008, the state-owned assets supervision and administration commission issued “The guidelines on the principal e