上市公司社会责任会计信息披露的实证研究

An Empirical Study of the Social Responsibility Accounting Information Disclosure of Listed Companies and Corporate Value

运用规范研究与实证研究相结合的方法,分析公司社会责任会计信息披露与公司价值之间的相关性。结果表明:公司对国家的贡献率、公司对员工的贡献率与公司价值显著线性正相关;公司对投资者的贡献率、公司对社会的贡献率以及公司对汶川地震灾区的贡献率与公司价值的线性正相关性不显著。通过实证分析,说明公司注重对国家、员工的贡献与提升公司价值之间所具有的明显正相关性;而公司对投资者、社会的贡献没有受到上市公司的重视,公司对投资者的贡献信息、对社会的贡献信息无法完全通过资本市场反映出来,进而提升公司的价值。

This paper explores the relationship between social responsibility accounting information disclosure of Chinese listed compa nies and corporate value. The authors use the method combining normative study with empirical study, analyze the correlation be tween the disclosure of social responsibility accounting information and corporate value, reach conclusion that national contribution rate and staff contribution rate are linearly correlated to corporate value positively and significantly, while investor contribution rate, society contribution rate and Wenchuan contribution rate do not significantly linearly correlate to corporate value. Meanwhile, the empirical study shows that companies pay attention to the apparent positive correlation between the company contribution to nation or to staff and lifting corporate value, while the company contribution to investor and society have not been taken seriously by Chinese listed companies. And the contribution information of investor and society which could also lift corporate value can not reflect completely through capital market.