公司治理影响社会责任信息披露吗?——来自中国上市公司社会责任报告的经验证据

Dose Corporate Governance Affect Social Responsibility Information Disclosure——Empirical Evidence Based on Social Responsibility Reports

笔者以A股上市公司披露的社会责任报告为样本,实证检验了公司治理机制对于社会责任信息披露的影响及其机理。研究发现,公司治理整体上对社会责任信息披露水平有显著正向影响,这种公司治理的总体效果是股权结构治理以及管理层治理两种治理机制作用的叠加。本文为理解我国改善社会责任信息披露提供了新的研究视角和经验证据,同时也为通过完善公司治理来促进社会责任信息披露提供了政策依据。

This paper empirically studies the influence of corporate governance on social responsibility information disclosure by sam- piing 1205 Social Responsibility Reports of listed companies from 2009 and 2011. The empirical evidences indicates that the corporate governance displays a positive effect on the social responsibility information disclosure, and the overall effect of corporate governance consists of the combined influence of ownership structure and management governance mechanisms. The other three governance mecha- nisms does not play significant role. It is proposed that improved corporate governance push social responsibility information disclosure.