摘要
以我国2009—2013年度沪深A股上市公司为样本,将百度新闻指数作为媒体关注的代理指标,分别从披露意愿和披露水平两个层面衡量自愿性社会责任信息披露的积极性,检验了融资约束对企业自愿性信息披露行为的影响,探讨了媒体关注在其中的作用机理。研究发现,融资约束程度高的公司不愿意发布社会责任信息,而媒体关注能够提升其自愿披露的积极性。
Taking Shanghai and Shenzhen A- share listed companies as samples for the period 2009- 2013,this paper taking Baidu news index as a proxy indicator of media attention,measure enthusiasm of disclosuring voluntary social responsibility information respectively from two levels disclosure will and disclosure level. It empirically test the influence of financing constraints on voluntary disclosure of the corporate social responsibility information and investigate the mechanism of media attention on them. The conclusion of this paper shows that the will of voluntary information disclosure of the companies faced with financing constraints are universally low,and media coverage could increase the motivation of information disclosure.
出处
《武汉理工大学学报(信息与管理工程版)》
CAS
2016年第3期309-314,共6页
Journal of Wuhan University of Technology:Information & Management Engineering
基金
湖北省统计局科研计划基金项目(ETK15-56)
关键词
融资约束
媒体关注
企业自愿性社会责任信息披露
financing constraints
media coverage
voluntary corporate social responsibility information disclosure