社会责任偏重度、产权性质与盈余管理——道德行为还是机会主义?

Emphasis Degree of Corporate Social Responsibility, Nature of Property Rights and Earnings Management ——Ethical Behavior or Opportunism Motivation

本文选取2011~2017年沪深两市A股上市公司为研究对象,从企业履行社会责任动机视角出发,研究社会责任履行与盈余管理间的相互关系。研究发现:(1)我国现阶段社会责任履行越好的企业,盈余管理的程度越高,即支持了企业承担社会责任的“机会主义动机”观点。(2)相较于偏重履行基础社会责任的企业,偏重履行高层次社会责任的企业承担社会责任的机会主义动机更强。(3)相比于国有企业而言,非国有企业承担社会责任的机会主义动机更强,承担社会责任的掩饰作用更加明显。本文还进一步发现国有企业中无论是偏重基础社会责任还是偏重高层次社会责任的企业均没有表现出明显的机会主义动机,而在非国有企业中,偏重承担高层次社会责任的企业较偏重承担基础社会责任的企业履行社会责任的机会主义动机更强。

Using the samples of listed companies in China’s stock market in 2011~2017,this paper examines the correlation between corporate social responsibility and earnings management.This paper verifies that,firstly,better performance of social responsibility is accompanied with the higher degree of earnings management,which supports the view of“opportunistic motivation”for enterprises to undertake social responsibility.Secondly,compared to basic responsibility oriented companies,the opportunism motivation is stronger in high-level responsibility oriented companies.Thirdly,compared to state-owned enterprises,the opportunism motivation and concealment of social responsibility is more obvious in non-state-owned enterprises.Furthermore,this paper suggests that neither basic responsibility oriented nor high-level responsibility oriented companies show the opportunism motivation obviously in state-owned enterprises.Otherwise,in non-state-owned enterprises,high-level responsibility oriented enterprises fulfill social responsibility with a stronger opportunism motivation.