管理层持股与市场化程度对企业社会责任信息披露质量的影响

Research on the Impact of Management Shareholding and Marketization on the Quality of Corporate Social Responsibility Information Disclosure

以2008-2016年披露社会责任报告的全部A股上市公司为研究对象,对企业社会责任信息披露质量的影响因素进行研究。实证结果发现:管理层持股比例、市场化程度对企业社会责任信息披露质量具有正向影响;市场化程度对其二者之间的关系有调节作用,市场化程度越高,管理层持股比例对企业社会责任信息披露质量的影响越显著。将宏、微观因素结合对此问题进行研究,不仅对我国制定相关经济政策具有理论意义,而且有助于企业从内部关键因素入手优化社会责任信息披露质量。

This paper takes all A-share listed companies that disclose social responsibility reports from 2008 to 2016 as the research object,and studies the factors affecting the quality of corporate social responsibility information disclosure.Through empirical results,it is found that the management shareholding ratio and marketization degree have a positive impact on the quality of corporate social responsibility information disclosure;the degree of marketization has a regulatory effect on the relationship between the two,that is,the higher the degree of marketization,the influence of shareholding ratio on the quality of corporate social responsibility information disclosure is more significant.Combining macro and micro factors to study this issue will not only have theoretical significance for our country to formulate related economic policies,but also help companies optimize the quality of social responsibility information disclosure from internal key factors.