再融资需求与企业社会责任报告印象管理--基于媒体关注的调节效应

Refinancing Needs and the Impression Management of the Corporate Social Responsibility Report:Moderating Effects Based on Media Attention

以2010—2020年沪深A股发布的社会责任报告中的上市企业为研究对象,实证检验了企业再融资需求对社会责任报告印象管理产生的影响,并进一步探究了媒体关注对二者关系的调节作用。研究结果表明,企业再融资需求对社会责任报告印象管理有显著的正向影响,并且此影响在非国有企业中会更加显著;媒体关注会强化再融资需求对社会责任报告印象管理程度的正向影响,一定程度上证实了媒体关注的市场压力假设。

Taking as the research object the listed companies in the social responsibility report issued by Shanghai and Shenzhen A shares from 2010 to 2020,an empirical test has been carried out of the impact of corporate refinancing needs on the impression management of the social responsibility report,followed by a further exploration into the moderating effects of media attention on the relationship between the two.The research results show that corporate refinancing needs have a significant positive impact on the impression management of the social responsibility report,with a more significant impact on non-state-owned enterprises.Media attention helps to strengthen the positive impact of refinancing needs on the impression management degree of the social responsibility report,which to some extent confirms the market pressure assumption of media attention.