Abstract
Based on the theoretical analysis, this paper empirically analyzes the influence of media attention and other factors on the level of corporate social responsibility disclosure based on the panel data of Chinese A-share listed companies from 2013 to 2017. The results found that: goodwill, core management turnover, and financing constraints all have a significant negative correlation with corporate social responsibility disclosure. Media attention has a significant positive impact on the level of corporate social responsibility disclosure. Market competitive position has no significant impact on corporate social responsibility disclosure. This paper suggests that enterprises should be encouraged to take social responsibility, incorporate disclosure of social responsibility information into corporate culture, further strengthen corporate social responsibility awareness, and improve social responsibility information disclosure mechanism.
Highlights
Corporate social responsibility (CSR) refers to that enterprises create profits and bear legal responsibilities to shareholders and employees, and bear responsibilities to consumers, communities and the environment (Huang et al, 2019)
Based on the theoretical analysis, this paper empirically analyzes the influence of media attention and other factors on the level of corporate social responsibility disclosure based on the panel data of Chinese A-share listed companies from 2013 to 2017
The results show that: 1) goodwill, media attention and market competitive position of enterprises all show a significant positive correlation with the level of corporate social responsibility disclosure, indicating that the higher the corporate goodwill is, the higher the media attention faced by enterprises is, the higher the market competitive position of enterprises is, and the better the level of corporate social responsibility disclosure is. 2) The turnover of core management and the degree of corporate financing constraints are negatively correlated with the level of social responsibility information disclosure, which indicates that the higher the degree of corporate financing constraints is, the lower the level of corporate social responsibility disclosure is
Summary
Corporate social responsibility (CSR) refers to that enterprises create profits and bear legal responsibilities to shareholders and employees, and bear responsibilities to consumers, communities and the environment (Huang et al, 2019). Existing studies have roughly divided the factors that cause the above differences into two categories: external factors and internal factors (Gillan, Koch and Starks, 2021) The former mainly includes media attention (Yu and Chi, 2021), laws and systems (Yuan, 2020), and the latter mainly includes the enterprise’s business scale (Gu, Guo and Wang, 2020), ownership structure (Li and Zhang, 2017), profitability (Nan and Sun, 2020), etc. Our study will try to further enrich the existing results from the above four aspects In addition to this part, the structure of the rest of this paper is as follows: Firstly, from the aspects of goodwill, core management turnover, financing constraints, market competitive position and media attention, this paper analyzes its impact on corporate social responsibility disclosure in theory one by one and puts forward research hypotheses ; Secondly, variable design, data selection and model construction; Again is the measurement test process and results of the research hypothesis; conclusions and recommendations
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