媒体关注下的CSR信息披露与企业财务绩效关系研究及启示——基于我国A股上市公司CSR报告的实证研究

Abstract

Abstract: Nowadays,corporate social responsibility(CSR)and relative infromation disclosure have been hot spots of the public.Using the data on the ranking of Chinese listed firm's CSR reports, which is obtained from an independent institution, the relationship between corporate social responsibility disclosure(CSRD) and corporate financial performance(CFP), and the role played by media exposure, which acts as information distribution medium and the director of "public agenda setting" in the relationship between CSRD and CFP are examined. The results show that the more CSR information is disclosed, the better the CFP will be. However, such relationship is totally mediated by media exposure. This new finding not only enriches and expands the theory framework of CSR and CSRD, but also significantly enlightens business managers who make plan based on principles of strategic CSR during the process of relative strategy development.

Key words: corporate social responsibility(CSR), corporate social responsibility disclosure(CSRD), corporate financial performance(CFP), media exposure(ME), public responsbility awareness

CLC Number:

C939
F272

TAO Wen-jie, JIN Zhan-ming. The Relationship Between Corporate Social Responsibility Disclosure and Corporate Financial Performance under Media Exposure and its Implications：An Empirical Study Based on the CSR Report of Chinese Listed Firms[J]. Chinese Journal of Management Science, 2013, 21(4): 162-170.

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The Relationship Between Corporate Social Responsibility Disclosure and Corporate Financial Performance under Media Exposure and its Implications：An Empirical Study Based on the CSR Report of Chinese Listed Firms

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