企业社会责任、年报披露及时性与信息解读效率

发布时间：2017-12-28 11:13

本文关键词：企业社会责任、年报披露及时性与信息解读效率　出处：《证券市场导报》2016年01期 　论文类型：期刊论文

【摘要】：已有相关研究对企业社会责任与公司绩效之间的关系做了深入探讨,但少有文献涉及信息披露及时性问题。本文以2009~2013年间披露社会责任报告的A股公司为样本,考察企业社会责任对年报披露及时性以及信息解读效率的影响。结果表明,社会责任表现好的企业,年报披露日期较上一年有明显的提前,说明企业社会责任对年报披露及时性存在正向影响;社会责任履行越好的企业,年报披露引起的市场反应越大,反映投资者对信息解读的效率越高。上述结果验证了企业社会责任的商业伦理观点,研究结论对于促进上市公司提高社会责任意识,完善信息披露具有一定的启示。
[Abstract]:There has been a thorough study of the relationship between corporate social responsibility and corporate performance, but few documents involve information disclosure and timeliness. In this paper, we take A share companies reporting social responsibility reports in 2009~2013 as samples to investigate the impact of CSR on annual disclosure timeliness and information interpretation efficiency. The results show that the performance of social responsibility of enterprises, the annual report disclosure date last year significantly ahead, that timeliness has a positive impact on corporate social responsibility disclosure of the annual report; the better the corporate social responsibility disclosure of the annual report, the market reaction caused by the larger, reflecting investors' interpretation of the higher efficiency of information. The above results verify the business ethics view of corporate social responsibility, and the findings can provide some inspiration for promoting the awareness of social responsibility and improving information disclosure of listed companies.
【作者单位】：上海对外经贸大学金融管理学院;中国人民银行上海总部;
【基金】：国家自然科学基金(71203139) 教育部人文社科基金(12YJC630203) 上海市教委“晨光计划”(12CG64) 上海对外经贸大学“085”工程建设项目的资助
【分类号】：F270;F275
【正文快照】： 引言信息披露是上市公司履行社会责任的重要表现,具有良好社会责任意识的上市公司应该勤勉地履行信息披露义务,保证信息的准确性和及时性,以便投资者做出决策和判断。然而,在新兴的中国股市中,上市公司信息披露进度失衡、滞后现象仍比较明显,年报披露时间“前松后紧”,平均业

【相似文献】