公司治理与企业社会责任披露——基于创业板的中小企业研究

摘要/Abstract

摘要：

以创业板153家中小企业为研究样本，通过对企业年报、企业社会责任报告和公司网站的内容分析构建了企业社会责任披露指数，探索我国中小企业公司治理与企业社会责任披露之间的关系，并且结合我国的中小企业的特点，在研究框架中引入了政治关联。实证结果显示：管理层持股对企业社会责任披露有负面影响；外资持股、董事长具有政治关联对企业社会责任披露有正面影响，并且董事长兼任总经理会加强董事长的政治关联对企业社会责任披露的影响；然而，公共持股、董事会独立性和董事会的政治关联强度对企业社会责任披露没有显著影响。最后，结合相关结论，提出促进中小企业加强社会责任披露的建议。

关键词: 公司治理, 企业社会责任披露, 中小企业, 政治关联

Abstract:

Based on the data of 153 SMEs of Shenzhen ChiNext Board, this paper builds CSR Disclosures Index (CSRDI) by analyzing annual reports, CSR reports and the content of corporate websites and exploring the relationship between corporate governance and the extent of CSR disclosures. Meanwhile, this paper adds the political connection into the research framework according to the realistic characteristics of Chinese SMEs. The empirical results show that CSR disclosures have a negative association with managerial ownership, foreign ownership and Chairman with political connection have positive significant impacts on CSR disclosures and CEO duality strengthens the relationship between Chairman with political connection and CSR disclosures. However, this paper fails to find any significant impact of public ownership, board independence and the extent of board political connection. Finally, this paper provides some suggestions for promoting the CSR of SMEs based on the results.

Key words: corporate governance, CSR disclosures, SMEs, political connection

秦续忠, 王宗水, 赵红. 公司治理与企业社会责任披露——基于创业板的中小企业研究[J]. , 2018, 30(3): 188-200.

Qin Xuzhong, Wang Zongshui, Zhao Hong. Corporate Governance and CSR Disclosures: ——Evidence from the SMEs of ChiNext Board[J]. , 2018, 30(3): 188-200.

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