Corporate Governance and CSR Disclosures: ——Evidence from the SMEs of ChiNext Board

Abstract

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

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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