股权结构特征对社会责任信息披露 质量的影响研究 ——基于我国家族上市公司的数据分析

论文以我国家族控股型上市公司2011-2014 年符合条件的556 家数据为样本，按照家族 控股型上市公司股权结构特征变量：股权集中度、股权制衡度、两权分离度、管理层持股比例等 四个变量考察其对社会责任信息披露质量的影响为研究逻辑进行了实证分析。研究结论表明与一 般意义上的公众上市公司相比，股权集中度高的家族控股型上市公司，其社会责任信息披露质量 更低；股权制衡度水平越高的家族控股型上市公司，其社会责任信息披露质量水平更高；两权分 离度高的家族上市公司，其社会责任信息披露质量更低；管理层持股比例对社会责任信息披露质 量的影响不显著。

Research on the Impact of Ownership Structure Characteristics on the Quality of Social Responsibility Information Disclosure: Based on the Data Analysis of Fammily Listed Companies In China

This study is based on the sample of 556 data of Family Controlled Listed Companies in our country. According to family controlling listed company equity structure characteristic variable: Equity concentration, equity balance, separation of the two rights, the proportion of management shareholding and other four variables to study the impact of the quality of social responsibility information disclosure for the study of the logic of empirical analysis. The research conclusion shows that compared with the general public companies, the family holding listed companies with a high degree of ownership concentration, the quality of social responsibility information disclosure is lower. The higher degree of ownership balance of family holding listed companies, the higher level of social responsibility information disclosure quality. The family listed company with a high degree of separation of two rights, the quality of social responsibility information disclosure is lower, and the influence of management shareholding ratio on the quality of social responsibility information disclosure is not significant. The influence of management shareholding proportion on the quality of social responsibility information disclosure is not significant.