海外企业社会责任信息披露研究综述及启示

研究发现，企业进行社会信息披露的外在驱动因素主要有两种：一是来自规章制度和立法的压力；二是来自投资者及其他利益相关者对企业社会责任信息的需求。而企业进行社会责任信息披露的内在影响因素主要有：成本和利益、战略、企业绩效、公司规模、行业属性等。当前国外企业社会责任信息披露实践和理论研究成果主要表现在企业社会责任信息披露能够给企业资本市场行为带来的利益，如较高的股价、较低的股票风险和较低的资本成本，而且，随着投资者对企业社会责任信息需求的增多，投资者关系的内涵也在扩展，与投资者沟通企业社会责任信息已成为国外企业的发展趋势。

Review of Overseas CSR Reports

Studies reveal that legal and administrative pressure as well as demand from investors and other interested parties are the key external driving forces of CSR reports, while the internal driving forces derive from operational cost, corporate interest, strategy, performance result, corporate size and industry attributes. In practice, advantages of CSR reports lie in that it brings about actual benefits for companies, such as better stock price vs lower stock risks and capital cost. With increasing demand for CSR information, connotation of investor relation expands. It has been an international trend for corporations to share with their investors CSR information.