农业上市公司社会责任会计信息披露评价研究

企业对各利益相关者承担着不同责任,在相应的社会责任会计信息披露中表现出差异。本文从直接利益群体责任、政府责任、弱势与公益群体责任和环境责任四个层面构建社会责任会计信息披露指标体系,以沪深两市的农业上市公司为样本,运用因子分析法和聚类分析法对农业上市公司社会责任会计信息披露水平进行评价。结果表明:除了国家强制履行的政府责任会计信息披露水平普遍比较高外,其他由企业自愿履行的各类社会责任会计信息披露水平都很低,从而导致农业上市公司社会责任会计信息披露总体水平都比较低。     

Corporate Governance Quality and CSR Disclosures

Given the increasing importance attached to both corporate social responsibility (CSR) and corporate governance, this study investigates the association between these two complimentary mechanisms used by companies to enhance relations with stakeholders. Consistent with both legitimacy and stakeholder theory and controlling for industry profile, firm size, stockholder power/dispersion, creditor power/leverage, and economic performance, our analysis of the annual reports for a sample of 222 listed companies suggests that firms providing more CSR information: have better corporate governance ratings; are larger; belong to higher profile industries; and are more highly leveraged. Our findings support the limited prior research suggesting a link between corporate governance quality and CSR disclosure in company annual reports and suggest that, rather than mandating specific disclosures, regulators might be better served focussing on corporate governance quality as a way of increasing CSR disclosures.     

Patterns of social reporting from an Islamic framework and the moral legitimacy factors that influence them

The objective of this study is twofold: to examine the patterns that govern social reporting with reference to an Islamic framework and to identify the moral legitimacy factors that influence them. We select 146 publicly listed Sharia‐compliant companies and classify the disclosures in their annual reports according to an Islamic framework that categorises items as either Required, Expected or Desired to indicate the degree of importance each item carries from an Islamic perspective. Based on this framework, we then analyse moral legitimacy factors, specifically the type of Sharia screening body and the proportion of Muslims in the population, that may influence the prioritisation of the different categories of social reporting. We find that disclosures that fall into the Required category of our framework—especially those that relate to companies’ involvement in “haram” activities (activities not permissible in Islam)—are still few among the companies studied. Our research also reveals that both moral legitimacy factors under investigation influence the three categories of social reporting, although in different ways. This research contributes to the existing literature by empirically examining how organisations prioritise their disclosure of virtues and the moral legitimacy factors that influence that prioritisation.     

企业业绩组合、企业业绩差异与中报披露的时间选择--管理层的组合动机和信息操作行为

本文对中国上市公司中报和年报数据进行假设检验，以考察企业业绩组合、企业业绩差异与中报披露时间选择之间的关系。本文得出的研究结果认为上市公司管理层在中报披露和预约披露中可能存在信息操作，同时由于管理层的组合动机和信息操作行为，扭曲了年报和中报的披露时间安排。本文证实企业业绩组合、企业业绩差异对中报披露的时间选择有显著影响。     

Enhancing CSR disclosure through foreign ownership,foreign board members,and cross-listing: Does it work in Russian context?

This paper examines whether foreign shareholders, foreign board members, and cross-listing, are related to corporate social responsibility (CSR) disclosure in Russia. A sample of 223 Russian listed companies is analyzed for the period 2012–2015. In line with legitimacy theory and agency theory, our empirical results demonstrate that foreign board members and cross-listing help companies to raise their accountability through increased CSR disclosure. At the same time we report that foreign ownership does not enhance CSR disclosure, as the majority of foreign shareholders of Russian companies are registered in offshore domiciles that are used for more efficient tax allocation.     

企业社会责任信息披露与股票价格关系研究——沪市民营企业的经验证据

文章以2009年沪市A股222家民营上市公司为研究样本实证检验了民营企业社会责任信息披露与股票价格的关系,结果表明,民营企业社会责任信息披露与股票价格负相关。结合企业社会责任实践及其信息披露现状、投资者基于企业社会责任的投资理念以及资本市场有效性,从作用机制视角分析了形成民营企业社会责任信息披露与股票价格关系的深层原因,并由此就改进企业社会责任及信息披露实践和促进资本市场健康发展为上市民营企业、资本市场投资者和监管者带来启示。     

Corporate Social Reporting Practice: Evidence from Listed Companies in Bangladesh

This article presents an empirical investigation into the corporate social reporting practices of listed companies from Bangladesh, where corporate social reporting is a matter of voluntary disclosure. Analysis of annual reports published in 2007 reveals that only 15.45% of listed companies made such disclosures. This article presents an extensive survey of the contents, form, nature, and extent of corporate social reporting practices of listed companies. Analysis over a wide range of industries reveals that companies in the banking sector secure the highest rank in terms of corporate social reporting; three fourths of all disclosures are generalized qualitative statements without any attempt at attestation; more than one half of the disclosures are located in the director's report; and the mean amount of disclosures was less than half a page.     

黑龙江省上市公司财务报告透明度现状研究

通过对黑龙江省27家上市公司2004年-2012年期间的241个公司-年度样本进行研究,发现黑龙江省上市公司的财务报告透明度较低,呈逐年下降趋势,多数样本公司存在着较为明显的利用应计项目平滑上市公司会计盈余的行为,导致投资者无法充分了解黑龙江省上市公司真实的财务状况和经营成果,这对提升黑龙江省上市公司的形象极为不利。黑龙江省应完善上市公司的信息披露制度,提高财务报告透明度,以吸引更多投资者。     

Perceptions of Intentional Wrongdoing and Peer Reporting Behavior Among Registered Nurses

Researchers and practitioners have devoted considerable attention to firms' policies regarding discretionary disclosures. Prior studies argue that firms increase demand for their debt and equity issues and, thus, lower their cost of capital, by providing more informative disclosures. However, empirical research has generally not been able to document significant benefits from increased disclosure.This paper proposes an alternative explanation – firms disclose because it is the socially responsible thing to do. We argue that companies have incentives to engage in stakeholder management by undertaking socially responsible activities and that providing extensive and informative disclosures is one such practice.We examine the relationship between firms' disclosures and measures of social responsibility. We use ratings provided by the Council on Economic Priorities as proxies for the degree of social responsibility adopted by the sample firms. Disclosure rankings provided by the annual Association for Investment Management and Research Corporate Information Committee Reports (AIMR Reports) are used to measure disclosure level.Our results indicate that there is a positive relationship between disclosure level and corporate social responsibility. That is, firms that engage in socially responsive activities provide more informative and/or extensive disclosures than do companies that are less focused on advancing social goals. In addition, we find that socially responsible firms are more likely to provide this increased disclosure through better investor relations practices. These results support our contention that increased disclosure is a form of socially responsible behavior.     

责任主体行为规范与提高上市公司会计信息披露质量

成熟而开放的证券市场离不开高水平的会计信息披露。而我国目前会计造假案件层出不穷,充分说明了我国会计信息披露质量令人担忧。通过对上市公司会计信息披露中存在的问题进行分析,将上市公司、中介机构、证券监管机构界定为低质量会计信息披露的责任主体,拟通过规范责任主体的行为来提高上市公司会计信息披露的质量。     

从应收款会计处理看我国上市公司会计信息披露——基于沪市上市公司2004年年报分析

近年来,会计造假案时有发生,会计信息披露的真实性越来越为人们所质疑,我国上市公司年报披露的财务数据正面临着巨大的信任危机。本文选择由赊销行为产生的应收账款为检测点,对沪市A股上市公司2004年年报中披露的应收账款及其他应收款的静态财务数据和动态发展趋势进行分析,针对分析结果提出一些笔者的看法和建议。     

上市公司环境治理的现状与对策

公司环境治理是公司治理的重要组成部分。目前,上市公司环境治理问题主要表现在环境会计信息披露不完善,缺乏强有力的政府干预、市场约束以及非政府组织和公民的监督。改善上市公司环境治理需要培育良好的环境治理的外部社会制度环境,倡导环境责任投资理念,加强利益相关者与公民的参与,完善上市公司环境责任报告。     

Social Reporting by Companies Listed on the Alternative Investment Market

While the existing literature focuses on the disclosure of social information mainly by large companies, this paper concentrates on the disclosure of social information by small- and medium-sized companies (SME) listed on the Alternative Investment Market (AIM) in the U.K. The paper investigates the prevalent view that SMEs are unlikely to report social information due to their financial constraints and the perception that they have very little social conduct on which to report. Our overall evidence illustrates that, contrary to this view, SMEs report social information regardless of their financial constraints, most likely in the same manner as large companies do, because they realise the significance of social reporting in establishing and retaining their corporate reputation.     

企业社会责任报告与会计信息质量——基于深市上市公司的实证研究

本文以2007-2009年深市A股上市公司为样本,以发布独立社会责任报告表明企业具有相对较强的社会责任感为内在假设,检验其社会责任报告的发布是否与会计准则的遵循即高质量的会计信息相关联。结果发现独立社会责任报告的发布与信息的透明度正相关,但与信息的价值相关性和可靠性没有显著联系。可见企业应切实履行基本的社会责任,提供高质量的会计信息满足利益相关者的需要,监管机构也应尽快通过立法来规范对社会责任报告的审计。     

我国上市公司内部治理结构影响自愿披露水平的实证分析

本文以我国上市公司2004年年度报告为研究对象,通过构建自愿披露指数回归模型,从公司内部治理视角实证分析了影响我国上市公司自愿披露水平的相关因素。研究表明,上市公司自愿披露水平与国有股持股比例、董事会持股成员比例、忙碌独立董事比例存在显著负相关关系,而与监事会持股成员比例存在显著正相关关系。     

Corporate social responsibility disclosure in China: Do managerial professional connections and social attention matter?

We examine the effect of managerial professional connections and social attention on corporate social responsibility disclosure. Using a unique sample of Chinese listed firms that includes 7462 firm-year observations from 2009 to 2017, we hypothesize and provide supporting evidence that in emerging markets such as China, firms whose top managers have professional connections are more incentivized to improve corporate social responsibility disclosure. This is particularly the case when firms face significant public and media attention. Additional analysis shows that firms with professional connections tend to be more conservative when choosing accounting policies to maintain their professional reputations. Professional connections bring value to both firms and managers in that professionally connected managers are valued by external investors, have greater job security, and are better compensated. Our results are robust to a series of endogeneity tests and perform well in various robustness tests. Overall, our study suggests that corporate social responsibility decisions are shaped by managerial idiosyncratic characteristics and external institutions.     

Give or Take on the Internet: An Examinationof the Disclosure Practices of Insurance Firm Web Innovators

Theories of corporate social responsibility suggest that there ought to be a balance between what business takes from society and what it gives back in return. Recently, the practice literature within the insurance industry has been heavily pushing for the development of the Internet as a tool for commerce while virtually ignoring the role it could play in terms of information disclosure to stakeholders. This study examines whether insurance firms themselves reflect this emphasis, or whether companies that are industry leaders with respect to web innovation for product marketing are also leaders in using the web for information disclosure. A study of the web pages for 40 property and casualty firms drawn from Franzis (2000), shows that financial disclosure for the overall sample is at best moderate. The disclosure of social responsibility information on these web pages is quite low, on average. Further, and importantly from a social balance perspective, the web innovators in terms of product marketing are not industry leaders in terms of information disclosure.     

Disclosure of Corporate Environmental Policies in Annual Reports: Further Evidence Incorporating a National Ideology–An Australian Study

ABSTRACT

During the last decade, there has been a growing awareness at a community level and, more recently, at a business level of a changing emphasis on the disclosure of environmental performance by Australian public companies. Over the last few years, many studies have been undertaken which have examined the disclosure of environmental information by analyzing public company Annual Reports in Australia. Previously, public companies preferred to prepare Corporate Environmental Policy (CEP) statements for internal use only rather than for external reporting (Tilt, 1997, 2001). However, now these reports appear in the annual reports of Australian public companies. Using content analysis, this study examines a sample of public companies listed on the ASX (Australian Stock Exchange) in 2000 and the reporting nexus between these companies' CEPs and their Annual Reports. The results show that environmentally sensitive companies are disclosing more environmental information than other companies. Emerging from these results, our study shows that companies involved in the survey adopted some disclosure on environmental issues based on the ideological belief in such environmental issues. There are currently only limited requirements for any formal identification or reporting with regard to environmental assets, liabilities or contingencies in Australia. Our research has shown that environmentally sensitive companies provided a significantly greater amount of voluntary positive environmental disclosures than the non-sensitive companies. Based on the results of our research it is fair to say that there is an ideological belief within the Australian public companies and the Accounting profession on environmental reporting issues.     

上市公司信息泄露减少了吗?——基于《上市公司信息披露管理办法》实施前后的比较

运用事件研究法对《上市公司信息披露管理办法》实施前后两年,即2005—2009年深沪两市A股业绩预告利多、高送转和增发三类重大事件信息披露的市场反应进行实证分析,利用内幕交易和信息泄露程度测度上市公司信息披露的公平性,检验了《上市公司信息披露管理办法》的实施效果。结果显示,信息公平披露规则在实施当年的短期内发挥了作用,但总体效果并不明显,信息泄露程度呈先下降后回升的趋势,内幕交易依然存在。为此,应进一步加强信息披露的监管,加大对违规信息披露的处罚力度;在强调公平信息披露的同时,关注上市公司信息披露的及时性;正确处理好资本市场效率与信息披露公平两者之间的关系。