本文選題：社會(huì)責(zé)任信息披露 + 媒體報(bào)道��； 參考：《經(jīng)濟(jì)管理》2017年04期

【摘要】：本文采用實(shí)驗(yàn)研究方法,以國(guó)內(nèi)某重點(diǎn)大學(xué)管理學(xué)院MBA學(xué)生為投資行為被試對(duì)象,設(shè)定不同情境,旨在檢驗(yàn)企業(yè)將履行社會(huì)責(zé)任作為"持續(xù)健康發(fā)展的戰(zhàn)略舉措"或"彌補(bǔ)負(fù)面影響的機(jī)會(huì)主義行為"時(shí),社會(huì)責(zé)任信息披露的投資決策相關(guān)性影響,并通過三步回歸方法構(gòu)建中介模型進(jìn)一步探討媒體報(bào)道性質(zhì)對(duì)企業(yè)社會(huì)責(zé)任信息披露水平與個(gè)體投資者投資決策調(diào)節(jié)作用的具體路徑。實(shí)驗(yàn)結(jié)果表明,企業(yè)社會(huì)責(zé)任信息披露水平本身并沒有過多的信息含量,不會(huì)對(duì)個(gè)體投資者投資的可能性產(chǎn)生顯著的作用;企業(yè)社會(huì)責(zé)任信息披露水平對(duì)投資可能性的作用取決于媒體報(bào)道的性質(zhì),當(dāng)媒體報(bào)道為正面時(shí),企業(yè)社會(huì)責(zé)任信息披露越詳細(xì),投資者的投資可能性越高;當(dāng)媒體報(bào)道為負(fù)面時(shí),企業(yè)社會(huì)責(zé)任信息披露越詳細(xì),投資者的投資可能性反而越低。進(jìn)一步研究發(fā)現(xiàn),投資者感知的管理層信任度在媒體報(bào)道性質(zhì)對(duì)投資可能性之間起到中介作用。上述結(jié)果表明,企業(yè)推行社會(huì)責(zé)任可能存在"兩面性",如果企業(yè)的可持續(xù)戰(zhàn)略涵蓋了社會(huì)責(zé)任的履行,則企業(yè)這類信息的披露能夠提升市場(chǎng)上的個(gè)體投資者對(duì)該公司未來價(jià)值的判斷水平,進(jìn)而增加他們投資的可能性;但如果企業(yè)管理層為了私利而機(jī)會(huì)主義地利用社會(huì)責(zé)任,那么最終無(wú)疑會(huì)損害企業(yè)的利益。該研究結(jié)論不僅深化和拓展了企業(yè)社會(huì)責(zé)任領(lǐng)域和媒體報(bào)道領(lǐng)域的研究成果,而且也為相關(guān)監(jiān)管制度的建設(shè)和規(guī)范提供了重要的經(jīng)驗(yàn)證據(jù)。
[Abstract]:In this paper, using the experimental research method, taking the MBA students of a key university in China as the subjects of investment behavior, we set up different situations. The purpose of this study is to test the relevance of investment decisions in the disclosure of social responsibility information when companies consider fulfilling social responsibility as a "strategic measure of sustainable and healthy development" or "opportunistic behavior to compensate for negative impacts." And through the three-step regression method to construct the intermediary model to further discuss the media report nature to the corporate social responsibility information disclosure level and individual investor investment decision adjustment function concrete path. The experimental results show that the level of corporate social responsibility information disclosure itself does not have too much information content and will not have a significant effect on the possibility of individual investors' investment. The effect of corporate social responsibility information disclosure level on investment possibility depends on the nature of media report. When the media report is positive, the more detailed the corporate social responsibility information disclosure, the higher the investment possibility of investors; When media reports are negative, the more detailed disclosure of CSR information, the less likely investors are to invest. Further studies show that investor perceived management trust plays an intermediary role between media coverage and investment possibilities. The above results suggest that there may be "two sides" in corporate social responsibility, if the corporate sustainable strategy covers the implementation of social responsibility, The disclosure of such information in a business can enhance the judgment of individual investors in the market on the future value of the company, thereby increasing the likelihood of their investment; but if the management of the company opportunistically takes advantage of social responsibility for the sake of self-interest, Then ultimately will undoubtedly harm the interests of the enterprise. This conclusion not only deepens and expands the research results in the field of corporate social responsibility and media reporting, but also provides important empirical evidence for the construction and standardization of relevant regulatory systems.
【作者單位】： 廈門大學(xué)管理學(xué)院;羅瑞爾大學(xué)商學(xué)院;
【基金】：國(guó)家自然科學(xué)基金項(xiàng)目“眼動(dòng)跟蹤技術(shù)在會(huì)計(jì)信息系統(tǒng)設(shè)計(jì)中的應(yīng)用”(71672162) 廈門大學(xué)中央高�；究蒲袠I(yè)務(wù)費(fèi)項(xiàng)目“社會(huì)規(guī)范、財(cái)務(wù)報(bào)告質(zhì)量與公司資本配置效率”(20720161007)
【分類號(hào)】：F270;F275;G206

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本文編號(hào)：2004155