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1、TheCorporateSocialResponsibilityandInformationTransparencyZHANGQian1,YAOLijie2,ZHENGShen31.ChinaPetroleumMaterialsCorporation,China,1000292.SchoolofEconomicsandManagementBeijingJiaotongUniversity,China,1000443.GuangdongExperimentalHighSchool,Guangdong,China,510055Abstract:TheCorporate
2、SocialResponsibility(CSR)andinformationtransparencyisincreasinglyimportantforcompanies.CSRreportenrichescorporateinformationdisclosurewhilereflectingthefirm’ssustainabledevelopmentandcorporaterisklevel.Thisstudydemonstratesthat,withthehigherqualitycorporatesocialresponsibilityreports,
3、thebetterinformationtransparencyaspossible,enablesstakeholderstoreduceinvestmentriskandincreasebusinessconfidence.Theallocationofresourcesbecomesmoreefficientandthemarketizationoftheeconomyisstrengthened.Therefore,companiesneedtoactivelytakesocialresponsibilitiesandtoattachhighimporta
4、ncetothequalityofreportsofdisclosure,therebystrengtheningcorporategovernance,improveenterprisevalues.Keywords:CSR,CSRReportQuality,InformationTransparency1IntroductionWiththedeepeningofmarket-orientedeconomy,corporatesocialresponsibilityandtransparencyofcorporateinformationaremoreandm
5、oreimportantforenterprises.McDonald'sKFCexpiredmeatincident,Sanlumelamineincidentofmilkpowder,Jinhutirerecallcrisis,crisiseventssuchasPetroChina'scrudeoilpipelineexplosioninDalianfrequentlyexposed,theenterpriseshavebeenputintheforefrontofCSRtotorture.Stateandcorporateleaderscometoreal
6、izethatthesimplepursuitofprofitandignoringimplementationofcommunalresponsibilityisnotconducivetothesustainabledevelopmentofenterprises.WeshouldpaygreatattentiontoCSRscientificallyinthelongterm.Therefore,inJanuary2008,thestate-ownedassetssupervisionandadministrationcommissionissued“The
7、guidelinesontheprincipalenterprisestofulfillCSR”.Attheendoftheyear,theShenzhenandShanghaistockexchangeaddedtheconditionallymandatorydisclosureofcorporatesocialresponsibilityoftheenterprisereportingrequirementsnewpolicyinordertourgecompaniestobettermeettheirsocialresponsibilities.Thefr
8、audon
