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社会责任报告作为管理层主动信息披露手段之一,其披露是否意味着企业能借此在资本市场获得正向效应?本文运用事件研究法,探究所有权性质差异下企业社会责任报告发布对企业提升价值的影响。研究发现,在企业发布社会责任报告日前后,资本市场对民营企业有显著的正向反应,而对国有上市公司,这种反应并不显著。这个发现有利于促进民营企业管理层重视和有效利用企业社会责任报告。
As one of the means of management’s active disclosure of information, does it mean that enterprises can obtain the positive effect in the capital market? This article uses the method of event research to explore the issue of corporate social responsibility Impact. The study found that the capital market had a significant positive response to the private-owned enterprises before and after the CSR report, while the response to the state-owned listed companies was not significant. This discovery is conducive to promoting the management of private enterprises and the importance of effective use of corporate social responsibility reporting.