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企业既可能出于道德动机履行社会责任,也可能“工具性”地利用社会责任来获取经济利益,甚至是掩饰或消除企业不当行为的负面影响。文章基于2009年~2012年自愿披露社会责任报告的中国A股上市公司数据,从盈余管理视角出发,实证考察了企业履行社会责任的动机,并进一步考虑股权性质的影响,结果发现:企业社会责任与盈余管理显著正相关,并且这种正相关性主要存在于民营企业中,说明民营企业更可能“工具性”地利用社会责任来掩饰其对盈余所做的操纵。
Enterprises may fulfill their social responsibilities either by moral motives or by social responsibility using “tools”, or even conceal or eliminate the negative effects of corporate misconduct. Based on the data of China A-share listed companies voluntarily disclosing the social responsibility report from 2009 to 2012, this paper empirically examines the motivation of enterprises to fulfill their social responsibilities from the perspective of earnings management, and further considers the impact of the nature of the ownership. The results show that the corporate social responsibility Is positively correlated with earnings management, and this positive correlation exists mainly in private enterprises, indicating that private enterprises are more likely to use social responsibility to “mask” their operations on surpluses.