| Summary: | 碩士 === 輔仁大學 === 會計學系碩士班 === 105 === Since 2008, the global financial turmoil, corporate fraud, food safety and product management issues, staff protests, environmental pollution incidents, and global warming phenomenon have had a significant impact on social economy and corporate employees, triggering investor concerns over corporate social responsibility (CSR). In pursuit of the goal to maximize shareholders' profit, the enterprises also have to take responsibility for the society and the environment as they are expected to implement civic responsibility in the enterprises while maintaining competitive advantage and sustainable development. In view of the fact that improving information transparency has always been one of the mechanisms for alleviating information asymmetry between management and investors and an important aspect for observing corporate governance. The study is mainly aimed to investigate if the disclosure of CSR performance and non-financial information will enhance the company's information transparency.
The purpose of this study is to investigate the impact of CSR reporting on the transparency of information. As companies collaborate with governmental authorities to disclose the transparency of laws and regulations and issue corporate social responsibility reports, the companies are disclosing more non-financial information and to help reduce information asymmetric situation and avoid the adverse selection risk, so as to ensure the rights and interests of the investors. The samples of the study were selected from publicly traded and listed companies between 2007 and 2015. Information disclosure assessments and corporate governance appraisal results have been published on the websites of the Taiwan Stock Exchange and the Securities and Futures Development Foundation, and have been used in the study as information transparency variables. It is expected that the companies which issue corporate social responsibility reports will surely have better information transparency.
The empirical results show that the issuance of CSR reports is significantly and positively related to the transparency of information, indicating that companies with CSR reports voluntarily disclose more non-financial messages and mitigate the information asymmetry. Then the types of disclosure are divided into voluntary and mandatory norms, and the study has also found that the enterprises with voluntary CSR reports obviously have better information transparency relatively.
|
|---|
