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Corporate social disclosure, corporate governance, and firm financial performance : evidence from China

English Abstract

Most prior studies have examined the determinants of corporate social disclosure in developed countries. However, relatively less attention was paid to emerging countries in the aspect of corporate social disclosure. By using multiple linear regressions, this study examines the impacts of firm size, firm financial performance and corporate governance on the quality of corporate social responsibility (CSR) reports provided by publicly-listed companies in Shanghai and Shenzhen Stock Exchange in China. Five variables are used for corporate governance, they are: 1) managerial ownership; 2) concentration of ownership; 3) independent directors on the board; 4) CEO duality, and; 5) types of external auditors. The results indicate that larger firms are more likely to produce higher quality CSR reports than medium and small firms. Better performing firms are associated with higher quality of CSR disclosure. In addition, the results show that ownership concentration and types of external auditors are positively related to the quality of CSR disclosure. For the managerial ownership, it has a significant negative association with the quality of CSR disclosure, where the quality of CSR disclosure is measured by the macrocosm score of CSR reports obtained from RLCCW (2009). These findings contribute to a better understanding of CSR disclosure behavior of listed firms in China.

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Tong, Ka Man


Faculty of Business Administration


Department of Accounting and Information Management


M. Sc.


Social responsibility of business -- China

Corporate governance -- China

Industrial management -- China


Yuen Chun Yip

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