企業社會責任與盈餘品質之關聯性－以中國企業為實證

The association between corporate social responsibility and earnings quality: Evidence from China

劉家妏(Chia-Wen Liu)

指導教授 ： 孔繁華

淡江大學/商管學院/會計學系碩士班/碩士(2013年)

https://doi.org/10.6846/TKU.2013.00958

摘要

本研究主要探討在中國政府積極推動企業社會責任之下，中國上市公司從事企業社會責任活動是否會提升其盈餘品質。然而，基於中國政府對資本市場發展的嚴重干預、會計監管機制的獨特性，提供了本文絕佳實證環境，得以探討企業履行社會責任與盈餘品質之關聯性。本文以2007年至2009年中國上市公司為樣本，企業社會責任係採用上海國家會計學院(SNAI)社會責任評分，盈餘品質則以應計項目盈餘管理、實質活動盈餘管理以及盈餘穩健性加以衡量。本研究針對盈餘穩健性除運用Basu (1997)模型外，更以Ball and Shivakumar (2005)模型和Khan and Watts (2009)所提出的C_Score來衡量盈餘穩健的程度。實證結果發現，中國企業社會責任與應計項目和實質活動盈餘管理皆呈負向關係，與盈餘穩健性則呈正向關係，亦即中國上市公司企業社會責任之履行有助於盈餘品質的提升。本文更進一步針對國有企業檢視其企業社會責任與盈餘品質之關聯性，實證結果發現，國有企業社會責任之履行與應計項目和實質活動盈餘管理皆呈正向關係，與盈餘穩健性則呈負向關係，亦即國有企業履行企業社會責任會降低其盈餘品質。

關鍵字

中國企業社會責任 ； 盈餘管理 ； 盈餘穩健性 ； 盈餘品質

並列摘要

The study investigates whether earnings quality will increase with the extent of corporate social responsibility engaged by the listed firms in China.However based on the Chinese government serious intervention on the development of the capital market, and the unique nature of the accounting regulatory mechanisms that provide the study excellent empirical environment. Be able to explore the association between corporate social responsibility and earnings quality, the study uses Chinese firms listed on the Shanghai and Shenzhen Stock Exchanges between 2007 to 2009 as the research sample, adopts Shanghai National Accounting Institute (SNAI) established social responsibility ratings. In addition, the study measures earning quality by employing accruals, real activities earnings management and earnings conservatism. The empirical results show a significantly positive relationship between corporate social responsibility and earnings quality, indicating that corporate social responsibility in China will improve the quality of earnings. The study further investigates the corporate social responsibility performance of the state-owned enterprises. The empirical results indicate that the relationship between corporate social responsibility and earnings quality differs between state-owned and non-state-owned enterprises. State ownership weakens the positive correlation between corporate social responsibility and the quality of earnings.

並列關鍵字

Corporate social responsibility ； Earnings management ； Earnings conservatism ； Earnings quality

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