本文探討中國上市企業社會責任與盈餘管理之關係。本研究應用裁決性應記項目做為衡量盈餘管理行為之代理變數,以《南方週刊》於2008年至2012年公佈之中國企業社會責任排行榜之公司為樣本(即CSR公司),並就與CSR公司相同產業、公司規模相近之條件篩選出配對樣本(non-CSR公司),另外考量國有企業與民營企業在公司結構上存在的差異,將樣本化分為國營企業(SOEs)及非國營企業(SOE)進行檢視。實證結果表明:中國公司從事企業社會責任對盈餘管理有顯著負向影響。比較non-CSR公司;CSR公司較不會通過裁決性應記項目做盈餘的操弄行為,意味著企業從事企業社會責任傾向誠實、可靠且合乎道德倫理,因此呈現更透明的財務報表。
This study examines the relationship between corporate social responsibility (CSR) and earnings management in Chinese listed firms. We use the discretionary accruals as a proxy for earnings management behavior, and adopt by ”Overall Ranking Listed of Corporate Social responsibility” published by Southern Weekend from 2008 to 2012 as CSR sample, and we match non-CSR firms to CSR firms are based on the same industry and similar size in our sample. Furthermore, considering the firm structures are different between SOEs and non-SOEs, we also examine these two subsamples respectively. The result shows that CSR engagement has a significant negative effect on earnings management. CSR firms appear to reduce or avoid earnings manipulations through discretionary accruals, as compared to non-CSR firms. The result implies that firms with corporate social responsibility tend to be honest, trustworthy, and ethical, therefore publish more transparent financial report.