媒体关注与财务杠杆对企业社会责任报告 印象管理的影响

基于心理学中的印象管理理论，以2015—2019年我国发布社会责任报告的沪深A股上市公司为研究样本，实证研究了媒体关注与财务杠杆对企业社会责任报告印象管理的交互影响。研究发现，媒体关注度越高，企业社会责任报告印象管理程度也越高；财务杠杆与企业社会责任报告印象管理程度呈正相关关系；在媒体关注与财务杠杆的交互作用下，企业社会责任报告印象管理程度更高。进一步研究发现，与非环境敏感型行业相比，在环境敏感型行业中媒体关注对企业社会责任报告印象管理程度的正向影响更显著。基于此，企业应正确面对媒体关注的压力，注重社会责任信息披露的质量；政府需约束企业社会责任报告印象管理行为，并重点监管和审查高污染行业的社会责任报告印象管理行为。

The Impact of Media Attention and Financial Leverage on the Impression Management of Corporate Social Responsibility Report

Based on the impression management theory in psychology, taking the Shanghai and Shenzhen A-share listed companies that released social responsibility reports in China from 2015 to 2019 as the research sample, the paper empirically studies the interactive influence of media attention and financial leverage on the impression management of corporate social responsibility reports. The results show that the higher the media attention, the higher the degree of impression management of corporate social responsibility reports; the financial leverage are positively correlated with the degree of impression management of corporate social responsibility reports; under the interaction of media attention and financial leverage, the degree of impression management of social responsibility report ishigher. Further study found that compared with non-environmentally sensitive industries, media attention in environmentally sensitive industries has a more significant positive impact on the degree of impression management of social responsibility reports. Based on this, enterprises should correctly face the pressure of media attention and pay attention to the quality of social responsibility information disclosure; the government should restrict the impression management behavior of corporate social responsibility reports, and focus on supervising and reviewing the impression management behavior of social responsibility reports in high pollution industries.