近年來，企業社會責任越來越受到監管機構和學者的重視，中國的企業社會責任發展快速，並且成立許多企業社會責任同盟組織。企業社會責任報告數量出現了明顯的增長，透過報告書，能夠減少經理人與投資人間的資訊不對稱，因此能提供市場更準確的資訊以評價公司。中國的股票市場有著特殊的股權結構特徵，中國上市公司非流通股份占總股本比重相當大，且股權結構高度集中，國家股股份在公司總股本中占絕對優勢，中國政府對上市公司握有絕對控制權，本研究針對中國企業社會責任與股權結構對資訊不對稱之間的關聯性進行實證研究。
本研究資料根據中國社會科學院發布之企業社會責任藍皮書中的大陸公司作為研究對象，樣本選取2010至2014年篩選出共438筆資料。實證結果顯示，企業社會責任績效對資訊不對稱會產生顯著負向之影響，代表有較好的企業社會責任表現，資訊透明度越高，越能降低資訊不對稱；國有股持股比率對資訊不對稱會產生顯著正向之影響，代表國有股持股比率越高，資訊不對稱的情形也會提高；董監事持股比率對資訊不對稱會產生顯著負向之影響，代表董監事持股比率越高，會降低資訊不對稱。
Corporate Social Responsibility (CSR) appears to be gaining interest among regulators and academics. China's CSR rapid development and establishment of many CSR union organizations. The number of CSR report appears significant growth, issued report can be considered as presenting the general public to understand the business of the social, environmental and other non-financial information. By the report, managers can reduce the information asymmetry with investors, it can provide a more accurate information to evaluate the company in the market. Against association of between China's CSR and information asymmetry rarely, therefore, this research will explore the relationship between China's CSR and information asymmetry.
The empirical results show that CSR performance are negatively associated with information asymmetry. Represents have better CSR performance, reflect of managers moral conscience and reliability and transparency of financial statements, information transparency is higher, more able to reduce information asymmetry. State-owned shares ratio show that information asymmetry presented significant positive correlation, the higher the ratio of shares on behalf of state-owned shares, the situation will improve information asymmetry. Directors and supervisors shareholding ratio with information asymmetry presented significant negative correlation, the higher the ratio of shares on behalf of directors and supervisors, will reduce the information asymmetry.
