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In recent years, China's medical product safety accidents have occurred in an endless stream, causing widespread public concern about the social responsibility of pharmaceutical companies. As an important external supervision body in corporate governance, institutional investors play a key role in promoting pharmaceutical companies to assume social responsibility. This paper analyzes the status quo of medical enterprise social responsibility information disclosure by obtaining the list of pharmaceutical manufacturing listed companies with RKS CSR Ratings, and further discusses the influence of institutional investors' shareholding on corporate social responsibility performance from the perspective of institutional investor governance. The study found that the overall level of social responsibility information disclosure of pharmaceutical companies in China is not high, but there is an improvement trend; in terms of social responsibility performance, institutional investors can play a significant positive impact; moreover, compared with the companies with higher ownership concentration, the shareholding of institutional investors in the companies with lower ownership concentration can play a more positive role in promoting companies to fulfill their social responsibilities. Keywords—pharmaceutical companies; corporate social responsibility; institutional investors holding shares; equity concentration

proceedings of the 5th international conference on economics, management, law and education (emle 2019)

Research on Social Responsibility Information Disclosure and Performance of Pharmaceutical Companies: Based on the Perspective of Institutional Investor Governance