Selecting A share listed companies in Shanghai and Shenzhen from 2009 to 2014 as the research subjects, this paper measures the social responsibility reporting quality and system risk by Run Ling global rating scale and the single factor model. The empirical results reveal that high quality corporate disclosure of social responsibility reports could effectively deal with the occurrence of corporate system risk. The higher the quality of the social responsibility reports disclosed by the enterprises, the more significant the response to the corporate systematic risk. In order to ensure the robustness of the research results, the two phrase Instrument Variables (IV) and the Heckman method are used to test the endogeneity of the results. Whats more, the methods of changing variable measurement, nature of property right and the grouped regression of social responsibility report quality are carried out to test the robustness. The results are validated effectively. On the basis of the conclusions, the paper puts forward a series of policy recommendations from the views of government sectors, social responsibility report rating agencies and the corporate themselves.