Based on information economics theory, we explore the influencing mechanism of corporate social responsibility transparency affecting firm value, the adjustment mechanism of legal system between corporate social responsibility transparency and corporate value. Using data of Chinese listed firms between 2012 and 2016, we find that corporate social responsibility transparency and legal environment have a significant positive impact on corporate value. Weak legal system enhances the positive impact of corporate social responsibility transparency on corporate value, and strong legal system negatively regulates the impact of corporate social responsibility transparency on corporate value. Finally, we find that the enterprise heterogeneity influence corporate social responsibility transparency influence on corporate value.