The complexity of the business world has led to growing demands being made of companies regarding the information provided on their financial performance, corporate governance and contribution to developing sustainability. In response, some leading companies have begun to publish integrated reporting, in the form of a document providing a coherent summary of this information, thus facilitating stakeholder engagement.This paper examines the validity of the hypotheses of the theories of agency and of signalling, and analyses the political costs and those borne by owners in voluntarily developing this new type of business document. More specifically, in order to determine their prevalence among the suggested reasons for these paradigms, we analyse the effect of industry concentration, together with other factors, in the development of integrated reporting.The analysis of a non-balanced sample of 1590 international companies for the years 2008-2010, in which a logistic regression methodology is applied to panel data, reveals the negative impact of industry concentration on the development of a more pluralist report, simultaneously taking into account stakeholders, sustainability and the long-term viewpoint, as well as questions of responsible investment, business ethics and transparency. Copyright
This article analyzes a panel of 550 international firms, for the period 2004 to 2010, to compare the role of female directors in family and non-family firms in promoting responsible practices.Many studies have associated the presence of women on the board with a higher degree of socially responsible commitment. However, we found that this is much less so in family firms than in non-family firms. In family firms, corporate social responsibility (CSR) commitment does not vary significantly with the presence of female directors, as the latter tend to behave in accordance with the family orientation toward CSR. This orientation depends on the stakeholders being addressed, with greater social responsibility shown toward external stakeholders than internal ones.
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