Manuscript Type
Empirical
Research Question/Issue
This study seeks to capture the influence of national institutions and industry characteristics on CSR reporting. To explore national institutions, the paper compares CSR reporting in France and Australia characterized respectively as state‐led market economies (SLMEs) and liberal market economies (LMEs). Comparisons are also made between high‐risk and low‐risk industries. The interaction between the two main variables is also analyzed.
Research Findings/Insights
Using corporate published data from a sample of 220 Australian and French companies in 2009, the research finds that CSR reporting is stronger and CSR practices more transparent in France compared to Australia. CSR reporting is also stronger in high‐risk industries than in low‐risk industries. It also found that industry characteristics override the influence of national institutions in high‐risk industries. However, these conclusions vary depending on the sub‐categories of CSR reporting and the implicit versus explicit form of this type of communication.
Theoretical/Academic Implications
This study develops a new model of CSR reporting using 99 items. It provides empirical support for the institutional perspective for understanding differences in reporting whilst demonstrating the interaction between industry risk characteristics and national institutions.
Practitioner/Policy Implications
The study offers insights to policy makers interested in promoting CSR accountability and transparency. It especially raises the importance of regulation to develop corporate reporting practices. It also provides insights to managers to identify relevant CSR practices within their country/industries and the different communication strategies that they can adopt in responding to institutional pressures.
Purpose-The purpose of this paper is to propose a new model of corporate governance that is holistic-incorporating internal and macro perspectives across legal, regulatory, sociological, ethical, human resource management, behavioural and corporate strategic frameworks. Researchers have signalled the need for "new theoretical perspectives and new models of governance" due to a dearth of research that is context-driven, empirical, and encapsulating the full spectrum of reasons and actions contributing to corporate crises. Design/methodology/approach-The approach consists of theory building by reviewing the literature and examining the gaps and limitations. Findings-The proposed model is a distinctive contribution to theory and practice in three ways. First, it integrates the firm-specific, micro factors with the country-specific, macro factors to illustrate the holistic nature of corporate governance. Second, shareholders and stakeholders are shown to be only one component of the model. Third, it veers away from singular approaches, to dealing with corporate governance using a multidisciplinary perspective. The paper argues that such a holistic and integrated view is a necessity for understanding governance systems. Research limitations/Implications-The challenge is to operationalize the model and test it empirically. Practical implications-The model is instructive and of use for practitioners in attempting to understand, explain and develop governance models that are appropriate to their national and industry settings. Originality/value-This paper argues that narrow-based models are limited in their approach and in a sound and integrative review of the up-to-date literature contributes to theory-building on corporate governance. Vijaya Thyil joined the Graduate School of Management at La Trobe University as lecture in 2003. She teaches Corporate Finance, Investment Valuation, Business Analysis and Modelling, and Organisational Behaviour. Her research interests are Business Models of Small and Medium-sized Enterprises, Entrepreneurship and Entrepreneurial Spirit, and Corporate Governance, and she is currently involved in two research projects one on Corporate Governance, and the other on Building business models for the regional industry in Melbourne. Her research has been presented in Europe, Australia and New Zealand.
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