An extension of the industrial corporate social responsibility practices index: New information for stakeholder engagement under a multivariate approach

Abstract

The aim of this paper is to extend the Industrial Corporate Social Responsibility Practices Index proposed for the 10 main industries in the 39 sectors of activity that comprise them. This extension will provide more detailed information on CSR practices at the industrial level, especially about sustainable development and environmental concerns. In addition, this paper stablishes an aggregate measure of industrial classification and mimetic typologies. It will tabulate the overall impact that the economic activity of a company has on society and environment. Thereby, the relationships between these indicators and the mimetic institutional forces are studied, testing these forces indicate that companies from sectors considered to have greater impact/risk have higher corporate social responsibility (CSR) scores than companies from other sectors. Additionally, using the MetaBiplot statistical multivariate technique, which by the comparison and integration of several subspaces provides a global view of sustainability at a sectoral level, it was found that the most polluting companies with the highest environmental risks-forestry and paper, mining, oil and gas producers, gas, water, and multi-utilities, tobacco and electricity sectors-show their predilection for environmental policies and reports, human rights, and stakeholder participation. Moreover, the less polluting companies-banks, insurance, media, telecommunications, real state, and general retailers-are more intensive on staff and implement policies aimed at favoring: the personal and work-life balance with systems for employee training and promotion; the equal opportunities and participation; the maintenance of good customer and supplier relations; and the fight to counteract bribery.

Do the ecoinnovation and ecodesign strategies generate value added in munificent environments?

“…In addition, to avoid biased results, we included several control variables, selected according to the previous literature (i.e., Amini, Bienstock, & Narcum, ; Amorelli & García‐Sánchez, ; Chen et al, ; Ghisetti, Marzucchi, & Montresor, ; Lee et al, ; Minutolo, Kristjanpoller, & Stakeley, ; Terrón Ibáñez, Gómez‐Miranda, Rodríguez, & Rodríguez Ariza, ; Tomas Siueia & Wang, ; Tsai & Liao, ; Tsai & Wang, ): “Size” is a numerical variable that represents the size of the company through the logarithm of total assets; “Leverage” is a numerical variable that represents financial leverage through the proportion of foreign funds and equity; “WC” is a numerical variable that represents the fund maneuver or liquidity of the company; “Dividend” is a numerical variable that represents the dividends accrued per share; “ForeignSales” is a numerical variable that represents the percentage of sales in markets other than domestic; “CapitalExp” is a numerical variable that represents the investment in physical capital relativized by sales; “R&D” is a numerical variable that represents the investment in R + D + i relativized by sales; “FirmAge” is a numerical variable that represents the age of the company; “CorpGovScore” is a numerical variable that represents the good corporate governance of the company through a score; and “SocialScore” is a numerical variable that represents the sustainability of social practices through a score. On the other hand, when we return the variable “Tobin Q ,” we control for economic profitability, “ROA.” Moreover, we control for “Country,” “Industry,” “Year,” “NCSRPI,” and the level of orientation towards the stakeholders of the company's country of origin (Amor‐Esteban, Galindo‐Vicente, & García‐Sánchez, ; Amor‐Esteban, Galindo‐Vicente, & García‐Sánchez, ; Amor‐Esteban, Galindo‐Villardón, & García‐Sánchez, ; Amor‐Esteban, García‐Sánchez, & Galindo‐Vicente, ; Amor‐Esteban, García‐Sánchez, & Galindo‐Vicente, ; García‐Sánchez, Cuadrado‐Ballesteros, & Frías‐Aceituno, ).…”

What colour is the corporate social responsibility report? Structural visual rhetoric, impression management strategies, and stakeholder engagement

“…In summary, as a consequence of the important role that institutional pressures have in information disclosure policies (i.e., García-Sánchez, et al, 2016, 2019, we believe that the structural dimensions of impression management techniques differ between sectors of activity due to the mimetic isomorphism effect (Amor-Esteban et al, 2018c, 2018d and between periods of time due to legal changes in Spain that have regulated these informative practices as mandatory, favouring the normalisation of information (coercive effect).…”

Corruption and sustainable development: The impact on income shifting in European international groups

“…Regarding the main type of corruption (private-to-public), the literature can be presented based on the use of microeconomic and macroeconomic approaches. Within the latter field, many authors have developed different analyses (Álvarez Etxeberria & Aldaz Odriozola, 2018; Amor-Esteban, Galindo-Villardón, García-Sánchez, & David, 2019;Borja, 2017;Gelbrich et al, 2016;Gillanders & Neselevska, 2018;Gorsira, Denkers, & Huisman, 2018;Liu et al, 2019;Martin et al, 2007;Rady, 2018;Seleim & Bontis, 2009;Zhu & Zhang, 2017). Rady (2018) studies the effect of bribery on foreign direct investments in developing countries.…”