Committed vs opportunistic corporate and social responsibility reporting

Gonçalves, Tiago; Gaio, Cristina; Costa, Eva Ellen

doi:10.1016/j.jbusres.2020.01.008

Cited by 42 publications

(47 citation statements)

References 54 publications

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“…Although the increasing importance of both topics, little is known about the association between EM and CSR, and the scarce literature presents mixed results. Some authors find a negative relation between EM and CSR and argue that sustainable practices lead managers to behave more ethically, which translates into higher transparency and quality of reported earnings [7][8][9][10][11][12][13][14][15][16]. However, others find a positive relation [17][18][19], whereas some authors suggest that the relationship between EM and CSR is mixed, due to contextual factors such as the legal and political system or the level of investment in sustainable policies, setting aside their more ethical judgments [7,20,21].…”

Section: Introductionmentioning

confidence: 99%

Corporate Social Responsibility and Earnings Management: Moderating Impact of Economic Cycles and Financial Performance

2021

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This study analyses the relationship between earnings management and corporate social responsibility. To this end, we use a sample of 568 listed companies from the European Union between 2010 and 2018. We use discretionary accruals as the measure of earnings management, under the Modified Jones model. Corporate social responsibility is proxied by the Combined Environmental, Social and Governance Score from the ASSET4 database. We find a negative relation between earnings management and corporate social responsibility, suggesting that managers from more socially responsible companies have a more ethical behavior and, thus, financial reporting of higher quality. Additional analysis provides evidence that economic cycles and financial performance play important roles in the relation between earnings management and corporate social responsibility. During periods of crisis or of losses, the relationship is positive, suggesting that under unfavorable economic conditions, management makes opportunistic use of a sustainable company’s status to manage earnings.

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Section: Introductionmentioning

confidence: 99%

Corporate Social Responsibility and Earnings Management: Moderating Impact of Economic Cycles and Financial Performance

2021

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“…Companies are also opting for a socially responsible view in their business [8,9], not just because of market conditions or pressure from shareholders, but also because it is a long-term oriented business approach. Integrating environmental, social and governance (ESG) factors in high management decisions can generate higher and steadier profits in the future for its shareholders.…”

Section: Literature Reviewmentioning

confidence: 99%

Risk and Performance of European Green and Conventional Funds

2021

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This paper analyzes how the risk-adjusted returns of green funds compare to those of conventional funds, between the years 2005 and 2020 for the European Union countries. Additionally, we tested how the performance of green funds correlates to the business cycle, subdividing their performance through expansionary and recessionary times. The findings are summarized as follows: our regression results demonstrated green and conventional funds exhibiting negative abnormal adjusted-returns against the developed world market benchmark for the single-factor and multifactor models. For the European market benchmark, we found environmental mutual funds presenting a positive performance for both models and conventional funds displaying negative results for the single-factor model and positive results for the multifactor model. The factor loadings for green funds indicated a negative load on momentum, book-to-market (HML) and size (SMB) factors, revealing a higher exposure to big and value companies. Subsampling per business cycle exhibited green mutual funds providing higher risk-adjusted returns to investors during crisis periods and mixed results for the non-crisis periods.

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“…Their results confirm the relevance of considering a gender perspective of sustainability issues in the fashion industry, since it can drive Generation Z's demand. Instead, the other two papers in this first group focus on sustainability reporting; it has been proved that companies need to meet the expectations of their stakeholders to preserve a good reputation [6,17]. Moreover, the adoption of sustainability reporting systems [18] contributes to spread awareness on their commitment.…”

Section: Overview Of the Papersmentioning

confidence: 99%

“…Fashion brands must take action towards environmental and ethical considerations. The fashion industry is slowly recognizing its social, environmental, and economic responsibilities as well as its opportunities to support sustainability policies in sourcing, manufacturing, and marketing [6]. By implementing sustainable marketing policies, fashion companies can support good causes and improve their customer-brand relationships by reducing the consumption of natural resources and pursuing sustainable development [7].…”

Section: Introductionmentioning

confidence: 99%

Sustainability in Fashion Brands

2020

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This preview article introduces the Special Issue on “Sustainability in Fashion Brands” and presents a summary of the research. This editorial will highlight the contents and methodologies of selected papers, presenting diverse issues in sustainable fashion strategies and management. The authors conclude with a special thank you to the authors, reviewers, and the editor-in-chief for their roles in the preparation of the special issue.

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Committed vs opportunistic corporate and social responsibility reporting

Cited by 42 publications

References 54 publications

Corporate Social Responsibility and Earnings Management: Moderating Impact of Economic Cycles and Financial Performance

Corporate Social Responsibility and Earnings Management: Moderating Impact of Economic Cycles and Financial Performance

Risk and Performance of European Green and Conventional Funds

Sustainability in Fashion Brands

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