Global Corporate Social Responsibility Reporting Regulation

Wen, Hui; Deltas, George

doi:10.2139/ssrn.3510187

Cited by 4 publications

(6 citation statements)

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“…On the summit declaration, they mentioned to strengthen the voluntary approach of CSR by encouraging the improvement of the transparency of private companies' performances with respect to CSR. Moreover [32], stated that the most notable and robust drivers of global CSR reporting regulation are the GDP level of a country and the promotion efforts from international organizations targeted to that country. The author also stated that one of the factors which stimulates the growth of CSR regulation is the increasing expectation from stakeholders and the civil society on governments to regulation firms' behavior.…”

Section: Discussionmentioning

confidence: 99%

“…As explained in the previous chapter, this paper is concerned with the seven economic power of the world, the members of the G7 group, namely the France, Germany, Italy, Canada, United States, United Kingdom and Japan. It has been said that the most crucial and robust drivers of worldwide CSR reporting regulation are a country's GDP level and international organizations' attempts to promote it [32]. The author also indicated that one of the variables stimulating the development of CSR regulation is the growing expectation of stakeholders and civil society about the behaviors of governments to regulate companies.…”

Section: Csr Reporting Regulation In G7 Countriesmentioning

confidence: 99%

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The Influence of Environmental, Social, and Governance (ESG) Disclosure on Firm Financial Performance

Almeyda

Darmansya

2019

IJPS

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The aim of this study is to do research about nonfinancial aspect that has influence toward the companies' financial performance, that will highlight the scores of companies' ESG (Environment, Social, Governance) disclosure. Nowadays, investors take into account the non-financial aspect into their investment decision, such as ESG performance as a risk measurement. The mixed of results found in the previous studies regarding the correlation between company ESG/CSR and financial performance warranted us to conduct more research in this particular topic. We conducted research on companies in the real estate sector since its long-term nature of investment is aligned with long-term ESG goals. The samples of companies were collected from seven countries with the strongest economy worldwide, the G7. The financial performance is measured by both in the perspectives of accounting and stock market, which are ROA, ROC, Stock Price, and P/E. The panel data was collected over five years (2014-2018), using STATA to run multivariate regressions to test for the correlations. The results indicate that there is a statistically significant positive relationship between the ESG disclosure with firm's ROA and ROC, but no significant relationship with Stock Price and P/E. Furthermore, we found that there is a statistically significant positive relationship between the Environmental factor towards the firm's ROC and Stock Price. Lastly, the study also reveals that there's no significant relationship between the Social factor and Governance factor with firm financial performance. The results show that a high transparency regarding ESG information could improve the financial performance. Thus, it is advisable for investors, company management, decision-makers, and industry regulators to consider the importance of the ESG disclosure.

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Section: Discussionmentioning

confidence: 99%

Section: Csr Reporting Regulation In G7 Countriesmentioning

confidence: 99%

The Influence of Environmental, Social, and Governance (ESG) Disclosure on Firm Financial Performance

Almeyda

Darmansya

2019

IJPS

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“…Thus, the effectiveness of a formal contract depends on the quality of legal protection of the rights and benefits specified in a stakeholder-agent contractual relationship. For instance, strong investor protection institutions enhance the salience of investors (Guillén & Capron, 2016), while increased reporting requirements for nonfinancial issues improve the saliency of the community/environment in which the firm operates (Wen, 2017). Combining the discussions on intrinsic relative salience among investors, customers, and the community/environment, we propose the following:…”

Section: Hypothesis Developmentmentioning

confidence: 99%

Multistakeholder Agency: Stakeholder Benefit Alignment and National Institutional Contexts

Chen

Durán

Sauerwald

et al. 2021

Journal of Management

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The alignment among multiple stakeholder benefits is a valuable performance indicator for the benefits generated by a firm for various stakeholders. Our research seeks to augment stakeholder-agency theory with an institutional perspective to analyze how national institutions affect stakeholder benefit alignment. We suggest that the current development of stakeholder-agency theory has overlooked the alignment of different stakeholders’ benefits and the external institutional contexts as critical determinants in ensuring such alignment. We conceptualize stakeholder benefit alignment as a positive relationship between different stakeholder groups’ benefits, and propose an institutional framework grounded in relative stakeholder salience. Using this framework, we argue that stakeholder benefits are better aligned when national institutions enhance the ease of withdrawal, legal protection, and private enforcement for intrinsically less salient stakeholders, and when a long-term oriented culture characterizes a society. We found supportive evidence by employing a meta-analytic approach based on 530 correlations from 94 primary studies representing 23 economies. Our study adds new insights to the stakeholder-agency literature by conceptualizing and quantitatively examining the degree of alignment across different stakeholder benefit dimensions, focusing on national formal and informal institutions as boundary conditions.

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“…The growing importance of CSR has prompted many countries to develop statutory frameworks to regulate it. "By 2015, 98.4% of world top 64 economies have instituted a total of 366 policy instruments, among which 64.2% are mandatory" [7]. International frameworks around the social responsibility initiatives of corporates demand a greater responsibility and accountability in their operations while dealing with the communities.…”

Section: Introductionmentioning

confidence: 99%

Bridging Sustainability and Corporate Social Responsibility: Culture of Monitoring and Evaluation of CSR Initiatives in India

2018

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This study examines the continuum of sustainability and corporate social responsibility (CSR) policies, and analyzes broad patterns that have emerged with respect to monitoring and evaluation practices in the CSR programs of Indian companies under new CSR regulations. Under these regulations, the Indian firms are mandated to spend at least 2% of their profits on social and development sectors. We specifically analyze (i) how Indian companies have conceptualized the idea of sustainability in their annual sustainability reports, and how these ideas get reflected in their CSR policies, and (ii) the monitoring and evaluation practices in CSR interventions. The study uses both primary and secondary data sources, and employs text network analysis and narratives-based content analysis to analyze the data. We find that the conceptualization of sustainability is a largely rhetoric and customary exercise that does not take into account variations in firms’ businesses. This approach toward sustainability initiatives presents serious challenges to sustainability, including social sustainability. The study also finds that there is lack of ‘willingness’ and ‘readiness’ among Indian companies to measure and monitor the outcomes of CSR interventions, which is arguably one of the most robust ways to signal their commitment toward corporate sustainability. Although mandatory CSR spending is a recent phenomenon in India, our study establishes that it is only through the design of effective CSR policies that the best practices for Indian business community can emerge in the near future.

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Global Corporate Social Responsibility Reporting Regulation

Cited by 4 publications

References 0 publications

The Influence of Environmental, Social, and Governance (ESG) Disclosure on Firm Financial Performance

The Influence of Environmental, Social, and Governance (ESG) Disclosure on Firm Financial Performance

Multistakeholder Agency: Stakeholder Benefit Alignment and National Institutional Contexts

Bridging Sustainability and Corporate Social Responsibility: Culture of Monitoring and Evaluation of CSR Initiatives in India

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