La asociación entre las Actividades de Responsabilidad Social Corporativa y la calidad de los ingresos: Evidencia de la industria extractiva

Abstract

Building on the ethical theory to solve the research questions, we examine the relationship between Corporate Social Responsibility Disclosure (CSRD) and Earnings Quality (EQ). Using 368 firm-year observations covering the 2010-2017 period. In so doing, we applied content analysis to assess the CSRD dimensions, and we applied discretionary accruals as a proxy of EQ activity. Based on panel data regression, we find a significant and negative relationship between CSRD and EQ in Mozambican extractive industry. Empirical evidence also shows that the influence of positive CSRD indicator (CSRD strengths scores) is much stronger than that negative CSRD indicator (CSRD concerns scores) in reducing earnings quality. These findings are consistent with the idea that the opportunistic managers use CSRD to reach their particular interest, suggesting that the managers are using CSRD as a strategic device to engage in earnings management (poorer earnings quality). The results are robust to alternative proxy measures of CSRD and earnings quality. Con base en la teoría ética para resolver las cuestiones de investigación, examinamos la relación entre Divulgación de Responsabilidad Social Corporativa (CSRD) y la Calidad de los Ingresos (EQ). Usando 368 observaciones de año base cubriendo el período 2010-2017. Al hacer esto, aplicamos el análisis de contenido para evaluar las dimensiones de la CSRD y aplicamos acrecimientos discrecionales como proxy de la actividad de EQ. Con base en la regresión de datos en panel, encontramos una relación significativa y negativa entre el CSRD y el EQ en la industria extractiva de Mozambique. La evidencia empírica también muestra que la influencia del indicador positivo de CSRD (puntuaciones de fuerza CSRD) es mucho más fuerte que el indicador negativo de CSRD (CSRD se refiere a las puntuaciones) en la reducción de la calidad de ingresos. Estas constataciones son consistentes con la idea de que los gerentes oportunistas utilizan la actividad de RSCD para alcanzar su interés particular, sugiriendo que los gerentes están usando el CSRD como un dispositivo estratégico para involucrarse en la gestión de resultados (peor EQ). Los resultados son robustos a medidas alternativas de proxy del CSRD y la EQ. Industria extractiva.

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

“…The methodology used for the analysis is based on the use of numerical and visual descriptive statistics, as well as the estimation of specific tests for the determination of similarities and differences (Terrón-Ibañez et al, 2019: Siueia & Wang, 2019. Specifically, we will estimate frequencies, means, and standard deviations to determine the level of normalisation of the NFI and the visual communication practices used.…”

What companies do not disclose about their environmental policy and what institutional pressures may do to respect

“…Additionally, publicly owned companies (Cormier & Gordon, 2001;Suttipun & Stanton, 2012) or those with a presence of "foreign capital" (da Silva Monteiro & Aibar-Guzmán, 2010) favour the dissemination of the corporate environmental dimension. Similarly, researchers have provided evidence of a link between company profitability and the disclosure of environmental information (Bae Choi, Lee, & Psaros, 2013;Brammer & Pavelin, 2008) and a relationship between CSR disclosure and earnings quality (Siueia & Wang, 2019).…”