Motivations for issuing standalone CSR reports: a survey of Canadian firms

Thorne, Linda; Mahoney, Lois S.; Manetti, Giacomo

doi:10.1108/aaaj-07-2013-1393

Cited by 192 publications

(188 citation statements)

References 47 publications

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“…This signaling theory is based on Spence's [39] work. Several previous studies related to sustainability reporting have used the signaling theory: Dawkins and Ngunjiri [40], Mishra and Suar [41], Robinson et al [42], Thorne et al [43], Reimsbach and Hahn [44] and Grabara [45]. The current study explores and examines whether the Sustainability Reporting Award (SRA) can improve the value relevance of the financial statements as part of the accounting information based on the decision usefulness approach to financial reporting and signaling theory.…”

Section: Sustainability Reporting and Value Relevance Of Accounting Imentioning

confidence: 99%

Sustainability Reporting and Value Relevance of Financial Statements

et al. 2018

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This study examines whether information about the winners of the Sustainability Reporting Award (SRA) contributes to the usefulness of the information in financial statements. This study used a sample consisting of 110 winners of SRA (SRA firms) and 110 companies that did not receive SRA (non-SRA firms) from 2008 to 2016. The study found that earnings per share (EPS), earnings per share change (EPSC), and book value per share (BVPS) are value-relevant information. Results of comparison between SRA firms and non-SRA firms show that the positive association between EPS and stock price (P) and the positive association of EPS with stock returns (R) for SRA firms are higher than that for the non-SRA firms. In addition, findings of this study indicate that EPSC is positively associated with R when EPSC and R are measured by Indonesian rupiah (IDR) instead of by percentage, and the positive association between EPSC and R for the SRA firms is higher than that for the non-SRA firms. Thus, the results are sensitive to measures of the variables. However, this study found that value relevance of BVPS for SRA firms is lower than for non-SRA firms. Implication of this study is that information about the winners of SRA contributes to the usefulness of financial statements, especially the information of EPS and EPSC.

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Section: Sustainability Reporting and Value Relevance Of Accounting Imentioning

confidence: 99%

Sustainability Reporting and Value Relevance of Financial Statements

et al. 2018

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“…The same applies when a company is subject to critical publicity in the popular press (Brennan and Merkl-Davies, 2014) or seeks to win an influential stakeholder's approval (de Villiers and van Staden, 2006). Similarly, larger organisations are more likely to complement financial information with separate sustainability or corporate social responsibility reports than smaller firms due to additional political pressure and public interest (Thorne et al, 2014). In each instance non-financial reporting is used to demonstrate that the firm is aware of important ESG issues, is responding to weaknesses and remains deserving of stakeholders' continued support (Brennan and Merkl-Davies, 2014;Tregidga et al, 2014).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Strategy disclosures by listed financial services companies: Signalling theory, legitimacy theory and South African integrated reporting practices

Zijl¹,

Wostmann²,

Maroun³

2017

SAJBM

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This paper investigates the current extent of social-, environmental-and economic-(SEE) related strategy disclosure of companies listed in the financial services sector of the Johannesburg Stock Exchange. It uses signalling and legitimacy theory to analyse the findings from a developed SEE strategy-related disclosure checklist.The paper finds social and environmental strategy-related disclosure is still secondary to economic strategy-related disclosures. This may be due to persistent focus on providers of financial capital and the need to perform financially. Further, the subsector's business model and how closely the subsector interacts with their customers is seen as a driver of social and environmental strategy-related disclosure to maintain their legitimacy and to reduce information asymmetry, reduce cost of capital and assure investors that these factors are being appropriately managed by the entity.Following from above, the banking, insurance and real estate subsectors presented the most strategy-related disclosure. This was linked to their high public accountability and daily interaction with customers, necessitating the need to manage their legitimacy and address adverse selection. The paper also proposes some areas for future research to understand the potential obstacles to incorporating social and environmental concerns into strategy and related disclosures.

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“…Despite the lack of such an obligation, companies used to make additional voluntary disclosures on non-financial information regarding CSR issues in different forms and extent, especially large, listed or public trust companies [20]. According to recent meta analyses [21,22], CSR disclosure research in developed countries has predominantly focused on North America (e.g., Thorne et al [23] in Canada, Cho et al [24] in United States), Australia (e.g., Deegan and Gordon [25]), and north-western Europe (e.g., Gray et al [26] in the UK, Cormier et al [27] in Germany, and Chauvey et al [28] in France). Less attention has been paid to southern Europe (e.g., Italy and Spain) and eastern Europe (e.g., Poland and Slovenia).…”

Section: Introductionmentioning

confidence: 99%

CSR Disclosure in Polish-Listed Companies in the Light of Directive 2014/95/EU Requirements: Empirical Evidence

2017

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On 15 December 2016, new non-financial reporting requirements were implemented in the Polish Accounting Act (PAA) which would be enforced from 1 January 2017. This act resulted from the transposition of Directive 2014/95/EU. New requirements oblige certain groups of entities to disclose non-financial information on environmental, social and employee-related matters, respect for human rights, anti-corruption and bribery matters. The purpose of this paper is two-fold. Firstly, this study analyses the new non-financial reporting requirements implemented in PAA, which were created from the transposition of the Directive. Secondly, this study investigates the current extent and quality of corporate social responsibility (CSR) reporting in companies listed on the Warsaw Stock Exchange (WSE) and their compliance with the new requirements. The sample comprises 150 selected listed companies on the WSE. The data were collected from annual reports, separate CSR reports, and companies' websites. Content analysis and a rating scale were used to measure the level of CSR disclosures. The results show that companies prefer annual reports to communicate voluntary CSR disclosures. In the majority of cases, CSR disclosure of companies were not compliant with the new requirements. Companies placed little emphasis on reporting about human rights and anti-corruption. This suggests that the new reporting obligation should increase the extent and quality of non-financial disclosure among Polish listed companies.

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Motivations for issuing standalone CSR reports: a survey of Canadian firms

Cited by 192 publications

References 47 publications

Sustainability Reporting and Value Relevance of Financial Statements

Sustainability Reporting and Value Relevance of Financial Statements

Strategy disclosures by listed financial services companies: Signalling theory, legitimacy theory and South African integrated reporting practices

CSR Disclosure in Polish-Listed Companies in the Light of Directive 2014/95/EU Requirements: Empirical Evidence

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