Social responsibility disclosure: A study of proxies for the public visibility of Portuguese banks

Branco, Manuel Castelo; Rodrigues, Lúcia Lima

doi:10.1016/j.bar.2008.02.004

Cited by 198 publications

(269 citation statements)

References 62 publications

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“…On the other hand, companies which present abnormally high levels of profits are just as exposed to pressures from stakeholders as those of abnormally large companies or those that operate in socially-sensitive industries (Branco and Rodrigues, 2008). Public visibility may be related to high profits, with the more successful companies coming under more intense stakeholder scrutiny (ibid.…”

Section: H2b2mentioning

confidence: 99%

How Does the Market Value Corporate Sustainability Performance?

et al. 2011

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This study provides empirical evidence on how corporate sustainability performance (CSP), as proxied by membership of the Dow Jones Sustainability Index, is reflected in the market value of equity. Using a theoretical framework combining stakeholder theory and resource-based perspectives, we develop a set of hypotheses that relate the market value of equity to CSP. For a sample of North American firms, our preliminary results show that CSP has significant explanatory power for stock prices over the traditional summary accounting measures such as earnings and book value of equity. However, further analyses suggest that we should not focus on corporate sustainability itself. Our findings suggest that what investors really do is to undervalue large profitable firms with low level of CSP. Firms with incentives to develop a high level of CSP not engaging on such strategy are, thus, penalized by the market.

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Section: H2b2mentioning

confidence: 99%

How Does the Market Value Corporate Sustainability Performance?

et al. 2011

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“…When a disparity, actual or potential, exists between the two value systems, there is a threat to the entities' legitimacy". Lindblom's definition emphasises that entities should undertake actions consistent with social values and expectations [45], which should be adapted according to social pressures [46]. Deegan [7] suggests that in accordance with the legitimacy theory, entities disclose CSR information to create an impression that they are socially responsible.…”

Section: Introductionmentioning

confidence: 99%

“…Hence, we assume that companies are more likely to present information in a management commentary than in a separate CSR report. According to research theoretically grounded in the legitimacy theory [45], the choice of a medium for information disclosure is dependent on the target public for the intended message. Management commentaries as part of annual reports are directed at investors, while CSR reports are aimed at the broader public.…”

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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“…Previous studies like Dahya, Lonie, andPower (1996), Carter, Simkins, andSimpson (2003), Branco and Rodrigues (2008), and Khan (2010) showed the positive relation between CSR reporting and corporate governance. According to Fama and Jensen (1983), increasing number of non-executive members on the board is a useful tool to solve the conflicts between managers and owners.…”

Section: Research Purpose and Hypothesesmentioning

confidence: 99%

“…Branco and Rodrigues (2008), Carter et al (2003), and Ibrahim and Angelidis (1994) asserted that higher board diversity is related with higher CSR reporting. In the light of these studies, the second hypothesis is:…”

Section: Research Purpose and Hypothesesmentioning

confidence: 99%