Stakeholder Engagement in Sustainability Reporting: Evidence of Reputation Risk Management in Large Australian Companies

Ardiana, Putu Agus

doi:10.1111/auar.12293

Cited by 26 publications

(22 citation statements)

References 101 publications

(185 reference statements)

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“…The authors reveal a focus on positive disclosure such as their world class facilities and expertise in dealing with the oil spill and the use of image restoration strategies to deflect attention from negative consequences of the oil spill. Ardiana (2019) extends the literature on RRM by highlighting that large Australian companies undertake stakeholder engagement primarily to manage their reputational risk.…”

Section: Reputation Risk Managementmentioning

confidence: 72%

Corporate social responsibility disclosures and reputation risk management post the banking royal commission: a study of the big four banks

Lodhia

Mitchell

2022

QRAM

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Purpose This study aims to explore the use of corporate social responsibility (CSR) disclosures by the “Big Four” Australian banks post the banking royal commission (BRC) to manage their reputational risk. Design/methodology/approach This paper uses a case study approach through a thematic analysis of the Big Four banks’ annual and sustainability reports and uses reputation risk management (RRM) as a conceptual lens to explore the image restoration strategies used by these banks. Findings The study finds that a corrective action strategy was disclosed extensively by all four banks whereby each bank outlined the actions that they were undertaking to correct the deficiencies identified by the BRC. However, the impact of these proposed actions was tampered by the fact that each bank sought to use strategies to reduce the offensiveness of their misdemeanours. It is argued that while disclosure on corrective actions and compensation is useful, an emphasis on reducing offensiveness of actions impacts the effectiveness of banks’ responses and their acceptance of full responsibility for their actions. Research limitations/implications This paper applies the RRM perspective to a recent reputation damaging event, thereby expanding the literature on image restoration strategies used by companies during major incidents. Practical implications This study provides useful insights in relation to the approaches used to manage the reputational risk arising from the BRC. It provides insights into the credibility of information disclosed post an incident and has potential implications for the assurance of such information. Social implications Given the critical importance of the banking industry to modern society, misconduct in this sector needs a closer examination, requiring a greater need for responsibility from its key players. Originality/value This study extends the applicability of the RRM perspective to a social incident and highlights that it is reputation, rather than legitimacy, that is critical when organisations in an industry face extensive public scrutiny. A thematic analysis approach adds value to the methods used for analysing CSR disclosures.

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Section: Reputation Risk Managementmentioning

confidence: 72%

Corporate social responsibility disclosures and reputation risk management post the banking royal commission: a study of the big four banks

Lodhia

Mitchell

2022

QRAM

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“…Several companies choose to provide internet-based platforms for stakeholder engagement with internally-generated contents (Rinaldi, 2013). Reputational risk management over unsustainable practices becomes an important consideration of managers in designing stakeholder engagement, as noticed by Dillard & Yuthas (2013) and Ardiana (2019).…”

Section: Conceptualising Stakeholder Engagement In Sustainability Rep...mentioning

confidence: 99%

Conceptualising Stakeholder Engagement in Sustainability Reporting

Ardiana

2022

Jurnal Ilmiah Akuntansi dan Bisnis

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A plethora of studies reveal that stakeholder engagement is critical in sustainability reporting. However, there is a paucity in the literature on how stakeholder engagement in sustainability reporting may lead to more meaningful sustainability reports. This paper aims to conceptualise the role of stakeholder engagement in producing more meaningful sustainability reports. This conceptual paper offers avenues for future empirical research. This paper contributes to the literature and the theory by shedding light on the importance of institutional work in shifting the institutional logic of stakeholder engagement in sustainability reporting from a strategic management tool to an accountability mechanism so that more meaningful sustainability reports are produced. Stakeholder engagement allows the reporting companies to become more aware of sustainability issues that are informed by their stakeholders while the engaged stakeholders also benefit from the information provided by the reporting companies on the issues, agenda, and performance related to sustainability. Keywords: stakeholder engagement, sustainability reporting, neo-institutional theory

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“…For instance, Pérez et al (2017) study stakeholder silence (power, legitimacy, and urgency) based in the Spanish context and explore the relationship information reported to stakeholders in CSR reports and companies' reputation and find that the higher intensity of CSR reporting does not lead to an improvement in reputation. In turn, reputation risk is the subject of an investigation by Ardiana (2019) who documents that large companies in Australia engage with their stakeholders to manage reputational risk to increase market share and preempt social issues.…”

Section: Stakeholder Influence On Social Disclosuresmentioning

confidence: 99%

Stakeholder Engagement in Corporate Social Practices and Non-Financial Disclosures: A Systematic Literature Review

Zarzycka¹,

Krasodomska²,

Dobija³

2021

CEMJ

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Purpose: The goal of the article is to systematize the literature related to the role of stakeholder engagement in corporate social practices and related disclosures by identifying the main theoretical lenses, research methods, and topics undertaken by authors of articles under scrutiny. Design/Methodology/Approach: The article systematically reviews and discusses existing studies in the area of management, social and environmental accounting, intellectual capital, ethics, and accounting. We identify and subsequently analyze 68 articles published over the years 2010–2020. Findings: According to the study findings, stakeholder theory is most often used as a theoretical background. The survey is the most popular research method, while stakeholder engagement in social practices is the most common research problem investigated by the articles’ authors. Corporate stakeholders’ communication on social media is a new topic that emerged in the literature in the studied period. Research Limitations/Implications: Our analysis is restricted to articles published in journals included in the ABDC Journal Quality List that are ranked B, A, and A* in a 10-years period. Practical Implications: The article’s findings may be useful for researchers and practitioners who deal with corporate social practices, disclosures, and stakeholders’ roles in these processes. Originality/Value: The paper offers an up-to-date literature review, identifies the main themes, research gaps, and provides relevant guidance for future research.

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Stakeholder Engagement in Sustainability Reporting: Evidence of Reputation Risk Management in Large Australian Companies

Cited by 26 publications

References 101 publications

Corporate social responsibility disclosures and reputation risk management post the banking royal commission: a study of the big four banks

Corporate social responsibility disclosures and reputation risk management post the banking royal commission: a study of the big four banks

Conceptualising Stakeholder Engagement in Sustainability Reporting

Stakeholder Engagement in Corporate Social Practices and Non-Financial Disclosures: A Systematic Literature Review

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