Sustainability Reporting and Varieties of Capitalism

Carnevale, Concetta; Mazzuca, Maria

doi:10.1002/sd.1554

Cited by 23 publications

(25 citation statements)

References 67 publications

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“…Bushman et al, 2004;Carnevale and Mazzuca, 2014;Frias-Aceituno et al, 2013;Hope, 2003;Ioannou and Serafeim, 2012). Common to these approaches is the argument that differences in nation-level institutionssuch as the political, financial or legal system -influence the level and type of corporate disclosure.…”

Section: Accepted Manuscriptmentioning

confidence: 97%

The relevance of national contexts for carbon disclosure decisions of stock-listed companies: a multilevel analysis

Grauel¹,

Gotthardt

2016

Journal of Cleaner Production

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Section: Accepted Manuscriptmentioning

confidence: 97%

The relevance of national contexts for carbon disclosure decisions of stock-listed companies: a multilevel analysis

Grauel¹,

Gotthardt

2016

Journal of Cleaner Production

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“…Most CSR reports are published following the guidelines issued by the Global Reporting Initiative (GRI, ). Indeed, many studies have analysed how companies follow them on a voluntary basis to issue a sustainability report (Hassan and Ibrahim, ), and the impact of this impact on company performance and market value (Carnevale et al , , Carnevale and Mazzuca, ), information asymmetries and capital constraints (Cheng et al , ) or firm reputation (Maignan, ). Some companies provide external assurance to these reports as a way of enhancing credibility, following the voluntary standards set by the International Federation of Accountants (IFAC) and AccountAbility (IAASB, ; AccountAbility, ; Belal, ; Zorio et al, ).…”

Section: Sustainable Development Csr Reporting and Analyst Forecastsmentioning

confidence: 99%

Sustainable Development, Stakeholder Engagement and Analyst Forecasts’ Accuracy: Positive Evidence from the Spanish Setting

Garrido-Miralles

Zorio‐Grima

Benau

2015

Sustainable Development

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This study looks into the effects of voluntary sustainability reporting in analysts’ earnings forecasts as a driver for sustainable development. The methodology used is based on a regression model to test whether the issuance of a CSR stand‐alone report affects analysts’ forecast errors and forecast dispersion. Forecast error refers to the difference between the forecasted earnings per share (EPS) and the actual EPS. Dispersion refers to the standard deviation in EPS forecasts between analysts following the same firm. Our study in the Spanish context includes 527 observations from listed firms and covers the period 2005–2010. We provide evidence that there is a negative statistically significant association between the absolute forecast earnings error and the publication of a sustainability report. However, we find that the CSR reports have lost power in reducing the earnings forecast error if we compare analysts' activity before the financial crisis and during the crisis itself, so we open up a question for future research to check whether this is a consistent trend or whether in times of economic recovery this phenomenon regains power. The main conclusion of this paper points to the importance of sustainable development and stakeholder engagement through the issuance of CSR reports, which can help the smooth running of capital markets in a context of increasing sensitiveness to social responsible investment. Our study in this field is pioneering in the Spanish setting, which is especially interesting given the growing trend to publish CSR reports in this country. Copyright © 2015 John Wiley & Sons, Ltd and ERP Environment

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“…An analysis of literature on philanthropy gives evidence about differences among countries and considers that the varieties of capitalism, the altruistic culture of countries, and religion are among the causes for these differences. For example, Carnevale and Mazzuca (2014) found that pressures from stakeholders to disclose CSR activities are higher in coordinated market economies (such as Germany, Austria, Finland, and the Netherlands) than in liberal market economies (UK). This institutional perspective has also been used to explain differences according to whether the country is a welfare state or the religion in countries (Koos, 2012).…”

Section: Hypothesesmentioning

confidence: 99%

Why and how hotel groups in luxury segments give back to their communities

de‐Miguel‐Molina

Segarra‐Oña

2017

Journal of Tourism Research

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The paper analyses why and how hotel groups become involved in their communities through philanthropic activities. The analysis focuses on hotel groups with brands in the luxury, upper upscale, and upscale segments. The qualitative information disclosed in reports and websites by 243 hotel brands was studied to answer questions about who is involved, how they participate, and who they target. The study then focused on the 130 hotel groups owning these brands, and a qualitative comparative analysis was used to explain the combination of causal conditions explaining why hotel groups participate in their communities. The causal conditions in the analysis included the participation of different stakeholders, the characteristics of the hotel groups, and the culture of the countries. Results indicate that there is a trade-off between customer and employee participation in philanthropy, that customer involvement requires the presence of luxury brands, and that the culture of the countries (religion and altruism) stimulates the philanthropic behaviour of hotel groups.

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Sustainability Reporting and Varieties of Capitalism

Cited by 23 publications

References 67 publications

The relevance of national contexts for carbon disclosure decisions of stock-listed companies: a multilevel analysis

The relevance of national contexts for carbon disclosure decisions of stock-listed companies: a multilevel analysis

Sustainable Development, Stakeholder Engagement and Analyst Forecasts’ Accuracy: Positive Evidence from the Spanish Setting

Why and how hotel groups in luxury segments give back to their communities

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