Understanding and Contributing to the Enigma of Corporate Social Responsibility (CSR) Assurance in the United States

Casey, Ryan; Grenier, Jonathan H.

doi:10.2139/ssrn.2172519

Cited by 14 publications

(27 citation statements)

References 120 publications

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“…This study opens up new avenues for research, for instance as regards the information value of CSR assurance and assurance quality (Zorio et al, ) for financial analysts’ activity – note that CSR assurance provides higher credibility to the sustainability report (Simnett et al , ; Casey and Grenier, ). Future research based on multi‐country analysis will surely be useful for standard‐setting purposes, on either a voluntary or even mandatory basis, given the latest initiatives in the field (EU, , , ; Fischer and Marsh, ; Soyka, ).…”

Section: Discussionmentioning

confidence: 90%

“…Becchetti et al (), using a sample of US companies, conclude that CSR quality contributes to making earnings forecasts unbiased, especially amongst the top CSR quality companies. Casey and Grenier () find that CSR assurance is associated with lower analyst forecast errors and dispersion as well as lower cost of equity capital.…”

Section: Sustainable Development Csr Reporting and Analyst Forecastsmentioning

confidence: 99%

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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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Section: Discussionmentioning

confidence: 90%

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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“…These companies operate in high impact sectors—that is, they are more exposed to environmental risks and so seek to improve their sustainability commitment to manage those risks and increase user confidence. This is due to the social pressure to disclose bad environmental news (Casey & Grenier, ; Semenova & Hassel, ; van Ekelenburg, ).…”

Section: Results Of Empirical Analysis and Discussionmentioning

confidence: 99%

Useful information for stakeholder engagement: A multivariate proposal of an Industrial Corporate Social Responsibility Practices Index

Amor‐Esteban

Galindo-Villardón

García‐Sánchez

2018

Sustainable Development

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The aim of this paper is to create an industrial corporate social responsibility practices index (ICSRPI) that allows us to determine the level of sustainable business commitment in the main industries. The ICSRPI allows simplification and quantification of corporate social responsibility (CSR) practices; identification of those industries which present greater deficiencies in sustainability systems to facilitate the planning of various improvement actions; and provision of pertinent information on environmental and social issues to guide stakeholders in their decision‐making processes. In this sense, empirically, the ICSRPI reveals that companies from more polluting sectors, such as oil and gas, chemical, paper or mining, are perceived as having high environmental risk and are the leaders in sustainable development. Companies from less polluting sectors, such as the media or financial services, have lower CSR scores; however, they present high values in social issues, giving higher priority to business ethics and the rights of employees.

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“…Prior research suggests that institutional factors are related to the demand for new types of assurance practice (Datt et al. ; Casey and Grenier ; Simnett et al. ).…”

Section: Empirical Evidencementioning

confidence: 99%

Institutional Influence, Transition Management and the Demand for Carbon Auditing: The Chinese Experience

Tang

2018

Australian Accounting Review

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The primary objective of this study is to investigate factors associated with the increase in demand for carbon auditing in China. Based on an analysis of publicly available carbon‐related information and data, the paper documents the large amount of carbon auditing that occurred in the public sector during the period 2009–2013. We find that the creation of carbon institutions and the significant increase in governmental green funding were the main reasons for the emergence of carbon auditing in this period. The change in models of economic development attempting to balance GDP growth and ecosystem protection, in addition to institutional reform, has led carbon auditing from rhetoric to practice. In addition, we show that carbon auditing serves as a tool for the management of transitions and the governance of sustainable socio‐technical and organisational innovation and transformation.

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Understanding and Contributing to the Enigma of Corporate Social Responsibility (CSR) Assurance in the United States

Cited by 14 publications

References 120 publications

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

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

Useful information for stakeholder engagement: A multivariate proposal of an Industrial Corporate Social Responsibility Practices Index

Institutional Influence, Transition Management and the Demand for Carbon Auditing: The Chinese Experience

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