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Determinants of Corporate Social Responsibility Disclosure Ratings by Spanish Listed Firms

Journal of business ethics, 2009-08, Vol.88 (2), p.351-366 [Peer Reviewed Journal]

Copyright 2009 Springer ;Springer Science+Business Media B.V. 2008 ;Springer Science+Business Media B.V. 2009 ;ISSN: 0167-4544 ;EISSN: 1573-0697 ;DOI: 10.1007/s10551-008-9968-9 ;CODEN: JBUEDJ

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Title:
Determinants of Corporate Social Responsibility Disclosure Ratings by Spanish Listed Firms
Author: Reverte, Carmelo
Subjects: Accountability ; Accounting ; Business and Management ; Business audits ; Business Ethics ; Business structures ; Capital markets ; Chemicals industries ; Corporate social responsibility ; corporate social responsibility disclosure ; Corporations ; Disclosure ; Ecological sustainability ; Education ; Environmental accounting ; Ethics ; Financial leverage ; Financial reporting ; Green businesses ; Information ; ISO standards ; Legitimacy ; Management ; Management principles ; Perceptions ; Philosophy ; Quality of Life Research ; Social responsibility ; Spain ; Stakeholders ; Studies ; Sustainability reporting
Is Part Of: Journal of business ethics, 2009-08, Vol.88 (2), p.351-366
Description: The aim of this paper is to analyze whether a number of firm and industry characteristics, as well as media exposure, are potential determinants of corporate social responsibility (CSR) disclosure practices by Spanish listed firms. Empirical studies have shown that CSR disclosure activism varies across companies, industries, and time (Gray et al., Accounting, Auditing & Accountability Journal 8(2), 47-77, 1995; Journal of Business Finance & Accounting 28(3/4), 327-356, 2001; Hackston and Milne, Accounting, Auditing & Accountability Journal 9(1), 77—1996; Cormier and Magnan, Journal of International Financial Management and Accounting 1(2), 171-195, 2003; Cormier et al., European Accounting Review 14(1), 3—39, 2005), which is usually justified by reference to several theoretical constructs, such as the legitimacy, stakeholder, and agency theories. Our findings evidence that firms with higher CSR ratings present a statistically significant larger size and a higher media exposure, and belong to more environmentally sensitive industries, as compared to firms with lower CSR ratings. However, neither profitability nor leverage seem to explain differences in CSR disclosure practices between Spanish listed firms. The most influential variable for explaining firms' variation in CSR ratings is media exposure, followed by size and industry. Therefore, it seems that the legitimacy theory, as captured by those variables related to public or social visibility, is the most relevant theory for explaining CSR disclosure practices of Spanish listed firms.
Publisher: Dordrecht: Springer
Language: English
Identifier: ISSN: 0167-4544
EISSN: 1573-0697
DOI: 10.1007/s10551-008-9968-9
CODEN: JBUEDJ
Source: ProQuest One Psychology
AUTh Library subscriptions: ProQuest Central
Alma/SFX Local Collection
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Determinants of Corporate Social Responsibility Disclosure Ratings by Spanish Listed Firms

Copyright 2009 Springer ;Springer Science+Business Media B.V. 2008 ;Springer Science+Business Media B.V. 2009 ;ISSN: 0167-4544 ;EISSN: 1573-0697 ;DOI: 10.1007/s10551-008-9968-9 ;CODEN: JBUEDJ

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