Corporate Social Responsibility in Context: The Case for Compulsory Sustainability Disclosure for Listed Public Companies in Australia?

2007 ◽  
Author(s):  
Juliette Overland
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Public Companies ◽  
Sustainability Disclosure ◽  
Corporate Social

Assurance of the Sustainability Reports from the Chemical Industry Practices and trends

2018 ◽  
Vol 69 (3) ◽  
pp. 636-641
Author(s):  
Ionela Corina Chersan ◽  
Gabriela Ignat ◽  
George Ungureanu ◽  
Ion Sandu ◽  
Carmen Luiza Costuleanu ◽  
...  
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Chemical Industry ◽  
Sustainability Disclosure ◽  
Sustainability Reports ◽  
Integrated Or ◽  
Corporate Social

This study was carried out to identify the most recent practices in the audit of the sustainability reports of the companies from the chemical industry, whether they are integrated or not. For this purpose, we analyzed the annual/sustainability reports list available on the GRI website under the name GRI Sustainability Disclosure Database. As the results of the study, we argue that, due to environmental and social hazards associated with chemical industries, a duty to report on Corporate Social Responsibility (CSR) and to audit these reports according to specified standards would need to be introduced.

scholarly journals Corporate Social Responsibility Proposals and Firm Valuation

2021 ◽  
Vol 9 (3) ◽  
pp. 45
Author(s):  
Pyung Kun Chu
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Causal Effect ◽  
Firm Valuation ◽  
Public Companies ◽  
Shareholder Proposals ◽  
The Board Of Directors ◽  
Corporate Social

Corporate social responsibility (CSR) is a topic which has recently been attracting an increasing amount of attention with respect to corporate operations, and shareholder proposals on CSR are also one of the main types of proposals at firms’ annual shareholder meetings. However, even though the frequency of CSR proposals at annual meetings is comparable to other types of shareholder proposals, the approval rate of CSR proposals is significantly lower than that of other types of proposals, meaning that most CSR proposals are not recommended by the annual meeting to the board of directors for further approval. Motivated by this stylized fact, this study investigates the value of the submission of CSR shareholder proposals. Using a regression discontinuity design with shareholder proposal data of US public companies between 2006 and 2019, this study examines the importance of shareholders’ interest in CSR for firm valuation. Interestingly, while the CSR proposals themselves are typically not approved, the submission of CSR proposals by shareholders at annual meetings matters for the value impact of other types of shareholder proposals. More specifically, the causal effect of approving a corporate governance proposal on shareholder value is significantly positive only if the corporate governance proposal is voted together with a CSR proposal at the same meeting, i.e., the presence of CSR proposals is important for firm value through its interrelations with corporate governance proposals. This shows that the submission of CSR shareholder proposals has significant value implications, even if the CSR proposals themselves are not approved at annual meetings.

The Determinants of Sustainability Reporting of the Portuguese Public Sector Entities

2019 ◽  
pp. 653-678
Author(s):  
Maria da Conceição C. Tavares ◽  
Lúcia Lima Rodrigues
Keyword(s):  
Corporate Social Responsibility ◽  
Content Analysis ◽  
Public Sector ◽  
Social Responsibility ◽  
Sustainability Reporting ◽  
Global Reporting Initiative ◽  
Sustainability Disclosure ◽  
Sustainability Reports ◽  
Csr Disclosure ◽  
Corporate Social

Based on legitimacy and on stakeholder theories, this study analyses the level of disclosure of Corporate Social Responsibility (CSR) in the sustainability reports of the Portuguese public sector entities for the years 2008 and 2012, prepared in accordance with the guidelines of the Global Reporting Initiative (GRI). The authors also aim to determine the factors that influence this level of disclosure. Using content analysis, an index of CSR disclosure was constructed based on the sustainability reports of 58 public sector entities. It was concluded that the level of sustainability disclosure is related to the organisation's size, industry, awards and certifications received, and visibility measured in terms of consumer proximity. This study offers new empirical evidence of a different context – public sector entities in Portugal, providing valuable insights into the factors that explain CSR disclosures in public sector entities.

Does Warsaw Stock Exchange value corporate social responsibility?

2016 ◽  
Vol 12 (3) ◽  
pp. 611-622 ◽  
Author(s):  
Jacek Lipiec
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
Future Research ◽  
Public Companies ◽  
Content Type ◽  
Exchange Value ◽  
Warsaw Stock Exchange ◽  
Corporate Social

Purpose This paper aims to examine the performance of corporate social responsibility (CSR) portfolio at the Warsaw Stock Exchange. Design/methodology/approach This paper uses the CSR portfolio of public companies that was selected in a three-step procedure. In total, 23 companies were selected and formed a CSR portfolio that is traded on the Warsaw Stock Exchange under the Respect Index. The Capital Asset Pricing Model (CAPM) is used to compare returns of CSR companies with respect to the market. The performance of this portfolio is measured in the period from 2010 to 2012. Findings This paper finds that the CSR portfolio measured under the Respect Index outperformed market in all time periods from 2010 to 2012. In addition, in 2010, the CSR portfolio exceptionally outperformed the market by almost 80 per cent. In 2011, even though the market was down, the CSR portfolio reported lesser losses: −0.93 vs −1.73 per cent. In the following year, the market regained and the CSR portfolio again outperformed the market by 14 per cent. This paper also finds that the CSR portfolio is more sensitive to systematic risk than to specific risk. In addition, the CSR securities move according to the market trend. Research limitations/implications The limitation of this paper is attributed to a cause-and-effect relationship. In other words, it did not answer whether adopting CSR led to higher profitability or profitability reflected an awareness of market conditions that favored the adoption of CSR. The future research should focus on this issue and indicate whether investors prioritize CSR over profits or vice versa. Practical implications The results indicate that investments in CSR portfolio companies bring abnormal returns to investors. In addition, the CSR portfolio may resist market downturns and even bring exceptional profits to investors. Originality/value This study explains the CSR portfolio’s performance on the Warsaw Stock Exchange by using the CAPM.

Investigating a Potential Relationship between Corporate Social Responsibility and Financial Growth

2020 ◽  
Vol 22 ◽  
Author(s):  
Kiran Neenad Shah ◽  
Emily Fischman ◽  
Maximilian Mathers ◽  
Stephanie Miller ◽  
Ashley Sepulveres ◽  
...  
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Consumer Choice ◽  
Future Research ◽  
Public Companies ◽  
Sales Revenue ◽  
Potential Relationship ◽  
Modern Business ◽  
Financial Growth ◽  
Corporate Social

Modern business has recently trended towards a focus on corporate social responsibility (CSR) due to a growing sense that companies should uphold ethical standards not only for their direct stakeholders, but also for society at large. This study therefore investigated whether a relationship between companies’ CSR/philanthropic efforts and financial growth may exist. The six public companies investigated (Alphabet, Apple, Bank of America, JP Morgan Chase, Kroger, and Walmart) were the six highest-ranked on the 2019 Fortune 500 list that also appeared on the 2018 Fortune Change the World list. One notable philanthropic effort for each company was selected. Financial statements from the year before, during, and after the philanthropic efforts began were examined and sales revenue was recorded. A positive correlation was found between Apple’s and Kroger’s financial success and philanthropic efforts but not for the other four companies. This may indicate that CSR is a strong factor in how customers perceive those two companies. The weak correlation found between these two variables for the four remaining firms may demonstrate that the relationship between CSR and consumer choice is weak or nonexistent. The results of this study are intended to prepare future research involving the potential relationship between corporate social responsibility and sales revenue, by providing a framework for related statistics and information among top philanthropic public corporations.

scholarly journals Corporate Social Responsibility and Intellectual Capital: Sources of Competitiveness and Legitimacy in Organizations´ Management Practices

2019 ◽  
Vol 11 (20) ◽  
pp. 5843 ◽  
Author(s):  
Gallardo-Vázquez ◽  
Valdez-Juárez ◽  
Lizcano-Álvarez
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Intellectual Capital ◽  
Structural Equation ◽  
Management Practices ◽  
Equation Model ◽  
Public Companies ◽  
Tangible Assets ◽  
Private And Public ◽  
Corporate Social

Two important managerial strategies have shaped organizations’ initiatives in recent years: corporate social responsibility (CSR) and intellectual capital (IC). Organizations’ implementation of voluntary CSR practices implies a commitment that goes beyond mere actions and it constitutes a step toward securing benefits for these entities. In contrast, IC refers to a set of intangible organizational assets (i.e., human, structural, and relational capital) that are capable of providing greater value than tangible assets do. Putting both strategies into practice independently of each other is a source of competitive advantages for organizations, including more legitimacy in their sector. However, the present study sought to explore the possibility of strengthening the link between CSR and IC by integrating socially responsible practices into the configuration of each IC dimension. Thus, this research’s objective was to determine whether CSR initiatives can generate improvements in key IC components in organizations. The study included extremely diverse Spanish organizations ranging from small and medium-sized enterprises to large firms, private and public companies, and organizations serving multiple purposes, such as universities—all of which were implementing CSR initiatives. The partial least squares technique was applied to estimate a structural equation model to achieve the objective. The findings include that CSR improves organizations’ IC and that the resulting competitiveness is a source of legitimacy.

scholarly journals Исследование закономерностей развития корпоративной социальной ответственности в России на основе специализированного рейтинга

2020 ◽  
pp. 150-159
Author(s):  
Иделя Бадыкова
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Oil And Gas ◽  
Negative Impact ◽  
Socially Responsible ◽  
Public Companies ◽  
Significant Negative Impact ◽  
Corporate Social ◽  
Oil And Gas Sector ◽  
Disclosure Rate

Целью данного исследования выступает изучение тенден- ций, связанных с уровнем социальной ответственности российских компаний. Для решения поставленных задач использована авторская методика составления рейтинга раскрытия информации о корпоративной социальной от- ветственности. Полученные результаты свидетельству- ют о том, что в целом компании из выборочной совокупно- сти раскрывают около 75% рассматриваемых критериев. При этом лидеры рейтинга представлены большей частью секторами добычи и переработки нефти и газа, химиче- ской промышленности и электроэнергетики, что может свидетельствовать об их стремлении отчасти компенси- ровать наносимый обществу и экологии вред. As part of the research a specialized rating of the corporate social responsibility was compiled based on the author’s methodology. Data was collected for the sample of 106 Russian public companies in the non-financial sector. On average, the disclosure rate of all indicators is as high as 75%. The most responsible companies, disclosing information on 25 to 27 out of 27criteria, were identified to form the list of 29 companies. Most of them appear to belong to oil and gas sector, chemical and energy industries. One of the possible explanations for that trend is that these areas tend to attract negative attention of the society. Accordingly, it can be assumed that the companies from the mentioned sectors act reasonably to compensate for their negative impact on the environment and society. It should also be noted that the companies represented by these sectors are usually large and have sufficient resources. According to the inadequate resources theory, companies participate in socially responsible projects when they have the resources to do so. However, this theory is relevant for the emerging markets, while stakeholder and signaling theories are more equitable for leading economies. The companies included into the sample show the highest level of the environmental impact disclosure, which may be explained by the fact that most of the companies are industrial with significant negative impact on the environment. In general, this study is a subject to a number of disadvantages. Firstly, the sample was quite small. Accordingly, the conclusions presented may be somewhat skewed and limited. Secondly, econometric models should be used. to present more reasonable results. That is planned to be the next stage of the research. Nevertheless, in our opinion, in general, the results obtained reflect the main trends in the development of the corporate social responsibility in Russia.

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