Identity Claims and Diffusion of Sustainability Report: Evidence from Korean Listed Companies, 2003-2009

2013 ◽  
Author(s):  
Heejung Byun ◽  
Tae-Hyun Kim
Keyword(s):  
Listed Companies ◽  
And Diffusion ◽  
Sustainability Report

Intellectual Capital Disclosure in Sustainability Reports

2013 ◽  
pp. 195-214 ◽  
Author(s):  
Giovanni Bronzetti ◽  
Romilda Mazzotta ◽  
Graziella Sicoli ◽  
Maria Assunta Baldini
Keyword(s):  
Content Analysis ◽  
Intellectual Capital ◽  
Voluntary Disclosure ◽  
Information Disclosure ◽  
Listed Companies ◽  
Global Reporting Initiative ◽  
Voluntary Disclosures ◽  
Sustainability Reports ◽  
Sustainability Report

The purpose of this chapter is to analyze the level and the quality of voluntary disclosures of Intellectual Capital (IC) in the sustainability reports on a sample of Italian listed companies. The authors conducted an analysis of twelve sustainability reports for two years (2009-2010). These are related to six firms selected among the most capitalized 37 Italian listed companies. To investigate the “level of disclosure,” the authors identified the presence of IC information, while to evaluate the “IC quality,” they constructed a voluntary disclosure index based on content analysis. IC information disclosure is more likely present in sustainability reports of firms with a higher levels of application of the Global Reporting Initiative framework. The results confirm that the sustainability report can adequately represent the intellectual capital, especially in order to understand its role in the firm and the interaction with other variables present in the firm.

SUSTAINABILITY REPORT, OWNERSHIP TYPES, AND COST OF CAPITAL: EVIDENCE ON INVESTORS’ REACTION OF INDONESIAN LISTED COMPANIES

2020 ◽  
Vol 7 (6) ◽  
pp. 1246-1255
Author(s):  
Raisya Arum Sari ◽  
Hilda Rossieta
Keyword(s):  
Perceived Risk ◽  
Cost Of Capital ◽  
Low Cost ◽  
Listed Companies ◽  
Continuous Variable ◽  
Moderating Effect ◽  
Secondary Source ◽  
The Cost ◽  
Sustainability Report ◽  
Ownership Types

Purpose: This research aims to examine investors’ reactions to the Sustainability Report (SR) and the moderating effect of ownership types associated with stakeholders’ interdependence theory. Methodology: This research uses purposive sampling method to choose the samples. The population of the samples is Indonesian listed companies that disclose sustainability reports from 2014 to 2016. This research uses secondary data using several data sources, such as the annual report, financial report, sustainability report, data stream database, and another secondary source. Results: In general, empirical evidence indicate that investors appreciate sound SR performance by the tendency to give a discount on their investment; hence, they charge low Cost of Capital. Also, types of ownership do have a moderating effect on investors’ reaction, suggesting the existence of interdependent among stakeholders group. Implications: This research captures investors' reactions by looking at the Cost of the Capital bear by the company as a proxy for investor reaction on the perceived risk associated with the sustainability issues. Moreover, this research converts the Cost of Capital as a continuous variable into a categorical variable of high and low.

scholarly journals Non-financial reporting in Spain. The effects of the adoption of the 2014 EU Directive

2022 ◽  
Vol 25 (1) ◽  
pp. 3-15
Author(s):  
María-Antonia García-Benau ◽  
Helena-María Bollas-Araya ◽  
Laura Sierra-García
Keyword(s):  
Financial Reporting ◽  
Listed Companies ◽  
Financial Information ◽  
First Year ◽  
Eu Directive ◽  
Sustainability Reports ◽  
Sustainability Report ◽  
Management Report ◽  
Do So

The Directive 2014/95/EU imposes new requirements regarding the disclosure of non-financial information (NFI). The aim of this paper is to analyse the NFI disclosed by Spanish listed companies. This is a pioneering study in Spain, since it was conducted during the first year in which NFI disclosure was mandatory, according to the requirements of the Spanish adaptation of Directive. We determine whether decisions on NFI reporting adopted in this respect (i.e. to do so within the management report or as a separate sustainability report) depend on the company’s characteristics. In addition, we consider whether the content of such reports differs significantly. Findings show that some Spanish companies do not disclose mandatory NFI. Larger and more profitable companies, which belong to specific sectors and have a sustainability committee, are more likely to disclose this information in a sustainability report. The contents of management and sustainability reports present significant differences. La Directiva 2014/95/UE impone nuevos requisitos en cuanto a la divulgación de información no financiera (IFN). El objetivo de este trabajo es analizar la IFN divulgada por las empresas cotizadas españolas. Se trata de un estudio pionero en España, ya que se realizó durante el primer año en el que la divulgación de IFN era obligatoria, según los requisitos de la adaptación española a la mencionada Directiva. Determinamos si las decisiones sobre la presentación de la información no financiera adoptadas al respecto (es decir, hacerlo dentro del informe de gestión o como un informe de sostenibilidad independiente) dependen de las características de la empresa. Además, estudiamos si el contenido de dichos informes difiere significativamente. Los resultados muestran que algunas empresas españolas no divulgan la información no financiera obligatoria. Las empresas más grandes y rentables, que pertenecen a sectores específicos y que tienen un comité de sostenibilidad, son más propensas a divulgar esta información en un informe de sostenibilidad. Los contenidos de las memorias de gestión y de sostenibilidad presentan diferencias significativas.

scholarly journals Social Disclosure and Profitability: Study in Indonesian Companies

JEMBATAN ◽  
2019 ◽  
Vol 16 (1) ◽  
pp. 45-58
Author(s):  
Fida Muthia ◽  
Isnurhadi Isnurhadi
Keyword(s):  
Regression Analysis ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Multiple Regression Analysis ◽  
Causal Relationship ◽  
Multiple Regression ◽  
Listed Companies ◽  
Csr Disclosure ◽  
Corporate Social ◽  
Sustainability Report

We tried to investigate the causal relationship between profitability and corporate social responsibility disclosure.  We choose listed companies under Kompas100 index as our sample to test whether profitability ‘granger cause’ CSR disclosure and whether CSR disclosure ‘granger cause’ profitability. We conduct multiple regression analysis to see the effect. ROA, ROE and NPM are used as the proxy for profitability and the number of lines in sustainability report as the proxy for CSR disclosure.  We find that there is no link between profitability and CSR disclosure and that profitability is not the main reason for company to publish CSR report.  This study is limited to companies listed in Kompas100 index.  The findings of this study can give insights to the managers and investors that there is no link between profitability and CSR disclosure

Governance, firm-level characteristics and their impact on the client’s voluntary sustainability disclosures and assurance decisions

2015 ◽  
Vol 6 (1) ◽  
pp. 54-78 ◽  
Author(s):  
Michael Kend
Keyword(s):  
Corporate Governance ◽  
Voluntary Disclosure ◽  
Audit Committee ◽  
Sustainability Reporting ◽  
Listed Companies ◽  
Matched Pair ◽  
Firm Level ◽  
Content Type ◽  
Assurance Services ◽  
Sustainability Report

Purpose – The purpose of this study is to consider three distinct bodies of literature and uses stakeholder theory as the premise of this study. The first deals with corporate sustainability reporting and voluntary disclosure behaviour, and corporate governance at the firm level, the second deals with the decision to utilize assurance services (voluntary adoption) and the third relates to the choice of auditor/assurance provider. Design/methodology/approach – This study investigates these issues using archival data from some of the Top 200 listed companies in 2010 from the countries Australia and the UK. The final matched-pair sample consists of 220 listed companies. Findings – The study finds that audit client size and the strength of corporate governance structures are significant in explaining the decision to produce a standalone sustainability report. Whereas few of these variables provide any explanatory value on the voluntary decision to assure the sustainability report, the existence of an active and diligent audit committee does have positive significance. Finally, the existence of an active and diligent sustainability committee is significant in explaining the choice of assurance provider where a member of the auditing profession was selected by the firm’s management. Originality/value – Few studies (if any), have found a link between governance characteristics, sustainability report production, and assurance provider. The current study attempts to address this knowledge gap, and also considers the assurance work by professionals outside the auditing profession, and identifies which governance and firm-level characteristics may explain demand for their assurance services. This current study, assists to understand the low incidence of assurance and what might be necessary to increase demand for this type of assurance.

scholarly journals The assurance of sustainability reports and their impact on stock market prices

2021 ◽  
Vol 21 (1) ◽  
pp. 47-60
Author(s):  
María Mar Miralles Quirós ◽  
◽  
José Luis Miralles Quirós ◽  
Julio Daza Izquierdo ◽  
◽  
...  
Keyword(s):  
Content Analysis ◽  
Stock Market ◽  
Stock Prices ◽  
Listed Companies ◽  
Financial Information ◽  
Market Prices ◽  
Social Commitment ◽  
Sustainability Reports ◽  
Verification Process ◽  
Sustainability Report

The publication of non-financial information is a trend in recent decades in listed companies. From this fact, the need arises to provide credibility to the information by verifying an independent professional who provides a guarantee of the published information. Therefore, this article analyses whether the verification of sustainability reports influences the stock prices of Ibex-35 companies. With this aim, a content analysis has been prepared that allows us to quantify aspects as relevant as the commissioning and the objective of the assurance requested by the company, the auditor’s independence or the result of the verification process. The results obtained show that Ibex-35 companies maintain a growing trend in their social commitment and greater recognition of the transfer of verified information to the different stakeholders of the companies. In addition, the efforts made by companies are valued positively by investors, especially in response to the level of assurance requested from the guarantee provider of the sustainability report.

scholarly journals Analysis of Compliance with the Mandatory Sustainability Report in Peruvian Listed Companies

2021 ◽  
Vol 16 (2) ◽  
pp. 84-100
Author(s):  
Julio Hernández-Pajares ◽  
Karina Pocomucha Valdivia
Keyword(s):  
Sustainability Reporting ◽  
Listed Companies ◽  
Mandatory Reporting ◽  
International Standards ◽  
The Other ◽  
Company Size ◽  
Voluntary Reporting ◽  
Compliance Level ◽  
Institutional Influence ◽  
Sustainability Report

Abstract Research on institutional influence on sustainability information indicates that organisations prepare reports voluntarily, following international standards. On the other hand, some countries’ regulation has requested the presentation of mandatory sustainability reporting for listed companies. In Peru, stock market regulations have established the mandatory sustainability report since 2016. The aim of this study is to analyse the nature and the level of compliance of listed Peruvian companies with the sustainability mandatory report at 2017 and 2018. Further, the study seeks to analyse whether company size, profitability, indebtedness, sector, voluntary report, and transnational nature determine the level of compliance with mandatory reporting. The results indicate that the level of reporting compliance is not high; the greatest incidence of fulfilment occurs with respect to reporting labour performance, with suppliers and clients, with a high regulatory and sectoral institutional influence. Likewise, size, profitability, sector, and the companies’ voluntary reporting experience are determinants of the compliance level of mandatory sustainability reporting.

Meridional Circulation, Turbulence, and Diffusion Processes in Stars

1976 ◽  
Vol 32 ◽  
pp. 109-116 ◽  
Author(s):  
S. Vauclair
Keyword(s):  
Convection Zone ◽  
Diffusion Processes ◽  
Meridional Circulation ◽  
Diffusion Time ◽  
Work In Progress ◽  
First Results ◽  
Stellar Envelopes ◽  
And Diffusion ◽  
Turbulence And Diffusion ◽  
Hr Diagram

This paper gives the first results of a work in progress, in collaboration with G. Michaud and G. Vauclair. It is a first attempt to compute the effects of meridional circulation and turbulence on diffusion processes in stellar envelopes. Computations have been made for a 2 Mʘstar, which lies in the Am - δ Scuti region of the HR diagram.Let us recall that in Am stars diffusion cannot occur between the two outer convection zones, contrary to what was assumed by Watson (1970, 1971) and Smith (1971), since they are linked by overshooting (Latour, 1972; Toomre et al., 1975). But diffusion may occur at the bottom of the second convection zone. According to Vauclair et al. (1974), the second convection zone, due to He II ionization, disappears after a time equal to the helium diffusion time, and then diffusion may happen at the bottom of the first convection zone, so that the arguments by Watson and Smith are preserved.

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