scholarly journals Corporate social responsibility through sport: a longitudinal study of the FTSE100 companies

2015 ◽  
Vol 5 (3) ◽  
pp. 218-241 ◽  
Author(s):  
Tom Bason ◽  
Christos Anagnostopoulos
Keyword(s):  
Corporate Social Responsibility ◽  
Longitudinal Study ◽  
Social Responsibility ◽  
Multinational Enterprises ◽  
Stock Exchange ◽  
Empirical Studies ◽  
Annual Reports ◽  
Content Type ◽  
Csr Disclosure ◽  
Corporate Social

Purpose – Under growing public scrutiny of their behaviour, the vast majority of multinational enterprises (MNEs) have been undertaking significant investments through corporate social responsibility (CSR) in order to close legitimacy gaps. The purpose of this paper is to provide a descriptive account of the nature and scope of MNEs’ CSR programmes that have sport at their core. More specifically, the present study addresses the following questions. First, how do Financial Times Stock Exchange (FTSE) 100 firms utilise sport as part of their CSR agendas? Second, how do different industries have different approaches to CSR through sport? And third, can the types of CSR through sport be classified? Design/methodology/approach – Centred on legitimacy theory and exploratory in nature, the study employed a content analysis method, and examined three types of document from each of the FTSE100 firms, namely, annual reports, annual reviews and CSR reports over the ten-year period from 2003 to 2012. In total, 1,473 documents were content analysed, thereby offering a sound representation of CSR disclosure of the FTSE100. Findings – From the analysis, three main streams emerged: “Philanthropy”, “Sponsorships” and “Personnel engagement” with the first showing the smallest growth compared with the other main streams. Findings show the general rise in CSR through sport, thereby demonstrating that the corporate world has practically acknowledged that the sporting context is a powerful vehicle for the employment of CSR. Originality/value – Previous empirical studies have sought to investigate CSR through sport, yet they have generally suffered from sampling limitations which have, in turn, rendered the drawing of reliable conclusions problematic. Particularly, the lack of an explicit focus on longitudinality is a typical limitation, meaning that no conclusions can be made regarding the trend. The study outlined in this paper offers the most comprehensive longitudinal study of CSR through sport to date, and thus contributes to the increasing volume of literature that examines the application of CSR in relation to the sport sector.

Do creditors value corporate social responsibility disclosure? Evidence from Ghana

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Christopher Boachie ◽  
Joseph Emmanuel Tetteh
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Risk Mitigation ◽  
Panel Data Analysis ◽  
Debt Financing ◽  
Annual Reports ◽  
Content Type ◽  
Csr Disclosure ◽  
Corporate Social

Purpose Drawing on risk mitigation theory, this study aims to examine the link between corporate social responsibility (CSR) disclosure and the cost of debt financing (CDF). In particular, this paper seeks to determine whether firms with higher CSR disclosure scores have a lower CDF. Design/methodology/approach This paper uses a panel data analysis of non-financial Ghanaian firms listed on the Ghana Stock Exchange from 2006 to 2019. The CSR index constructed from firms’ annual reports and sustainability reports is used as a proxy for the extent of CSR information disclosures by Ghanaian companies. Findings The empirical results demonstrate that CDF is positively related to CSR disclosure scores. Besides, the results show that the levels of long-term debt increase with CSR disclosure in a highly risky industry. However, the finding does not meet the lenders’ expectations in terms of CSR attracting favourable debt financing sources. Research limitations/implications The research is based only on the quantity of the CSR information disclosed by Ghanaian companies and does not account for the quality of the CSR disclosures. The empirical model omits some control variables such as the age of the firm and external business conditions. The results should not be generalized, as the sample was based on three listed industries in Ghana for 2006–2019. Originality/value This study extends the scope of previous studies by examining the importance of CSR disclosures in financing decisions. More precisely, it focuses on the relatively little explored relationship between the extent of CSR disclosures and access to debt financing. Moreover, this study focuses on the rather interesting empirical setting of Ghana, which is characterized by its low level of CSR awareness. Achieving a better understanding of the effects of CSR information is useful for corporate managers desiring to meet lenders’ expectations and attract debt financing sources.

The effect of managerial and institutional ownership on corporate social responsibility disclosure

2018 ◽  
Vol 60 (4) ◽  
pp. 979-987 ◽  
Author(s):  
Nurleni Nurleni ◽  
Agus Bandang ◽  
Darmawati Darmawati ◽  
Amiruddin Amiruddin
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Financial Statements ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Content Type ◽  
Csr Disclosure ◽  
Corporate Social

PurposeThis study aims to analyze the effect of ownership structure that consists of managerial ownership and institutional ownership of the extensive of corporate social responsibility (CSR) disclosure.Design/methodology/approachThe population in this study is manufacturing companies listed in Indonesia Stock Exchange (BEI), as the manufacturing companies are considered to have great potential on environmental damage (Mathews, 2000). The selected sample were the companies which meet certain criteria (purposive sampling) which published the complete annual financial statements from 2011 to 2015. This study used an analysis method using partial least square (WarpPLS) to assess the effect of the structure of ownership consists of managerial ownership and institutional ownership on the extent of the CSR disclosure.FindingsThe results showed that there is a direct effect of a negative and significant correlation between managerial ownership on CSR disclosure, and there is a direct effect of a positive and significant correlation between institutional ownership on CSR disclosure.Originality/valueOriginality of this paper shows PLS (WarpPLS) that applied to determine the effect between variables managerial and institutional ownership on CSR disclosure. This research is collected data financial statements and annual reports of manufacturing companies obtained from the Indonesia Capital Market Reference Center (PRPM), which is located in the Indonesia Stock Exchange (IDX), which there has not been research by the methods and the same location.

scholarly journals Application of Global Reporting Initiative (GRI) Principles for Measuring Quality of Corporate Social Responsibility (CSR) Disclosure: Evidence from Pakistan

2021 ◽  
Vol 13 (20) ◽  
pp. 11409
Author(s):  
Hina Ismail ◽  
Muhammad A. Saleem ◽  
Sadaf Zahra ◽  
Muhammad S. Tufail ◽  
Rao Akmal Ali
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Annual Reports ◽  
Global Reporting Initiative ◽  
Csr Reporting ◽  
Development Agenda ◽  
Csr Disclosure ◽  
Corporate Social

CSR Reporting is an essential mechanism for ensuring the transparency and accountability of companies towards sustainability performance. To further promote that sustainable development agenda, CSR-related regulations and policies have emerged worldwide, including in Pakistan. Therefore this study assesses the quality of corporate social responsibility in annual reports issued by firms listed at the Pakistan Stock Exchange. This study has operationalized the Global Reporting Initiative (GRI) principles for examining the quality of CSR disclosures. The paper sample comprised 540 annual reports of 90 financial or non-financial companies from the years 2012 to 2017. Content analysis is performed to look for six quality principles and measures, i.e., balance, comparability, accuracy, clarity, reliability, and timeliness. Results suggested that most Pakistani firms provide precise and on-time information and put less emphasis on the balance of information and comparable information. Moreover, this study also highlighted that organizations should implement the GRI principle for disclosing qualitative CSR report.

Corporate social responsibility extent and quality: evidence from Jordan

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Belal Fayez Omar ◽  
Hani Alkayed
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Annual Reports ◽  
Manufacturing Companies ◽  
Content Type ◽  
Future Studies ◽  
Before And After ◽  
Csr Disclosure ◽  
Corporate Social

Purpose This study aims to examine the extent and quality of corporate social responsibility (CSR) disclosure in Jordan for the time periods of 2005–2006 and 2014–2015, ultimately establishing whether there was a change in the extent and quality of disclosure practices before and after the new regulations for CSR. Furthermore, this study additionally seeks to determine if the regulations are a major factor in changing CSR disclosure practices, or whether there are other factors for such a change. Design/methodology/approach The annual reports of 55 manufacturing companies (11 sub-sectors) on the Amman Stock Exchange for the years 2005–2006 and 2014–2015 were selected, and a CSR checklist was measured via the construction an index covering 36 items in 4 themes: environmental; human resources; community; and products and others. The study measures the quantity of CSR via the number of sentences and the quality of CSR by the weighting approach (on a scale of 0–3); furthermore, the paired sample t-test and Wilcoxon signed rank tests were used to establish whether there was a change in the extent and quality of CSR disclosure practices. Findings The results of the study revealed that there being a significant increase in the extent and quality of CSR for the period 2014–2015 compared to that of 2005–2006, the most optimal performance being in 2015, bragging an average of 61,41 total sentences per annual report and an average quality score of 1.423. Moreover, detailed analysis of CSR extent and quality by theme reveals that the highest percentage of CSR extent and quality was within the environmental theme, with an average score 28.6% of total sentences in 2014 (extent) and 1.743 in 2015 of total sentences (quality). Research limitations/implications The current study has some limitations, which have implications for future studies. First, this study examined the extent and quality of CSR for only two time frames: before and after regulation. However, a longitudinal study would have provided a wider scope of study. Second, the study focussed only on the industrial sector, thus limiting the results to only this area. Indeed, the exploration of the CSR extent and quality for other sectors (e.g. financial and services) would generalise the results further, allowing for the making of comparisons compare among different sectors. Moreover, the study at hand has focussed solely on annual reports, which could lead to subjectivity, thus reducing the reliability of results. Future studies should thus focus on other means of disclosure (e.g. websites; environmental reports). Practical implications The current mandatory requirements would suggest Jordanian regulators have begun specifying CSR disclosure requirements in an easier, more user-friendly and traceable format. Indeed, the increase in CSR extent and quality for the post-regulations period would increase the need to organise mandatory requirements in CSR. For managers, on the other hand, the study provides the CSR as a strategic tool for reflecting the actual environmental activities, comparing it with the society’s expectations. Moreover, when budgets are limited, managers prioritise CSR activities that yield a positive impact on financial performance by allocating the limited resources in a broad manner. Social implications The results additionally highlights the ways in which the Jordanian industrial companies increase their levels within the environmental theme in CSR for the post-regulations. It could be argued that a great number of companies in the past decade have started adopting environmentally friendly practices and strategies to protect the natural environment, such as greenhouses, extracting non-renewable resources and reducing amount of industrial waste. Originality/value To the best of the authors’ knowledge, there is currently no existing study within Jordan exploring the change of CSR over time – specifically in terms of before and after the regulations. In addition, exploring the quality of CSR using a weighted approach (scale out of 3) is not conducted in Jordanian studies before.

Corporate social responsibility disclosures in Malaysia: evidence from large companies

2017 ◽  
Vol 13 (1) ◽  
pp. 177-202 ◽  
Author(s):  
Abdelkader Sadou ◽  
Fardous Alom ◽  
Hayatullah Laluddin
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Empirical Studies ◽  
Annual Reports ◽  
Future Research ◽  
Government Ownership ◽  
Content Type ◽  
The Government ◽  
Corporate Social

Purpose The purpose of this study is to examine whether there is any improvement in the extent and quality of corporate social responsibility disclosures (CSRD) in Malaysia between 2011 and 2014 and to determine the factors that influence the extent and quality of CSRD in these two years. Also, this study examines the methods of disclosures and the items that largest Malaysian companies addressed. Design/methodology/approach A self-constructed CSR is utilised to measure the extent and quality of CSRD in the annual reports of the top 71 Malaysian companies listed in Bursa Malaysia for the years 2011 and 2014. Multiple regressions along with their associated toolkits for data verification and diagnostic tests are used to assess the improvement in CSRD between 2011 and 2014 and the factors that affect CSRD. Findings Results show a slight increase in the extent and quality of CSRD between 2011 and 2014. With regards to the factors influencing CSRD, only awards are found to be significant in determining the extent and quality of CSRD either in 2011 or in 2014. Board size, ownership concentration, independent non-executives and return on assets influence both the extent and quality of CSRD in 2011. Director ownership and firm size determine the extent and quality of CSRD in 2014. Government ownership only influences the extent of CSRD in 2011. Research limitations/implications Some traditional limitations are found to be considered in future research, such as the use of annual reports as the only source of CSRD information. Results support the legitimacy theory that assumes that Malaysian companies disclose CSR information as a reflection of the incidents that happen in that environment of the firm without ignoring the role of the government in pushing those companies towards being socially responsible by issuing regulations, or in motivating those companies by introducing awards and giving fiscal facilities. Practical implications The results help the policymakers to introduce more awards in some domains that were less addressed by Malaysian companies and also to examine the causes behind the non-influence of the new Malaysian Code on Corporate Governance (MCCG 2012) on CSRD. Originality/value The study can be considered as one of the limited empirical studies that assess the changes in CSRD before and after the issuance of MCCG 2012 in Malaysia.

Corporate social responsibility disclosure and debt financing

2019 ◽  
Vol 20 (4) ◽  
pp. 394-415 ◽  
Author(s):  
Amal Hamrouni ◽  
Rim Boussaada ◽  
Nadia Ben Farhat Toumi
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Debt Financing ◽  
Content Type ◽  
Financing Decisions ◽  
Csr Reporting ◽  
Csr Disclosure ◽  
Corporate Social

Purpose The purpose of this paper is to examine how corporate social responsibility (CSR) reporting influences leverage ratios. In particular, this paper aims to determine whether firms with higher CSR disclosure scores have better access to debt financing. Design/methodology/approach This paper uses a panel data analysis of non-financial French firms listed on the Euronext Paris Stock Exchange and members of the SBF 120 index from 2010 to 2015. The environmental, social and governance (ESG) disclosure scores that are collected from the Bloomberg database are used as a proxy for the extent of ESG information disclosures by French companies. Findings The empirical results demonstrate that leverage ratios are positively related to CSR disclosure scores. In addition, the results show that the levels of long-term and short-term debt increase with the disclosure of ESG information, thus suggesting that CSR disclosures play a significant role in reducing information asymmetry and improving transparency around companies’ ESG activities. This finding meets the lenders’ expectations in terms of extrafinancial information and attracts debt financing sources. Research limitations/implications The research is based only on the quantity of the ESG information disclosed by French companies and does not account for the quality of the CSR disclosures. The empirical model omits some control variables (e.g. the nature of the industry, the external business conditions and the age of the firm). The results should not be generalized, since the sample was based on large French companies for 2010–2015. Practical implications France is a highly regulated context that places considerable pressure on French firms in terms of CSR policies. The French Parliament has adopted several laws requiring transparency in the environmental, social, and corporate governance policies of French firms. In this context, firms often regard CSR policies as constraints rather than opportunities. This study highlights the benefits that result from transparent CSR practices. More precisely, it provides evidence that the high disclosure of ESG information is a pull factor for credit providers. Originality/value This study extends the scope of previous studies by examining the value and relevance of CSR disclosures in financing decisions. More precisely, it focuses on the relatively little explored relationship between the extent of CSR disclosures and access to debt financing. This paper demonstrates how each category of CSR disclosure information (e.g. social, environmental and governance) affects access to debt financing. Moreover, this study focuses on the rather interesting empirical setting of France, which is characterized by its highly developed legal reforms in terms of CSR. Achieving a better understanding of the effects of ESG information is useful for corporate managers desiring to meet lenders’ expectations and attract debt financing sources.

The Indonesian Government’s coercive pressure on labour disclosures

2015 ◽  
Vol 6 (4) ◽  
pp. 475-497 ◽  
Author(s):  
Fitra Roman Cahaya ◽  
Stacey Porter ◽  
Greg Tower ◽  
Alistair Brown
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Well Being ◽  
Listed Companies ◽  
Global Reporting Initiative ◽  
Content Type ◽  
The Government ◽  
Csr Disclosure ◽  
Corporate Social

Purpose – This paper aims to focus on corporate social responsibility and workplace well-being by examining Indonesian Stock Exchange (IDX)-listed companies’ labour disclosures. Design/methodology/approach – Year-ending 2007 and 2010 annual report disclosures of 31 IDX-listed companies are analysed. The widely acknowledged Global Reporting Initiative (GRI) guidelines are used as the disclosure index checklist. Findings – The results reveal that the overall labour disclosure level increases from 21.84 per cent in 2007 to 30.52 per cent in 2010. The levels of four of the five specific labour disclosures also increase with employment being the exception. The results further show that the Indonesian Government does not influence the increase in the levels of the overall labour disclosure or the four categories showing increased disclosure but, surprisingly, does significantly affect the decrease in the level of the employment category. Research limitations/implications – It is implied that the government is at best ambiguous given that, on one side, the government regulates all corporate social responsibility (CSR) activities and reporting but appears to coercively pressure companies to hide employment-specific issues. Practical implications – It is implied that Indonesian companies need to have “strong and influential” independent commissioners on the boards to counter any possible pressures from the government resulting in lower disclosure levels. Originality/value – This paper provides insights into the “journey” of labour-related CSR disclosure practices in Indonesia and contributes to the literature by testing one specific variant of isomorphic institutional theory, namely, coercive isomorphism.

scholarly journals The impact of web marketing on corporate social responsibility (CSR) and firms' performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohammed Muneerali Thottoli ◽  
K.V. Thomas
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Listed Companies ◽  
Annual Reports ◽  
Content Type ◽  
Web Marketing ◽  
Corporate Social ◽  
Google Search ◽  
The Impact

PurposeThe current study seeks to examine the impact of web marketing (through the company's website) on corporate social responsibility (CSR) and firms' performance across companies listed in the Muscat Stock Exchange (MSX), Oman.Design/methodology/approachThis research analyses qualitative and exploratory data taken from companies' website, annual reports (the financial year 2019), Google search and CSR report from 69 out of total 117 listed companies in the MSX to analyze the impact of web marketing on CSR and firms' performance proxied by return of assets (ROA), return of equity (ROE) and Tobin's Q (TQ).FindingsWeb marketing on CSR positively affects firms' performance. Especially, the positive effect of web marketing on firms' performance is stronger for listed companies. Web marketing enhances financial performance proxied by ROA, ROE and TQ.Practical implicationsThe research findings provide new insights that are able to enlighten governing bodies in Oman to make standardized compulsory CSR spending (say, 0.5% on profit after tax) by listed companies in MSX.Originality/valueThis research presents evidence that web marketing on CSR can increase firms' performance and brand image among stakeholders. This is the first study to examine the impact of web marketing on CSR and firms' performance using empirical data in Oman.

Corporate political connection and corporate social responsibility disclosures

2018 ◽  
Vol 31 (2) ◽  
pp. 725-744 ◽  
Author(s):  
Mohammad Badrul Muttakin ◽  
Dessalegn Getie Mihret ◽  
Arifur Khan
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
The State ◽  
Annual Reports ◽  
Political Connection ◽  
Legitimacy Theory ◽  
Corporate Sector ◽  
Content Type ◽  
Csr Disclosure ◽  
Corporate Social

Purpose The purpose of this paper is to examine the association of corporate political connection with the level of voluntary corporate social responsibility (CSR) disclosures to determine how the relationships between the state and the corporate sector influence CSR engagement. Design/methodology/approach Based on a neo-pluralist view of legitimacy theory, which conceptualizes the state as a concentration of power amenable to exploitation by the corporate sector, the study develops and empirically tests a hypothesis that CSR disclosures are inversely associated with political connection. A sample of 936 firm-year observations is used with data collected from annual reports of companies listed on the Dhaka Stock Exchange in Bangladesh from 2005 to 2013. Findings Results indicate that corporate political connection is associated with reduced CSR disclosures. This finding suggests that the perceived need for CSR disclosures as a legitimation strategy diminishes for politically connected firms. The finding supports a neo-pluralist argument that political connection could enable firms to eschew stakeholder pressure associated with potential legitimacy threats originating from poor CSR performance. This conclusion challenges the pluralist view of legitimacy theory that considers the state as a neutral arbiter resolving conflict among stakeholder groups in society. Originality/value The study makes a significant contribution to the literature by developing a neo-pluralist theorization of voluntary CSR disclosures within legitimacy theory and empirically testing it. Because prior empirical CSR disclosure research is largely underpinned by the pluralistic conception of society, examining this phenomenon from a neo-pluralist perspective enables a more complete understanding of CSR disclosure behaviors of firms.

Corporate governance effects on corporate social responsibility disclosure: empirical evidence from heavy-pollution industries in Iran

2019 ◽  
Vol 15 (2) ◽  
pp. 208-225 ◽  
Author(s):  
Mohammad Ali Fallah ◽  
Fayegh Mojarrad
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Audit Committee ◽  
Ownership Concentration ◽  
Annual Reports ◽  
Content Type ◽  
Heavy Pollution ◽  
Csr Disclosure ◽  
Corporate Social

PurposeThis paper aims to investigate the relationship between corporate governance (CG) and corporate social responsibility (CSR) disclosure in a sample of 64 companies listed on the Tehran Stock Exchange.Design/methodology/approachThis study opts for a descriptive-correlational method. To measure the extent of CSR disclosure and CG variables, companies’ annual reports and websites during 2014-2015 are content analyzed by applying a 64-item checklist. Boards’ size, age, tenure and independence, CEO duality, audit committee (AC) composition and ownership concentration are considered as CG variables. To ascertain the CG–CSR disclosure relationship, multivariate linear regression analysis is incorporated.FindingsBased on the results, audit committee composition, board tenure and ownership concentration positively influence CSR disclosure level with ownership concentration as the most influential variable, that is, in companies with majority shareholders ownership, managers tend to disclose more CSR information.Research limitations/implicationsOnly annual reports and company websites are analyzed. Researchers are encouraged to apply other methods such as interview and to consider other variables, such as board diversity, proportion of female members and the extent of shareholders activities, to measure CG.Practical implicationsThis paper provides implications at the policy level to identify governance mechanisms to increase CSR awareness of heavy-pollution industries in developing countries.Originality/valueStudies rarely examined CSR reporting in Iran, particularly among heavy-pollution companies. Besides, the paper highlights the role of majority shareholders and non-executive AC members in CSR disclosure.

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