scholarly journals The Relationship between Corporate Sustainability Disclosure and Firm Financial Performance in Johannesburg Stock Exchange (JSE) Listed Mining Companies

2019 ◽  
Vol 11 (16) ◽  
pp. 4496 ◽  
Author(s):  
Tafadzwa Mark Wasara ◽  
Fortune Ganda
Keyword(s):  
Return On Investment ◽  
Stock Exchange ◽  
Corporate Sustainability ◽  
Environmental Disclosure ◽  
Corporate Social Disclosure ◽  
Johannesburg Stock Exchange ◽  
Sustainability Disclosure ◽  
Corporate Social ◽  
The Relationship ◽  
Social Disclosure

Whether corporate sustainability disclosure (CSD) affects profitability remains indistinct to many firms. This paper examines the relationship between corporate sustainability disclosure and return on investment. The sample of this study consisted of ten Johannesburg Stock Exchange (JSE)-listed mining companies, and the data was extracted from sustainability reports for a period of five years from 2010 to 2014. In this regard, data collection was undertaken by the adoption of a content analysis approach. A multi-regression analysis was used to analyze the relationship between environmental disclosure and return on investment. The same statistical mechanism was employed to determine the association involving social disclosure and return on investment. Results show that there is a negative relationship between environmental disclosure and return on investment. On the other hand, the research reveals that there is also a positive association between social disclosure and return on investment. This implies that an increase in corporate reporting of social issues results in heightened financial performance through an increase in return on investment. This study recommends the adoption of corporate social disclosure as it will encourage firms to be socially responsible, while also generating financial benefits. Further studies can be conducted about the change from voluntary corporate social disclosure to mandatory disclosure.

scholarly journals Faktor-Faktor Yang Mempengaruhi Corporate Social Disclosure Pada Perusahaan Manufaktur Di London Stock Exchange

2020 ◽  
Vol 3 (1) ◽  
pp. 30
Author(s):  
Siti Markhamah ◽  
Indah Fajarini Sri Wahyuningrum
Keyword(s):  
Stock Exchange ◽  
Analysis Tool ◽  
Manufacturing Companies ◽  
Firm Age ◽  
London Stock Exchange ◽  
Corporate Social Disclosure ◽  
Negative Effect ◽  
And Gender ◽  
Corporate Social ◽  
Social Disclosure

The purpose of this study was to analyze the influence of firm age, leverage, profitability, liquidity, and gender on corporate social disclosure. Corporate social disclosure is measured using content analysis methods based on GRI Standards 2016. This research is based on a quantitative method using multiple linier regression analysis. The population of this study is manufacturing companies listed on London Stock Exchange in 2015-2017. The data analysis tool used is the IBM SPSS 21 program. The conclusion of this study is that leverage variable has a significant negative effect on corporate social disclosure, while firm age, profitability, liquidity, and gender variables have no significant effect on corporate social disclosure. The results showed that leverage has a negative and significant effect on corporate social disclosure. Firm age, profitability, liquidity, and gender have not a significant effect on corporate social disclosure.

Corporate social responsibility disclosure and information asymmetry: does boardroom attributes matter?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Amal Hamrouni ◽  
Mondher Bouattour ◽  
Nadia Ben Farhat Toumi ◽  
Rim Boussaada
Keyword(s):  
Information Asymmetry ◽  
Gender Diversity ◽  
Moderating Effect ◽  
Board Independence ◽  
Environmental Disclosure ◽  
Content Type ◽  
Csr Disclosure ◽  
Corporate Social ◽  
The Relationship ◽  
Social Disclosure

PurposeThe current study aims to investigate the relation between corporate social responsibility (CSR) and information asymmetry, as well as the moderating effect of board characteristics (gender diversity, size and independence) on this relationship.Design/methodology/approachThis paper uses a panel data regression analysis with the system generalized method of moments (SGMM) estimator of nonfinancial French firms included in the SBF 120 index. The environmental and social disclosure scores are collected from the Bloomberg database, while financial data are collected from the FactSet database.FindingsThe empirical results demonstrate that environmental disclosure has a positive impact on the level of information asymmetry, while social disclosure has no effect on the information environment. Gender diversity and board independence negatively impact the opacity index, while board size has a positive effect. The presence of women in board composition has a substitution effect on the relationship between environmental disclosure and information asymmetry. There is no moderating effect of board size on the association between CSR disclosure and information asymmetry. However, the proportion of independent female directors and board independence operates as substitutes to social disclosure on reducing information asymmetry.Research limitations/implicationsAlthough the models include the most common control variables used in the literature, they omit some variables. Second, the results should be interpreted with caution and should not be generalized to the entire stock market since the sample is based on large French companies.Practical implicationsThe results of this study may be of interest to managers, investors and French market authorities since France is characterized by highly developed laws and reforms in the area of CSR. In addition, the paper leads to a better understanding of how women on the board, in particular, independent female directors, affect the relationship between CSR disclosure and information asymmetry. This could be of interest to French authorities, which has encouraged the appointment of women through the adoption of the Copé–Zimmermann law.Originality/valueFirst, to the best of the authors' knowledge, this is the first study to explore the moderating effect of board characteristics on the relationship between CSR and information asymmetry. Second, unlike previous studies using individual proxies to measure information asymmetry, the authors favor the opacity index of Anderson et al. (2009). They calculate this index by including a fifth individual measure, namely, share price volatility. The opacity index better describes the information environment of companies than individual measures since it reflects the perceptions of investors and analysts together.

scholarly journals Effect of Intellectual Capital, Corporate Sustainability Disclosure, and Corporate Governance To The Value of The Company: Empirical Study on Registered SOE in Indonesia Stock Exchange

2018 ◽  
Vol 10 (2) ◽  
pp. 35
Author(s):  
Ronald Tauviek Andi Kasim ◽  
Djokosantoso Moeljono ◽  
Jangkung Handoyo Mulyo
Keyword(s):  
Corporate Governance ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Corporate Sustainability ◽  
Company Size ◽  
Control Variables ◽  
Corporate Values ◽  
Sustainability Disclosure ◽  
Corporate Social ◽  
Determine Effect

The main purpose of the company’s operation today is to maximize the value of the company. Corporate value is not only influenced by economic performance, but can come from performance derived from social activities. But in reality, it eventually leads to a conflict of interest that occurs within the company, so that necessary to implement mechanisms to reduce the conflict. The purpose of this research to provide evidence to determine effect of intellectual capital, corporate sustainability disclosure, and corporate governance to corporate values with company size and leverage as control variables. This research can provide benefits as knowledge related to how wide the company pursues intellectual capital, corporate social responsibility, and corporate governance in increasing the value of the company. This research samples is focused on state owned enterprises listed in Indonesia Stock Exchange for period 2013 – 2016 with total 48 data used in this research. This research use multiple regression to test the hypothesis. The result of this research is intellectual capital and corporate sustainability disclosure have positively influence towards corporate values. Corporate governance has no influence towards corporate values. For control variables, company size has no influence towards corporate values and leverage has negatively influence towards corporate values.

scholarly journals The determinants of CSR disclosure of firms listed on the JSE: A focus on firms meeting the SRI index criteria

2015 ◽  
Vol 12 (2) ◽  
pp. 135-148 ◽  
Author(s):  
Gciniwe Khumalo ◽  
Lucian J. Pitt
Keyword(s):  
Social Responsibility ◽  
Best Practice ◽  
Stock Exchange ◽  
Media Exposure ◽  
Legitimacy Theory ◽  
Johannesburg Stock Exchange ◽  
Drivers Of Csr ◽  
Csr Disclosure ◽  
Corporate Social ◽  
The Relationship

This paper tests the relationship between the firms’ corporate social responsibility (CSR) disclosures, the extent of media exposure it enjoys and its size, profitability and leverage. The study is confined to firms who meet the Johannesburg Stock Exchange (JSE) criteria for inclusion in its Social Responsibility Index (SRI) and as such the focus is on those firms who are perceived to display best practice with regard to social responsibility. The objective of the study is to determine which factors act as drivers for CSR disclosure. The study uncovered statistically significant positive relationships between CSR disclosures and industry environmental impact as well as media exposure. Legitimacy theory was found to best explain the drivers of CSR disclosure among listed companies in South Africa

scholarly journals Effect of Intellectual Capital, Corporate Sustainability Disclosure, and Corporate Governance To The Value of The Company: Empirical Study on Registered SOE in Indonesia Stock Exchange

2018 ◽  
Vol 10 (2) ◽  
pp. 60
Author(s):  
Kenny Ardillah
Keyword(s):  
Corporate Governance ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Corporate Sustainability ◽  
Company Size ◽  
Control Variables ◽  
Corporate Values ◽  
Sustainability Disclosure ◽  
Corporate Social ◽  
Determine Effect

The main purpose of the company's operation today is to maximize the value of the company. Corporate value is not only influenced by economic performance, but can come from performance derived from social activities. But in reality, it eventually leads to a conflict of interest that occurs within the company, so that necessary to implement mechanisms to reduce the conflict. The purpose of this research to provide evidence to determine effect of intellectual capital, corporate sustainability disclosure, and corporate governance to corporate values with company size and leverage as control variables. This research can provide benefits as knowledge related to how wide the company pursues intellectual capital, corporate social responsibility, and corporate governance in increasing the value of the company. This research samples is focused on state-owned enterprises listed in Indonesia Stock Exchange for period 2013 – 2016 with total 48 data used in this research. This research use multiple regression to test the hypothesis. The result of this research is intellectual capital and corporate sustainability disclosure have positively influence towards corporate values. Corporate governance has no influence towards corporate values. For control variables, company size has no influence towards corporate values and leverage has negatively influence towards corporate values.

RESPONSABILIDAD SOCIAL EMPRESARIAL CORPORATIVA BUSINESS CORPORATE SOCIAL RESPONSIBILITY

2017 ◽  
Vol 25 (2) ◽  
pp. 45
Author(s):  
Henry Mamfredo Zambrana Flores
Keyword(s):  
Social Responsibility ◽  
Corporate Sustainability ◽  
Business Management ◽  
Social Changes ◽  
Social Investment ◽  
Close Relationship ◽  
Critical Issues ◽  
Corporate Social ◽  
The Relationship ◽  
Los Grupos

La responsabilidad social empresarial (RSE) es un concepto con el cual las empresas deciden voluntariamente incluirse en el logro de una sociedad mejor y un medio ambiente más saludable. Requiere de una continua adaptación a los cambios que se producen en su entorno, con su mirada puesta en la sostenibilidad empresarial que beneficie a la empresa y a las partes interesadas. El presente trabajo aborda, en primer lugar, los inicios y evolución del concepto de RSE, mostrando la estrecha relación con los cambios económicos y sociales. La responsabilidad social empresarial se inició con acciones filantrópicas, seguidas de acciones de inversión social. Sin embargo, en la actualidad, se plantea la realización de prácticas responsables integradas a la gestión empresarial, lo que propone nuevos modelos de gestión empresarial. Para comprender la noción de RSE en los negocios, se ha considerado necesario la realización de un diagnóstico en profundidad. Para ello, se muestran las diversas teorías y modelos de RSE corporativa; los grupos de interés y la RSE para la gestión; su interrelación con las normas legales actuales; y las herramientas de aplicación. Si se quiere ser competitivo, es necesario entender la empresa como un ciudadano corporativo con deberes y derechos, así como desafíos y aspectos críticos en su gestión. Finalmente, se hace mención a una serie de casos de RSE en los ámbitos internacional, nacional y regional para comprender el accionar y la respuesta de diversas empresas frente a los desafíos de su entorno y las necesidades de sus grupos de interés. ABSTRACTCorporate Social Responsibility (CSR) is a concept whereby companies decide voluntarily to include themselves the achievement of a better society and a healthier environment. It requires constantly adapting to the changing environment, with their sights set on corporate sustainability that benefits the company and stakeholders. Firstly, this paper addresses the beginnings and evolution about CSR concept, showing the close relationship between the economic and social changes. CSR began with philanthropy actions, followed by social investment actions. However, today, a realization of responsible practices integrated to business management is set out, which proposes new models of business management. To understand CSR in business is necessary to consider performing an in-depth diagnostic; for that, it shows the various theories and models of Corporate CSR, the stakeholders and CSR management; the relationship with the current laws and implementation tools. If competitiveness is required, it is necessary to understand the company as a corporate citizen with rights and duties, as well as challenges and critical issues in management. Finally, many of regional, national and internationals CSR cases are mentions to understand the actions and responses of various companies facing the challenges of their environment and the needs of its stakeholders. .

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