scholarly journals Ethical considerations of corporate social responsibility - A South African perspective

2015 ◽  
Vol 46 (1) ◽  
pp. 11-21 ◽  
Author(s):  
B. Ackers
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
South African ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Csr Reporting ◽  
Johannesburg Stock Exchange ◽  
The Social ◽  
African Perspective ◽  
Corporate Social

Today, companies are under increasing pressure to implement corporate social responsibility [CSR] programmes that account for the economic, social and environmental impacts of their operations. In addition to companies voluntarilywanting to be seen as responsible corporate citizens, the requirement for CSR reporting is being institutionalised by the King Code of Governance [King III] in South Africa. The application of King III is mandatory for all companies listedon the Johannesburg Stock Exchange [JSE], albeit on an 'apply or explain' basis. King III requires companies to not only disclose their CSR performance, but also to ensure that such disclosures have been independently assured. Irrespective ofthe underlying reason for companies disclosing their CSR performance and for providing independent assurance thereon, companies are moving away from simplistically applying the cliche attributed to Friedman that "the social responsibility of business was to use its resources to engage in activities that would increase profits". Companies that have traditionally provided financial reporting to shareholders, are now beginning to account for their non-financial performance to other stakeholders as well. This paradigm shift requires those charged with company governance and reporting (including accounting professionals usually associated with financial reporting), to re-examine their morals, values and ethical beliefs.

scholarly journals Can a conceptual framework for corporate social responsibility [CSR] assurance be developed?

2015 ◽  
Vol 12 (4) ◽  
pp. 8-23 ◽  
Author(s):  
Barry Ackers
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Qualitative Content Analysis ◽  
Second Phase ◽  
Csr Reporting ◽  
Johannesburg Stock Exchange ◽  
Sustainability Reports ◽  
Two Phases ◽  
Corporate Social

Independent corporate social responsibility [CSR] assurance should provide stakeholders with confidence that company CSR reports are complete, accurate and reliable. However, the voluntary nature of CSR reporting and assurance practices, implies that CSR assurance practices are largely unregulated, producing a variety of assurance providers using different approaches, undermining its effectiveness. The paper proposes that CSR assurance should be regulated to ameliorate these inconsistencies. The study examines the CSR assurance reports of the 200 largest companies listed on the Johannesburg Stock Exchange, utilising a qualitative content analysis undertaken in two phases. The first phase examines annual/sustainability reports to identify companies that published independent CSR assurance reports during 2011/2. The second phase analysed CSR assurance reports to establish the primary characteristics of CSR assurance.

Audited Financial Reporting and Voluntary Disclosure of Corporate Social Responsibility (CSR) Reports

2016 ◽  
Vol 28 (2) ◽  
pp. 53-76 ◽  
Author(s):  
Long Chen ◽  
Bin Srinidhi ◽  
Albert Tsang ◽  
Wei Yu
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Reporting ◽  
Voluntary Disclosure ◽  
Stock Price ◽  
Reporting Quality ◽  
Positive Association ◽  
Audit Fees ◽  
Csr Reporting ◽  
Corporate Social

ABSTRACT Prior studies show that corporate social responsibility (CSR) reporting is informative to investors but lacks credibility. This study examines whether a commitment to audits of financial outcomes, proxied by audit fees, is associated with greater CSR reporting credibility. We find that audit fees are positively associated with the likelihood of standalone CSR report issuance, and this positive association becomes stronger when managers perceive a greater need for credibility, i.e., when CSR reports are longer or issued with external assurance, when firms have strong CSR concerns, and when reports are issued sporadically. Corroborating our results, we find that CSR reports issued by firms committing to high audit fees accelerate the incorporation of future earnings information into current stock price. Taken together, our findings suggest that a commitment to higher financial reporting quality has the potential to bring positive externality to firms' nonfinancial disclosures and ultimately affects the issuance of CSR reports.

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.

Social responsibility: The changing role of business in South Africa

1979 ◽  
Vol 10 (3) ◽  
pp. 93-100 ◽  
Author(s):  
C. F. Wagenaar
Keyword(s):  
South Africa ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
South African ◽  
Business Community ◽  
Business Managers ◽  
The Public ◽  
The Social ◽  
Corporate Social ◽  
Changing Role

Business in South Africa is becoming increasingly involved in the solution of the social problems of the country, and business managers face growing demands concerning the corporate social responsibility of the private sector. The author investigated the nature and scope of corporate social responsibility in South Africa, considering both the viewpoint of business managers, and the expectations of the public. Both questionnaires and interviews were used in the investigation. The attitudes of managers and the expectations of society are set out in detail, and are then compared, showing that society is significantly more in favour of corporate social responsibility than the business community. There is, however, also a growing social awareness among South African business leaders.Sake-ondernemings in Suid-Afrika word toenemend betrek by die oplossing van die sosiale probleme van die land, en bestuurders is blootgestel aan toenemende eise wat betref die sosiale verantwoordelikheid van die private onderneming. Die skrywer het die aard en trefwydte van die sosiale verantwoordelikheid van Suid-Afrikaanse ondernemings ondersoek, met inagneming van sowel die standpunt van sakebestuurders as die verwagtings van die publiek. Vraelyste en personlike onderhoude is in die ondersoek gebruik. Die houdings van bestuurders en die verwagtings van die gemeenskap word volledig uiteengesit, en word dan vergelyk. Dit blyk dat die gemeenskap betekenisvol meer ten gunste is van sosiaal-verantwoordelike optrede deur ondernemings, as die sakelui. Daar is egter ook 'n groeiende bewustheid van sosiale verantwoordelikheid onder Suid-Afrikaanse sakeleiers.

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.

scholarly journals Corporate Social Responsibility Reporting – a Stakeholder’s Perspective Approach

2017 ◽  
Vol 8 (1) ◽  
pp. 30-42 ◽  
Author(s):  
Thorsten Litfin ◽  
Gunther Meeh-Bunse ◽  
Katja Luer ◽  
Özlem Teckert
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Reporting ◽  
Significant Development ◽  
Financial Reporting Standards ◽  
Csr Reporting ◽  
Corporate Social Responsibility Reporting ◽  
Corporate Social ◽  
Browsing Behavior ◽  
Empirical Methodology

Abstract Background: International financial reporting standards have constantly been facing fast-growing significant development. This has mainly been driven by the aim of better serving the needs of the investors. Awareness that corporate financial reporting provides short-sighted information and measures has been rising among politicians, in the society and on the financial markets. Therefore, Corporate Social Responsibility (CSR) reporting as a form of non-financial reporting has made it to limelight. Various reporting types developed, but the type of reporting is hardly codified. Objective: The goal of this paper is to identify the superior CSR reporting type from a stakeholder’s perspective. After identifying and analyzing central guidelines on CSR reporting and presenting different approaches, the authors will apply a positive-empirical methodology. Methods/Approach: In this first innovative joint attempt, eye-tracking technology is combined with a questionnaire for approaching CSR quality. Results: This study demonstrates the validity of the used methodology for the analysis of search and information browsing behavior in various types of sustainability reports. Conclusions: Overall our findings indicate that the reporting type "reference sustainability report" may not be advisable from a stakeholder’s perspective.

scholarly journals Corporate Social Responsibility within Social Media-Stakeholder Relations Strategies: Case of Turkish Stock Exchange Companies

2015 ◽  
Vol 2 (1) ◽  
pp. 1
Author(s):  
Ezgi Yildirim Saatci ◽  
Işıl Çobanlı Erdönmez
Keyword(s):  
Social Media ◽  
Corporate Social Responsibility ◽  
New Media ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Business World ◽  
Holding Companies ◽  
Clear Explanation ◽  
The Social ◽  
Corporate Social

Emergence and dominance of internet has changed the rules of the business world. Customer centric strategies became customer participated actions with the rise of social networks where all functional strategies of the firms are continuously being reshaped according to customer values. At the same time, concerns of customers as the buyers in terms of cost and quality are also backed up with their concerns as a member of the society where the organizations have direct impact on, which can give a clear explanation for the enhanced corporate social responsibility movement of the last decade. Philanthropic act of organizations are also considered as the fifth P of marketing which is also channeled through new media such as Face book, YouTube, LinkedIn, Twitter and YouTube. This paper intends to investigate 53 Turkish Holding companies which are register to Turkish Capital Market Board -and therefore, have to declare their social responsibility projects according to corporate governance rules- with an aim to contrast these projects’ prevalence in the social media and strategic use of marketing elements accordingly to frame the Turkish perspective.

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