Communicating the stakeholder engagement process: A cross‐country analysis in the tourism sector

Abstract

Stakeholder engagement (SE) is considered a best practice in sustainability reporting, as it increases companies' social legitimacy and reputation. Companies have to properly communicate the SE activities, paying attention to the social, cultural, and political factors that affect the perception of stakeholders. This is particularly relevant in the tourism sector, which is a typical multistakeholder context. In the academic literature, few studies have investigated the role of the country‐specific determinants of corporate social responsibility, and none of them adopt a cross‐country approach. The objective of this paper is to analyze the disclosure of SE, observing the content of nonfinancial reports and company websites of all companies belonging to the Global Reporting Initiative database. Cross‐country analysis confirms that European and non‐European firms approach SE activities differently. The research offers a contribution to the development and improvement of company relations with stakeholders from a value cocreation perspective, identifying the areas of interest on which firms can work to advance the SE communication process.

The revision of nonfinancial reporting directive: A critical lens on the comparability principle

“…Our results will provide further insights about the transition from voluntary to mandatory nonfinancial reporting. Furthermore, our methodological strategy followed the observations of Doni et al (2019) and Venturelli et al (2019) (Iazzi, Pizzi, Iaia, & Turco, 2020;Manetti & Toccafondi, 2014;Rosati & Faria, 2019a. The dependent variable is restatement.…”

“…Our final sample is composed of 41 observations that are representative of the firms that have published nonfinancial reports in both periods. These firms were selected to avoid the risk of sampling bias caused by nonrandom selection (Iazzi, Pizzi, Iaia, & Turco, 2020; Manetti & Toccafondi, 2014; Rosati & Faria, 2019a, 2019b). The dependent variable is restatement.…”

The “Walk” towards the UN Sustainable Development Goals: Does Mandated “Talk” through NonFinancial Disclosure Affect Companies’ Financial Performance?

“…In a context of markets' complexity and strong competition, together with the constant growth of the stakeholder base, companies engage with numerous actors such as customers, suppliers, institutions, shareholders, competitors, and communities through which they establish temporary or lasting relationships [103]. Those who are unable to provide communication about the creation of present and future value, towards the major categories of stakeholders, will find themselves in a disadvantageous position compared to the competitors.…”

“…For these expectations on the part of stakeholders to be fulfilled constantly, sustainability management is required. Sustainability management activities also represent an effective tool of stakeholder communication, implying a positive connection between stakeholder power, sustainable achievement, as well as sustainability reporting [102,103]. As stakeholders are interested in sustainable strategies of the company, better nonfinancial reporting will lead to better nonfinancial performance measures, like CSR ratings or reputational aspects [104].…”

Cultural organizations, digital Corporate Social Responsibility and stakeholder engagement in virtual museums: a multiple case study. How digitization is influencing the attitude toward CSR

“…By adopting a multiple case study approach, we investigated a sample of virtual museums and their attitude toward a digital CSR culture (Packalén, 2010). More specifically, this paper aims to examine stakeholders' perceptions (Cubilla‐Montilla, Ana‐Belén, Galindo‐Villardón, Galindo, & Garcia‐Sanchez, 2019; Dal Maso et al, 2017; Iazzi, Pizzi, Iaia, & Turco, 2020; Lee, 2020) in cultural organizations (Burns, Houghton, & Stewart, 2019; Packalén, 2010) and whether the digitization of museums should be considered only an economic activity or instead be seen as a new form altogether of social responsibility. While technologically advanced managerial practices have often been considered potentially dangerous in the pursuit of proper/acceptable social standards (Hofstede, Hofstede, & Minkov, 2005), the digitization of museum collections clearly shows how innovation can also bring sustainability (Packalén, 2010) and accountability, inasmuch the former can and should always contribute toward the generation of public value.…”