Does CFO accounting expertise matter to corporate social responsibility disclosure in 10-Ks?

Guo, Jun; Kim, Sung‐Soo; Yu, Yang; Kim, Jung Yeun

doi:10.1108/jaar-07-2020-0137

Cited by 17 publications

(19 citation statements)

References 61 publications

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“…All the coefficients in column 3 are like the ones in column 2. For example, we find that larger firms (SIZE) and firms with more analyst following (ANACOVER) disclose more CSR issues in their 10-Ks consistent with previous findings (Guo et al, 2021). Taken together, our results in Table 4 support the findings that CSR-related committees play an important role to enhance CSR disclosure in 10-K financial reports.…”

Section: Descriptive Statisticssupporting

confidence: 89%

“…(1) In equation ( 1), GCSRDISC t is the number of general CSR-related keywords listed in Appendix 2 of a 10-K in year t (Guo et al, 2021). PS-CSR t is the number of keywords from the Peloza and Shang (2011) that is listed in Appendix 3.…”

Section: Research Design and Empirical Modelmentioning

confidence: 99%

“…Alternatively, others argue that firms may manipulate the perception of stakeholders regardless of their operating and financial performance. However, most studies are not focused on the role of CSR-related committees, but the role of overall board directors or CFO accounting expertise in corporate CSR decisions (Guo et al. , 2021).…”

Section: Hypothesis Developmentmentioning

confidence: 99%

“…Extant studies provide mixed evidence on the determinants of CSR disclosure (Cho et al. , 2006, 2010, 2012; Peters and Romi, 2015; Guo et al. , 2021).…”

Section: Introductionmentioning

confidence: 99%

“…Burke et al (2019) find that sustainability committees have heterogeneous foci which may not uniformly impact performance outcomes. Extant studies provide mixed evidence on the determinants of CSR disclosure (Cho et al, 2006(Cho et al, , 2010(Cho et al, , 2012Peters and Romi, 2015;Guo et al, 2021). For instance, Peters and Romi (2015) find that the voluntary adoption of environmental committees on the board of directors improves the disclosure of greenhouse gas accounting information and increases the chance of having voluntary issuance of sustainability reports.…”

mentioning

confidence: 99%

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CSR committees, politicians and CSR efforts

Guo

2022

ARA

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PurposeThe purpose of this paper is to study the relationships among the presence of corporate social responsibility (CSR) committee, politicians on CSR committee and CSR disclosure in 10-Ks using data from S&P 500 firms during 2005–2013.Design/methodology/approachThe authors manually check the information of CSR committees as well as committees with CSR/sustainability functions from proxy statements (DEF 14a). CSR disclosure from 10-Ks is obtained by using a Python library named Beautiful Soup 4 to clean the rough data from the raw format files from EDGAR.FindingsThe authors find that superior sustainability governance is associated with more voluntary CSR disclosure in their 10-K reports. More importantly, they find that CSR committee members with working experiences as politicians play an important role to improve CSR disclosure. In the robustness tests, they find that CSR committee and the politicians on CSR committee are also associated with high KLD CSR score ratings.Practical implicationsThe finding in our paper that politicians on CSR committee can enhance CSR efforts may provide practical implications to some companies. Companies may consider inviting people who have political connections and experience to serve on CSR committees.Originality/valueThe authors find the presence of politicians on CSR committee is associated with CSR disclosure and CSR performance. That's new to the CSR governance literature and makes contributions to CSR disclosures and CSR committee expertise and skills.

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Section: Descriptive Statisticssupporting

confidence: 89%

Section: Research Design and Empirical Modelmentioning

confidence: 99%

Section: Hypothesis Developmentmentioning

confidence: 99%

“…Extant studies provide mixed evidence on the determinants of CSR disclosure (Cho et al. , 2006, 2010, 2012; Peters and Romi, 2015; Guo et al. , 2021).…”

Section: Introductionmentioning

confidence: 99%

mentioning

confidence: 99%

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CSR committees, politicians and CSR efforts

Guo

2022

ARA

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The effect of chief sustainability officers on sustainability reporting—A management perspective

Thun

Zülch

2022

Bus Strat Env

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More and more companies worldwide are appointing a chief sustainability officer (CSO) to anchor the topic of sustainability at the top management level. This study examines how a CSO on the management board influences the quantity and quality of sustainability reports. While quantity is measured by the amount of information disclosed (sustainability disclosure), quality is measured as the decision for external assurance of the sustainability report, using the Global Reporting Initiative (GRI) guidelines as a reporting framework and publishing a combined report. Using a sample of German listed companies for the years 2017-2020, regression analysis is first conducted to analyse the impact of CSOs on sustainability reports. Second, the study shows how a chief executive officer (CEO) and a chief financial officer (CFO) impact sustainability reports when they also serve as CSOs. The results suggest that CSOs improve sustainability disclosure. In addition, a CSO positively impacts the decision for external assurance of the sustainability report but shows no impact on using the GRI guidelines and publishing a combined report. The results also show that a CFO positively influences sustainability disclosure, while a CEO does not. This study contributes to the growing literature on sustainable governance and how having a CSO on the management board impacts sustainability reporting. The study has numerous implications for regulators and practitioners. The most important insight is which management position should be responsible for sustainability to improve reporting and the limitations of that decision.

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The impact of chief executive officer narcissism on environmental, social, and governance reporting

2023

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We analyze the effect of chief executive officer (CEO) narcissism on environmental, social, and governance (ESG) reporting. The study relies partly on hand‐collected, visual data and covers 57 German DAX 40 and MDAX companies from 2016 to 2020 (266 company‐year observations, Bloomberg database). Looking into the sub‐scores of ESG, CEO narcissism has a negative and linear relationship with environment and governance reporting but there is no significant relationship between narcissism and social reporting. Regression analyses further suggest a U‐shaped (quadratic) relation between CEO narcissism and ESG reporting: while low to moderate degrees of narcissism affect overall ESG reporting negatively, as CEO levels of narcissism increase so does the level of reporting. Moreover, further analysis has shown that the quantity of reporting is additionally positively related to ESG performance. The study applies and validates a relatively new but easily applicable measure of narcissism and extends narcissism research in the area of curvilinear relationships. We offer several further implications for human resource managers, regulators, auditors, and (non‐)financial analysts.

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Does CFO accounting expertise matter to corporate social responsibility disclosure in 10-Ks?

Cited by 17 publications

References 61 publications

CSR committees, politicians and CSR efforts

CSR committees, politicians and CSR efforts

The effect of chief sustainability officers on sustainability reporting—A management perspective

The impact of chief executive officer narcissism on environmental, social, and governance reporting

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