Effect of the Cultural System on Corporate Social Responsibility Disclosure in the Energy Sector

Abstract

This study examines the effect of the cultural system on the disclosure of corporate social responsibility by companies in the energy sector. The survey analyzed a sample of 62 leading energy companies from 25 countries. The dependent variable is the level of environmental disclosure of the companies. The independent variables are composed by the cultural system of the analyzed countries, according to the Hofstede cultural dimensions. The data were analyzed using descriptive, inferential statistics, correlation, and regression of panel data. The findings show that in more individualistic and masculine cultures, companies disclose more CSR information. It was found that companies based in cultures with a higher level of indulgence and with a greater orientation for the long term tend to have greater environmental disclosure. The results show that the level of disclosure of corporate social responsibility is different depending on the country's cultural system. There are institutional pressures, which encourage companies to publish a more complete sustainability report. The results of this study have academic and managerial implications.

Efeitos da Corrupção e da Cultura Nacional no Desempenho das Empresas em Responsabilidade Social Corporativa

“…Finally, the cultural dimension of indulgence (INDUL) was positively related to CSR performance. This result confirms the studies by Gallén and Peraita (2018), Halkos andSkouloudis (2017), andPinheiro et al (2021) when they indicate that the culture of less restriction on human desire makes companies have a greater commitment to transparency and is more focused on meeting the demands of investors and shareholders.…”

“…The cultural dimension of individualism showed a positive and significant relationship with CSR performance. The results demonstrate that companies located in countries with a more individualistic society are more prone to CSR practices, consistent with studies by Koprowski et al (2021), Lu and Wang (2021), Mohamed Adnan et al (2018), Peng et al (2012), Pinheiro et al (2021) and Thanetsunthorn and Wuthisatian (2018). Koprowski et al Hohn et al (2023) (2021) argue that this behavior reflects managers' response to pressure from interested parties as a strategy to remain in executive positions.…”

Influência da Cultura Nacional sobre as Práticas de RSC: Analisando as Empresas Industriais dos Países do BRICS

“…Os achados demonstraram que em países com maior liberdade econômica é mais provável que as empresas tenham maior desempenho ambiental. As economias que deixam o mercado mais livre, estão mais disponíveis a ter uma melhor relação entre as firmas e seus stakeholders, além disso, as empresas são mais receptivas para implementar novas tecnologias e conceitos, como a RSC (Ioannou & Serafeim, 2012;Pinheiro, Sampaio, Guimarães & Rebouças, 2021;Rosati & Faria, 2019). Apesar de ter uma quantidade significativa de estudos que analisam a relação entre cultura nacional e divulgação ambiental, poucas evidências investigam como a cultura nacional molda a responsabilidade social corporativa como um todo, ou seja, incluindo suas dimensões ambiental e social (Tolmie, Lehnert & Zhao, 2020).…”

Revisitando a relação entre desempenho financeiro e divulgação ambiental: uma análise comparativa entre Brasil e Holanda

“…Embora, alguns estudos já tenham sido desenvolvidos sobre divulgação de responsabilidade social corporativa, poucos estudos fazem uma comparação entre práticas de divulgação ambiental entre diferentes países (Pinheiro et al, 2021a)) e poucas pesquisas trabalham a divulgação ambiental em contextos emergentes . Ademais, existe uma crescente preocupação da sociedade com a preservação dos recursos naturais (Domenico et al, 2015;Jost et al, 2021;Nossa et al, 2017) e há uma necessidade científica e social de abordar a divulgação ambiental das empresas.…”